FingerMotion's Big Data Update
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Insights
The recent update from FingerMotion, Inc. regarding its Big Data subsidiary, Sapientus, signals a strategic advancement in the commercialization of their Big Data models. The focus on expanding partnerships and evolving product modules, particularly within the insurance sector, suggests potential for increased revenue streams and market penetration. The shift from per-usage charges to profit-sharing or commission-based models could lead to more scalable and sustainable income as the adoption grows.
The insurance industry is increasingly leveraging Big Data and predictive analytics to enhance underwriting precision and risk management. Sapientus's efforts to extend its analytical capabilities beyond underwriting to sales and customer engagement indicate an alignment with industry trends towards comprehensive customer lifecycle management.
The validation of their proprietary analytic models with empirical insurance data, demonstrating high predictive accuracy, is a critical step in building credibility and trust with potential partners. This is particularly relevant for reinsurance providers, who manage significant risks and depend on reliable data to optimize their portfolios.
From a financial perspective, the development of Sapientus's Big Data solutions is poised to enhance FingerMotion's competitive edge and financial health. Diversifying the application of data analytics across various modules and potentially entering brokerage services indicates a strategic move to tap into new revenue channels. The anticipated transition to large-scale commercialization within the next few years could significantly impact the company's top-line growth.
Investors should note the company's forward-looking approach to revenue models, which may lead to increased profitability through profit sharing and commission-based arrangements. This approach aligns well with the recurring revenue model favored by investors for its predictability and potential for long-term financial stability.
However, investors should also consider the inherent risks associated with the reliance on successful integration with partners and the adoption rate of new technologies. The company's performance will be contingent upon its ability to maintain technological advancements and effectively monetize its Big Data capabilities.
The rapid evolution of Big Data product modules within FingerMotion's Sapientus subsidiary is a testament to the dynamic nature of the technology sector. The expansion into sales and customer engagement modules, as well as the exploration of new use cases beyond insurance, showcases the versatility of Big Data analytics. This adaptability is crucial in technology, where innovation and the ability to respond to market demands determine a company's long-term viability.
The integration of artificial intelligence and predictive algorithms into reinsurance and other commercial sectors is a significant technological trend. Sapientus's progress in this area could position FingerMotion as a front-runner in the Big Data analytics space. Their focus on creating bespoke solutions tailored to their partners' needs could further entrench their market position and drive adoption.
It is important to recognize the technical challenges and investment required to continually develop and refine these intelligent models. The success of such technological endeavors often hinges on sustained R&D efforts and attracting the right talent to innovate and implement these solutions effectively.
SINGAPORE / ACCESSWIRE / December 20, 2023 / FingerMotion, Inc. (NASDAQ:FNGR) (the "Company" or "FingerMotion"), a mobile services and data company, today provided an update on its Big Data subsidiary branded Sapientus. Highlights include the following:
- Big Data models are well positioned for commercialization in the coming year. Sapientus expects to engage more partners for commercial applications and expanded use cases.
- Existing partners are in the integration phase, gradually ramping up adoption, and are expected to transition to large scale commercialization phase in the next 2-3 years.
- Big Data product modules are evolving at an ever-increasing pace, with insurance modules expected to move beyond underwriting and risk management to sales and customer engagements. In addition, a growing number of modules that extend beyond insurance will be designed and structured if well aligned.
- As developmental milestones are reached from these innovations, the Company looks to move from per-usage charges to profit sharing and/or commission-based arrangements.
The past year has been transformative to Sapientus - the proprietary analytic models have been collaboratively tested and validated with empirical insurance data. The studies have demonstrated a high degree of accuracy in their predictive value in tracking substandard cases which is pivotal in the enhancement of the overall insurance underwriting experience. Within the health insurance segment, the algorithms have empowered reinsurance providers with more flexibility to manage insurance portfolios and hopefully improve profitability. Extending beyond insurance, the analytical capabilities of these intelligent models should assist in identifying ideal customers with higher engagement levels.
"We are just scratching the surface of what is possible in our Big Data division," said Martin Shen, CEO of FingerMotion. "Reinsurance is a very large business, but as artificial intelligence has shown us, the market for predictable algorithms is almost infinite.
Looking ahead to 2024, Sapientus targets the following objectives:
- Steady expansion of services to reach larger audiences via new and innovated modules that are bespoken, leveraging ongoing partnerships and our integrated analytics platform;
- Additional re/insurer partnerships following positive receptive feedback from recent business summits; and
- Brokerage services and solutions, perhaps through acquisitions or partnerships, to broaden our market footprint and capture a greater scope of commercial opportunities.
About FingerMotion, Inc.
FingerMotion is an evolving technology company with a core competency in mobile payment and recharge platform solutions in China. As the user base of its primary business continues to grow, the Company is developing additional value-added technologies to market to its users. The vision of the Company is to rapidly grow the user base through organic means and have this growth develop into an ecosystem of users with high engagement rates utilizing its innovative applications. Developing a highly engaged ecosystem of users would strategically position the Company to onboard larger customer bases. FingerMotion eventually hopes to serve over 1 billion users in the China market and eventually expand the model to other regional markets.
For more information on FingerMotion, visit: https://fingermotion.com/
Company Contact:
FingerMotion, Inc.
For further information e-mail: info@fingermotion.com
Phone: 718-269-3366
Investor Relations Contact:
Skyline Corporate Communications Group, LLC
Scott Powell, President
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email: info@skylineccg.com
Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States securities laws. These statements relate to analysis and other information that are based on forecasts or future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". We have based these forward-looking statements on our current expectations about future events or performance, including expected revenues. While we believe these expectations are reasonable, such forward-looking statements are inherently subject to risks and uncertainties, many of which are beyond our control. Our actual future results may differ materially from those discussed or implied in our forward-looking statements for various reasons. Factors that could contribute to such differences include, but are not limited to: international, national and local general economic and market conditions; demographic changes; the ability of the Company to sustain, manage or forecast its growth; the ability of the Company to manage its VIE contracts; the ability of the Company to maintain its relationships and licenses in China; adverse publicity; competition and changes in the Chinese telecommunications market; fluctuations and difficulty in forecasting operating results; business disruptions, such as technological failures and/or cybersecurity breaches; and the other factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. The forward-looking statements included in this release are made only as of the date hereof. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Report Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news release shall not constitute an offer to sell or the solicitation of any offer to our securities.
SOURCE: FingerMotion
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