- Communications and insurtech services company FingerMotion is rolling out its Sapientus platform for analyzing big data input
- The company is in a unique position because it is the only officially licensee for mining and analyzing data from Chinese telecommunications giants China Unicom’s and China Mobile’s customers
- FingerMotion’s access to the 1.1 billion consumers’ data led to a partnership with insurance giant Pacific Life in January as Pacific Life looks for ways to grow within China’s insurance industry
- The deal’s anticipated ability to establish a landmark credit rating system among China’s billions of consumers at a time when no developed credit reporting similar to the U.S. system exists is expected to revolutionize the industry there
As China becomes the world’s most actively percolating hotbed for big data analytics and their real-time application, opportunities to invest in the country’s industries are expected to see growth at a CAGR of 30 percent over the next five years, according to a report by Mordor Intelligence (https://ibn.fm/RE8av).
Evolving communications and insurance tech company FingerMotion (OTCQX: FNGR) has established its name through its telecommunication products and services and its SMS and MMS services divisions in recent years, but the formal launch of its rich communication services (“RCS”) and big-data insights this year are expected to elevate it to as-yet-unseen revenue levels thanks to its exclusive positioning in regard to analyzing big data in China.
FingerMotion is the only company with a license to legally mine and analyze the mobile data of telecommunications giants China Unicom and China Mobile customers, which represents over 1.1 billion phones. The data derived directly from customers’ mobile products means FingerMotion doesn’t have to maintain its own database, and the mobile products are likely to provide the most accurate assessment of customer behavior.
FingerMotion’s access to Chinese consumers’ data led to the announcement of a profitable partnership with Pacific Life’s reinsurance division in January (https://ibn.fm/E0HCz). Pacific Life is one of the world’s top five Insurance companies with $1.1 trillion in life insurance policies, $171 billion in assets, and a 150-year-plus history (https://ibn.fm/T0Fqj).
We are very excited about this joint undertaking as we believe this collaboration will create a transformative environment that could leave evolutionary imprints in the insurance industry with respect to risk assessments, customer insights, and more importantly innovative solutions that will enhance the overall customer experience,” FingerMotion CEO Martin Shen said at the time (https://ibn.fm/FDs1B).
The deal effectively establishes FingerMotion as Pacific Life Re-insurance’s data provider as Pacific Life pursues solutions for growing within the Chinese insurance industry. Insurance is mandatory in China, and the innovation of FingerMotion’s Sapientus platform is that it overlays consumer data with AI-driven behavioral analytics to help provide predictive measures about the consumers’ habits.
Since China doesn’t maintain a developed credit rating system such as that employed in the United States by insurance agencies to assess their risks in policy undertakings (https://ibn.fm/GxiWh), the big data analysis is being tapped as a proxy measure of that fundamental concern.
A credit score can be built on the consumers’ pseudo-self-reporting about habits such as whether they frequent fast food places, drive over the speed limit, text while driving, smoke cigarettes, etc. Consumers can reap rate rewards for beneficial behaviors at the outset based on the predictive models.
FingerMotion anticipates that its year-end financial report will show revenues topping $16 million for the fiscal year that ended Feb. 28, when it issues the report sometime during the next few weeks (https://ibn.fm/Asj5R).
For more information, visit the company’s website at www.FingerMotion.com.
NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://ibn.fm/FNGR
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