- 2021 marked the year when FingerMotion invested heavily into its insurtech product and service offering
- It forged partnerships with key players such as Pacific Life, Happy Life Insurance, and Munich Re to further develop innovative insurance business models for its customers
- These investments would see a 48% year-over-year growth in the number of insurtech business deals for the company from 2020
- FingerMotion hopes that these investments, coupled with its strengthened position as a mobile data service provider, will help it to grow its customer numbers to over a billion
FingerMotion (NASDAQ: FNGR), since its inception, has always pushed the envelope with innovation. This commitment has made it a key player in the Chinese market, particularly with its mobile payment and recharge platform solutions. Its tech innovations have also trickled down to the insurtech sector, in which FingerMotion is a critical player.
For the 2021 calendar year, FingerMotion stamped its position as an industry leader in the mobile data service sector. Its innovations benefitted hundreds of thousands of users while also laying down the foundation for further expansion to serve over a billion users in China and neighboring regional markets.
FingerMotion kicked off the year with the qualification to trade on the OTCQX Best Market, an upgrade from the OTCQB. The move would see the company gain greater access to the capital markets while also offering it an opportunity to be more transparent to institutional investors who rely on the more rigorous review of the company (https://ibn.fm/zGtFv).
Even with the OTCQX listing, the insurance sector was one of the primary beneficiaries of FingerMotion’s 2021 growth and expansion plan. At the beginning of the year, the company entered into a services agreement with Pacific Life Re through its big data analytic arm, Sapientus. Pacific Life, a global life reinsurer, would help FingerMotion develop a holistic multi-faceted risk rating concept, allowing it to draw data from novel sources and filter them through advanced algorithms for better service delivery (https://ibn.fm/kB1Of).
Later in the year, FingerMotion would collaborate with other enterprises, including Happy Life Insurance and Munich Re, to develop innovative insurance business models powered by data and specifically designed to deliver a suite of digital insurance solutions for consumers. By the end of the year, the company had already achieved a 48% year-over-year growth in the number of insurtech business deals (https://ibn.fm/81SIR).
Going into 2022, the company anticipates operationalizing its latest insurtech services. It hopes that this will play an integral role in the further growth of the enterprise and in achieving its objective of serving over a billion users in the region. Additionally, it plans to take advantage of its listing on the NASDAQ Capital Market, even as it strengthens its position as a mobile data service provider for the Chinese market.
Through outstanding leadership over the 2021 calendar year, FingerMotion has forged integral strategic partnerships with key players in specific industries within China. In addition, the company has also invested a lot into the technology, products, and services that it offers. Combined, these moves have allowed it to position itself as a key player within the mobile data services sector and the Chinese insurtech space.
The global insurtech industry is projected to grow by $33.7 billion between 2021 and 2025, representing a Compound Annual Growth Rate (“CAGR”) of 45.28% over the forecast period (https://ibn.fm/patr9). FingerMotion is positioning itself to take advantage of this growth.
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