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Tenet Fintech (PKKFF) Stock Rose 12%. How Did That Happen?

Tenet Fintech Group Inc. (OTC: PKKFF) stock closed up 12.00% to $1.6800 in the past session following announcing a collaboration. The Tenet Fintech (PKKFF) stock price ranged from $1.4800 to $1.6800 during the session, while 123.33K shares changed hands.

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PKKFF has announced which partnership.

Tenet Fintech (PKKFF) announced the introduction of the “Driver’s Seat” policy, the first insurance policy accessible only through Tenet’s Heartbeat insurance brokerage platform, in collaboration with the People’s Insurance Company of China (“PICC”) and eHi Auto Services Ltd. (“eHi”).

  • Drivers who have a Driver’s Seat coverage can get replacement automobiles in the case of an accident or if their vehicles need to be serviced for a lengthy period of time.
  • While replacement car services are widespread in certain countries, such as Canada and the United States, implementing them in China has proven difficult for a variety of reasons, making the Driver’s Seat policy a one-of-a-kind find in the nation.
  • The policy’s vehicles will be provided by eHi’s fleet of over 100,000 automobiles, which will be distributed through over 5,000 service outlets in over 400 locations.
  • The plans will be marketed through eHi’s service centers as well as the more than 400 insurance brokers that already use the Heartbeat platform, and will be backed by the country’s top insurer.
  • PICC, which was founded by the Chinese Central Government in 1949 and is now its largest stakeholder, controls approximately 30% of China’s property insurance market.
  • Heartbeat’s product data, paired with Tenet’s Business Hub’s analytical capabilities, will guarantee that the match between policyholders and temporary replacement cars provides the best possible user experience for policyholders while also maximizing the usage of eHi’s fleet.

What will PKKFF do with the transaction?

The fact that PKKFF would ultimately be able to utilize the Heartbeat platform to assist build policies that would be provided solely through the platform drew Tenet Fintech (PKKFF) to purchase it. PKKFF sees tremendous prospects to build insurance plans that match the needs of its members, given its growing membership and the quantity of data we acquire every day on the transactions we support through our Business Hub.

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