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Toronto, Ontario–(Newsfile Corp. – April 21, 2022) – Tenet Fintech Group Inc. (CSE: PKK) (OTC PINK: PKKFF) (“Tenet” or the “Company”), an innovative AI service provider and business center operator,” today announced that its Heartbeat insurance product management and brokerage platform recently achieved a major milestone by processing more than 400,000 insurance policies worth more than C$175 million.
Tenet acquired the platform in the fall of 2021 to complete its “Business Hub” service offer in China and in anticipation of government regulations that came into effect on February 1, 2022, aimed at improving the supervision of the brokerage industry. insurance and enrich industry recovery These regulations and the compliance obligations they entail have now driven 381 Chinese insurance brokerage firms to use Heartbeat to connect, access and sell insurance products from some of the largest Chinese insurance companies, including Ping An Insurance (Group) Ltd., China Life Property & Casualty Insurance Company Ltd., The People’s Insurance Company (Group) of China Ltd.and Bank of China Insurance Company Ltd. with whom the platform is linked. Although the milestone announced today can largely be attributed to new regulations in the insurance brokerage industry and Tenet’s agreement with Ping An Insurance for policies aimed at the automotive industry, the company believes that Heartbeat’s future steps and impact on China’s insurance industry will result from the role the platform will ultimately play within the business center of tenet”.
“Our acquisition of Heartbeat was both opportunistic and strategic,” said Liang Qiu, CEO of Tenet China. “Each platform we develop, acquisition we make or partnership we sign is done with the aim of creating synergies with the other components of our Business Hub” and enriching the Hub’s offer. The Heartbeat platform is a great example of this. Currently, Heartbeat is used to help sell more traditional insurance products. But ultimately, given the vertical markets we serve through the hub, such as the oil and gas sector, the automotive industry, and commodity traders, the amount of transactional data available to us, our analytical capabilities to understand the needs of our customers and our access to insurance companies nationwide, we believe that we will be able to work with these insurance companies to design personalized insurance products that perfectly meet the needs of our customers and create new opportunities for our insurance partners. »
About Tenet Fintech Group Inc.:
Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) and artificial intelligence (AI) companies. All references to Tenet in this press release, unless explicitly stated, include Tenet and all of its affiliates. Tenet’s subsidiaries provide various analytics and artificial intelligence services to businesses and financial institutions through various business centers to create a global ecosystem where analytics and artificial intelligence are used to create opportunities and facilitate B2B transactions between its members. For more information : http://www.tenetfintech.com
For more information please contact:
CHF Capital Markets
Cathy Hume, CEO
416-868-1079 ext: 251
MZ Group – MZ North America
Mark Schwalenberg, CFA
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LinkedIn: Tenet Fintech
YouTube: Tenet Fintech
This press release may include certain forward-looking information, including statements relating to business and operating strategies, revenue growth plans and prospects, and listing plans, using words such as “anticipate”, “believe”, “could”, “expect”, “intend”, “may”, “plan”, “potential”, “project”, “seek”, “should”, “will”, “would” and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views regarding current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review the forward-looking information contained in this press release, except as required by applicable laws, rules and regulations. nt. Readers are urged to carefully consider these factors when evaluating any forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121155