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Peak Fintech Acquires Heartbeat Insurance Platform and Brings Analytics and AI expertise to insurance industry

Peak Fintech Acquires Heartbeat Insurance Platform and Brings Analytics and AI expertise to insurance industry

MONTREAL, Sept. 14, 2021 - Peak Fintech Ltd. (NYSE: TNT) announced today that it acquired the assets of Huayan Kun Tai Technology Company Ltd, an innovative FinTech service provider and manager One company that provides customers and insurance brokers with the ability to sell products to others.

Huayan provides its solutions primarily through its proprietary "Heartbeat" (https://www.happysalers.com) insurance product management and brokerage platform, where users pay a subscription fee to access the services The company's headquarters will be transferred to its headquarters in the second quarter of 2021, which was created specifically to help provide insurance related products and services to Peak'' business hub members.

With total premium income of 4.5T RMB (about 885B USD) in 2020 according to the figures, total costs for the year 2020 will be 885B EUR (and $875B) total in total SHINE from Shanghai Daily's SHIN is SHINA. China is the world's second largest insurance industry with only United States, the largest of its largest in the country, whose insurance premiums totalled USD 1,3T (about 1,655T) in 2020. Numerous publications, including a wide variety of publications. Investopedia, a thiopodopedia. China's rapidly growing insurance market will make 20 percent of global premiums by 2029, eclipsing the United States as the world'd largest market. The business hub has the opportunity to expand its analytics and AI capabilities across the sector and add a lot of value to its business Hub. Peak believes that its ability to influence the various aspects of B2B transactions in China is better than ever.

The Heartbeat platform saw significant growth in insurance brokerage companies using it in 2021, with the number of users going from 8 at the end of 2020 to 420 by the last of August 2022. This increase is partly due to recent regulations enacted by China's Banking and Insurance Regulatory Commission (CBIRC) that aim to improve the insurance brokerage industry'' s collection and management of data. The new regulations, which were implemented on February 1, 2021, essentially require all insurance brokers to have system that allow them to share data with, and directly linked to, the country's insurance companies. Since the Heartbeat platform is one of only a handful of platforms that offer such capabilities to the Chinese insurance brokerage industry, insurance brokers, who have to wait until February 1 2022 to comply with the new regulations or risk to shut down their Heartbeat is currently linked to China's top insurance companies, including Ping An Insurance (Group), China Life Property & Casualty Insurance Company Ltd., China People''-China Ltd, and Bank of China Insurance

As compensation for the acquisition of Huayan's operations, Peak will pay a total of $31.0M to Huan and its shareholders, of which $11.0 million will be payable in cash to be used in various capacities to position The remaining $20.0M is due to Huayan's shareholders in common shares of Peak, of which $6.0M will be payable within ten business days of the signing of that agreement and $14.0M over a three-

"In my opinion, the Business Hub is the future of B2B related transactions," said Kai Cui, CEO of Huayan. If you are a business selling to other businesses, the idea of being part of 'a network' that uses data and AI to find and match clients is based on obstructing cash flow and allowing you to be I encourage the company to continue listening to the needs of the Hub's members to bring them the solutions they've asked them to help their businesses flourish. It was dedication to the success of its members and the constant pursuit of improving their lives that led to this transaction between our two entities and one of the many reasons we're so excited to join the Peak family. From an operational standpoint, we believe that pairing the Business Hub's analytical and AI capabilities with the Heartbeat platform will improve our existing product offerings, attract new members and users, and even work with insurers to develop new products specific to certain

About Peak Fintech Group Inc.: Peak Fintech Group Inc. is a company of resellers and specializing in commercial lending. Peak's subsidiaries create the Cubeler Business Hub, an ecosystem where analytics and artificial intelligence can be used to facilitate transactions among members of the ecosystem. For more information, visit: http://www.peakfintechgroup.com. For information::http://speakfactory.org/.

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Peak Fintech Group is a privately run company.

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SOURCE Peak Fintech Group Inc.

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