- Rich communication services (“RCS”) provider and big data analysis solutions developer FingerMotion has announced an agreement with Munich Re to form a collaborative research alliance to benefit life and health insurance risk evaluation
- FingerMotion focuses its SMS, MMS, and big data products on China’s huge high-end phone consumer market
- The company’s most recent quarterly report noted a 25 percent YOY quarterly growth in revenues attributed to SMS and MMS services
- The Munich Re agreement follows FingerMotion’s contract earlier this year with Pacific Life Reinsurance to provide big data analytical services for Pacific Life’s insurance operations in China
Communications and big data technology platform builder FingerMotion (OTCQX: FNGR) is continuing to build reinsurance industry opportunities for its Sapientus data analysis platform, announcing Dec. 6 that its 99 percent-owned subsidiary Shanghai JiuGe Information Technology Co., Ltd. inked a collaborative research alliance with global reinsurance powerhouse Munich Re to improve understanding of morbidity and behavioral patterns in China’s marketplace, focusing on life and health insurance.
“Today’s news sets the stage for a longer-term strategic mission to reinvent the way we provide insurance to customers in the future and transform the overall industry,” FingerMotion CEO Martin Shen stated (https://ibn.fm/8QoGF).
“All the vital elements are in place,” Shen added. “With our distribution platform that enables wide-scale marketing throughout China, a growing network of partners and ongoing accumulation of increasing data points and observations will further strengthen our analytic power and extend our reach, enabling us to aid in the industry’s effort to better stratify risks and contain moral hazard, ultimately augmenting the efficiency of the overall insurance system.”
FingerMotion is a U.S.-based mobile tech services provider that is focused on China’s consumer phone market, building revenues primarily from short and multimedia messaging (SMS and MMS) services there. But the company’s Sapientus division has caught the attention of insurance industry players, most notably global insurer Pacific Life.
Pacific Life’s Re-insurance division in China finalized an agreement with FingerMotion earlier this year to receive consumer risk data generated by FingerMotion for efficiently processing claims while screening for fraud and abuse.
China’s insurance risk and credit risk evaluation infrastructure is still underdeveloped, creating a particular need in the country for solutions such as the information Sapientus offers to help companies analyze consumer behaviors and establish predictive algorithms.
“This is the third consecutive quarter of Big Data revenues and we expect it to continue and eventually outpace our existing revenue streams,” Shen stated earlier this fall (https://ibn.fm/RwHGj).
The quarterly financial report released in conjunction with Shen’s statement noted 25 percent year-over-year growth in revenues attributed to SMS and MMS services, and an overall quarterly revenue growth to $5.39 million.
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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