- FingerMotion Inc. is made up of four business units, including a big-data insights (Sapientus) division
- Sapientus is poised to be the company’s leading revenue generator, alongside the rich communication services division
- FingerMotion partnered with Pacific Life Re-insurance, ushering it into the insuratech industry wherein it can monetize its big-data asset with a sellable product
MarketsandMarkets projects that the global big-data market size will grow to $229.4 billion by 2025, up from an estimated $138.9 billion in 2020. At a CAGR of 10.6%, this growth is driven by such factors as the increasing availability of data across organizations, knowledge of Internet of Things (“IoT”) devices among companies and government funding to enhance digital technologies (https://ibn.fm/HLiGM). The first driver can be considered a wheelhouse for FingerMotion (OTCQX: FNGR), an evolving technological company that has ventured into big data.
Founded in 2016 as a mobile gaming company that later diversified into the mobile recharge business, citing stagnation, FNGR has grown over the years thanks to partnerships and relationships with large corporations in China, including Alibaba, JD.com, Pinduoduo, China Unicom, China Telecom and China Mobile.
Presently, FingerMotion is made up of four business units: telecommunication products and services (its foundation business), SMS and MMS services, rich communication services (“RCS”) and big-data insights (https://ibn.fm/qST2n).
Though the former two divisions have long been the company’s primary revenue source, FNGR anticipates that once it formally launches the last two units in 2021, their revenues will eclipse those of their older counterparts. Notably, FingerMotion has already launched its big data insights division, dubbed Sapientus, through a partnership with Pacific Life Re-insurance.
“In January, we made one of the most significant announcements as a company. We are very proud to announce our partnership with Pacific Life Re-insurance, in essence becoming their data provider,” FingerMotion CEO Martin J. Shen said in his presentation during the March 3 Emerging Growth Conference (https://ibn.fm/7bJBt). “We’re very excited about the deal because it not only validated the work, which we had had in our R&D phase for about two years, but also put us on track to monetize our data asset.”
Shen also noted that the Sapientus division would offer more than just data. It will focus on providing behavioral analytics, with the resultant information giving more insight into human nature itself. Combined, these elements will add value to its clients, who will initially be drawn from the Chinese insuratech industry. Later, FingerMotion will extend Sapientus’ predictive algorithms and platform to finance, healthcare and insurance, as well as other jurisdictions.
“We look to build strong forays into the insuratech space,” Shen said in a separate video update on the company’s activities in February (https://ibn.fm/OWCbd). “We believe other re-insurance companies will look to develop a similar model with us. By remaining non-exclusive and offering similar services to other companies in other insurance sectors, we believe we have the potential to be the most disruptive technology in insurance today.”
In a market fraught with companies that know how to process data but not how to draw value from it through transformation and analysis, Shen was quick to point out that FingerMotion has the edge over such firms. It transforms the data by overlaying the information with its proprietary behavioral algorithms before applying it to specific industry applications. FNGR also differentiates itself from the competition because of its access to real data from actual users.
The insurance industry in China has witnessed tremendous growth, with projections showing that it will be the largest insurance market in the next decade. The health insurance alone grew at a CAGR of over 12% from 1999 to 2019, with short-term health insurance, considered the fastest growing property and casualty insurance segment, witnessing a 47.4% year-over-year growth in 2019. However, according to Shen, this industry has remained relatively untapped.
With the Pacific Life Re-Insurance partnership having ushered FingerMotion into the insuratech industry, its future remains bright. The company can offer its big data insights platform to other insuratech firms and generate revenue. Therefore, FNGR is on track to monetize its data asset with a sellable product.
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
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.
With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.
Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.
For more information, please visit https://www.InvestorWire.com
InvestorWire is part of the InvestorBrandNetwork.