- The
specialized insurance provider is expanding into multiple specialized
sectors, focuses on higher service speed and personalization
- Hospitality
Liability Policy covers theft and damage of personal property, accidental
medical expenses, and accidental death and dismemberment
- Insurtech
sector growing at a fast pace, attracting billions in investment
InsuraGuest Insurance Agency LLC, wholly owned by insurtech
software company InsuraGuest Technologies Inc. (TSX.V: ISGI), is now
licensed to sell all lines of insurance in 48 out of the 50 U.S. states and
Washington, D.C. “As the world navigates and accommodates to new changes due to
COVID-19, we continue to forge forward and build InsuraGuest to produce more
product offerings so we can better serve our customers and build shareholder
value,” InsuraGuest Technologies CEO and Chairman Douglas Anderson stated in a
company press release (http://ibn.fm/8ZwFu).
The Agency is registered and licensed to sell accident and
health, casualty, life and property insurance in Alabama, Alaska, Arizona,
Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia,
Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine,
Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska,
Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota,
Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota,
Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia,
Wisconsin, Wyoming and the District of Columbia.
The Agency has applied and expects to be approved to sell
insurance in the remaining two states of Massachusetts and New York within the
next 30 days.
Insurance is one of the oldest and most traditional
industries. Over the past few years, insurtech software company InsuraGuest
Technologies have begun to encroach on major players’ territory by providing an
insurtech software platform which can deliver digital insurance to multiple
sectors. Insurtech in particular has seen a sharp increase in funding, with
approximately $16.5 billion invested in the sector over the past 10 years. The
pace of investment is on the rise (http://ibn.fm/Ck9uq), with $2.2 billion raised in the first
half of 2019 alone (http://ibn.fm/VNo47).
InsuraGuest Technologies’ insurtech software currently
targets hotels and vacation rentals, with the long-term goal to expand
offerings to a wider audience and into revenue streams. The company aims to
move into providing its software, that alleviates the process of insuring
mainstream sectors, with a focus on providing higher service speed, ease of
purchasing insurance, and personalization. InsuraGuest is working to expand its
product offering and the reach of its platform via brokers and agents who can
sign up instantly through a fully automatized agency/broker software program. These
agents and brokers can then take InsuraGuest’s current Hospitality Liability
product to their own customers, helping speed up the platform and products’
expansion.
The company’s proprietary insurtech software platform is
already operational in the hospitality industry, where it provides specialized
gap insurance, which can address accidents or theft incurred by a guest during
their stay at hotels and vacation rental properties. Traditional travelers’
insurance doesn’t cover a number of things that can happen inside hotels or
other travel properties, putting both the traveler and the hotel or property
owner at risk. InsuraGuest’s proprietary insurtech platform delivers its
specialized Hospitality Liability coverages to its hotel and vacation rental
members, which becomes the first line of defense for the properties if an
accident or theft is incurred by a guest or their occupants during their stay.
The Hospitality Liability coverages address a wide range of issues, from theft
and damage of personal property to accidental medical expenses, death and
dismemberment.
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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www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
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