- Peak Fintech’s (PKK) Heartbeat insurance brokerage has processed 152,016 policies in less than five months
- Most of the policies, processed between May and September 2021, are basic property and liability insurance policies related to the automobile industry
- The rise is tied to the Chinese government’s push to digitize its insurance industry, which is driving business to the platform
- The company intends to offer insurance products tied to additional supply-chain verticals it services through its Business Hub
- Peak Fintech Group offers a suite of services in China’s commercial lending industry
- Peak Fintech (PKK) is down by 1.92 per cent and is currently trading at $10.20 per share
Peak Fintech’s (PKK) Heartbeat insurance brokerage has processed 152,016 policies in less than five months.
Most of the policies, processed between May and September 2021, are basic property and liability insurance policies related to the automobile industry.
The rise is tied to the Chinese government’s push to digitize its insurance industry, which is driving business to the platform.
Newly passed regulations by China’s Banking and Insurance Regulatory Commission give the country’s insurance brokers until February 1, 2022, to implement systems that are directly linked to and share data with the country’s insurance companies.
Heartbeat is currently one of only a handful of platforms in the country that allow brokers to comply with the new regulations, which aim to improve supervision and data security.
Peak intends to bundle insurance products tied to other supply-chain verticals, including steel and energy, that the company services through its Business Hub.
Peak Fintech Group offers a suite of services in China’s commercial lending industry.
Peak Fintech (PKK) is down by 1.92 per cent and is currently trading at $10.20 per share as of 9:34 am ET.
