Toronto, Ontario–(Newsfile Corp. – May 16, 2022) – Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) (“Tenet” or the “Company”), an innovative and operator of the Business Hubs™, today announced that it has collaborated with the People’s Insurance Company of China (“PICC”) and eHi Auto Services Ltd. (“eHi”) to launch the “Driver’s Seat” policy, the first insurance policy exclusively available through Tenet’s Heartbeat insurance brokerage platform.
Driver’s Seat policyholders can obtain replacement vehicles in the event of an accident or any other situation where their vehicle would require maintenance for an extended period. While replacement vehicle services are commonplace in some parts of the world, such as Canada and the United States, the implementation of the service has been problematic in China for various reasons, which is sure to make driver’s seat policy a rather unique find in the country. Vehicles supporting the policy will be provided by eHi’s (https://en.1hai.cn/) fleet of over 100,000 vehicles through over 5,000 service outlets in over 400 cities. The policies themselves will be sold through eHi service outlets and by over 400 insurance brokers already using the Heartbeat platform, and endorsed by the country’s largest insurance company. Founded by the Chinese central government in 1949, which still remains its largest shareholder, PICC (https://www.picc.com/) holds over 30% of the property insurance market in China. The product data in Heartbeat combined with the analytical capabilities of Tenet’s Business Hub™ will ensure that matching policyholders to temporary replacement vehicles will result in the best possible user experience for policyholders while optimizing fleet utilization. hey.
“One of the things that attracted us to the Heartbeat platform and led us to acquire it, was the fact that we could eventually use it to help design policies that would be available exclusively through the platform. “said Liang Qiu, CEO. from TenetAsia. “Given the growth in our workforce and the amount of data we collect every day on the transactions we facilitate through our Business Hub™, we see exceptional opportunities to design insurance policies tailored to the needs of our members. We serve vertical industry sectors, such as the oil and gas and automotive sectors, which could particularly benefit from the right insurance products, which would create more synergies between our existing service offerings. This in turn would generate more opportunities for our insurance brokers and insurance company partners. Therefore, we believe that the introduction of the driver’s seat policy is the start of something very important for the company’s operations in China.
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 subsidiaries provide various analytics and AI services to businesses and financial institutions through various Business Hubs™ to create a global ecosystem where analytics and AI are used to create opportunities and facilitate B2B transactions between his 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 – Director
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