Tenet Fintech Group Inc. announced that it has collaborated with the People's Insurance Company of China and eHi Auto Services Ltd. to launch the "Driver's Seat" policy, the first insurance policy to be exclusively available through Tenet's Heartbeat insurance brokerage platform. Driver's Seat policy holders can obtain replacement vehicles in the event of accidents or any other situation where their vehicles would require servicing for an extended period of time. While replacement vehicle services are commonplace in some parts of the world, like Canada and the United States, implementing the service has been problematic in China for various reasons, which is sure to make the Driver's Seat policy a rather unique find in the country.

The vehicles in support of the policy will be provided from eHi's fleet of over 100,000 vehicles through more than 5,000 service outlets in over 400 cities. The policies themselves will be sold through eHi's service outlets and by the more than 400 insurance brokers already using the Heartbeat platform, and endorsed by the country's largest insurance company. Founded by the Chinese Central Government in 1949, which still remains its biggest shareholder, PICC (https://www.picc.com/) has over 30% of the property insurance market in China.

Product data in Heartbeat combined with the analytical capabilities of Tenet's Business HubTM will ensure the match between policy holders and temporary replacement vehicles result in the best possible user experience for policy holders while optimizing the use of eHi's fleet.