- Trading
volume increased rapidly during the first four days of trading
- Company
has excellent prospects on vacation rental market, which totaled nearly
$68 billion in revenue in 2019
- InsuraGuest’s
Hospitality Liability Policy covers a wide range of issues, being designed
to serve as the first line of defense for guests and properties alike
InsuraGuest Technologies Inc. (TSX.V: ISGI) commenced
trading common shares on the TSX Venture Exchange at the opening bell on
Friday, February 28, 2020. The company opened with a trading volume of
2,000 shares at $0.4 per share. The price dipped slightly but began rising
again as the trading volume increased significantly to more than 200,000 shares
over the following days.
Trading volume and share price evolution during the first
four days of trading are detailed below:
Date
|
Open
|
High
|
Low
|
Close
|
Volume
|
Chg
|
%
Chg
|
Adj.
Close
|
Trade
Val
|
#
Trades
|
03/04/20
|
0.34
|
0.34
|
0.255
|
0.255
|
198.25k
|
-0.085
|
-25.00%
|
0.255
|
54.85k
|
22
|
03/03/20
|
0.30
|
0.34
|
0.25
|
0.34
|
207k
|
0.02
|
6.25%
|
0.34
|
63.63k
|
34
|
03/02/20
|
0.32
|
0.32
|
0.32
|
0.32
|
20k
|
-0.08
|
-20.00%
|
0.32
|
6.4k
|
7
|
02/28/20
|
0.40
|
0.40
|
0.40
|
0.40
|
2k
|
0.40
|
0.00%
|
0.40
|
800.00
|
InsuraGuest Technologies has developed a proprietary
insurtech platform, called InsuraGuest, it is designed to deliver specialized
insurance products to the hotel and vacation rental market. The specialized
guest protection policy, called the Hospitality Liability Policy, serves as the
first line of defense for both the property and the guest.
Hotels and vacation rental properties purchase
an InsuraGuest Hospitality Liability Policy. This policy is then
automatically placed on the guest folio as a mandatory charge at the time of
check in. The property pays for the policy on a nightly per-guest basis, which
they pass along to the guest, and this is where the company generates revenue.
The platform was created to fill the gap that traditional
traveler’s insurance misses, as this type of insurance does not cover a number
of things that can happen inside hotels or other travel properties, putting at
risk both the traveler and the property owner. People often mistakenly assume
that accidents happening at such a property are automatically covered by the
property owner’s insurance, but that is not always the case.
Because InsuraGuest extends beyond hotels to the vacation
rental industry, the growth potential in companies like Airbnb and VRBO is
encouraging for InsuraGuest’s investors. With over $57 billion in rental
revenue in 2019 and a growth rate of 6.9% (http://ibn.fm/CFVRH), the vacation rental industry
continues to expand as more and more people each year take advantage of the
variety of benefits vacations rentals offer.
The company’s insurtech platform can integrate with around
71 different property management systems, giving it access to millions of rooms
worldwide and to significant growth opportunities in larger markets. Europe’s
hospitality stay market is more than double the market size in the United
States, indicating room for significant potential in serving hotel and vacation
rental guests with InsuraGuest’s insurance platform.
As the company’s Hospitality Liability Policy covers a wide
range of issues, including in-room damage and lost and stolen goods, and
provides coverage for accidental, medical, death or dismemberment, InsuraGuest
can be a valuable partner to hospital and vacation rental entities, helping
them minimize damaging publicity about adverse events by offering a
comprehensive insurance solution.
For more information, visit the company’s website at www.InsuraGuest.com
NOTE TO INVESTORS: The latest news and updates
relating to ISGI are available in the company’s newsroom at http://ibn.fm/ISGI
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480.374.1336 Office
Editor@QualityStocks.com
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