- The
deal with Roger Bloss and his company will help expand the reach of
InsuraGuest’s insurance platform
- InsuraGuest’s
platform can integrate with 71 hotel and vacation rental property
management systems, giving it access to millions of rooms worldwide
- Vacation
rental revenue stood at $57,669 billion in 2019 with a market growth rate
of 6.9%
InsuraGuest Inc., developers of a proprietary InsurTech
platform to deliver insurance products to the hotel and vacation rental market,
has signed an international sales contract with world-famous hotelier Roger
Bloss and his company Cal-Vegas, Inc. The contract with InsuraGuest will help
Bloss leverage his vast network and experience to boost hotel sales and
onboarding of InsuraGuest’s platform around the world.
“InsuraGuest is unlike any other InsurTech product on the
market, and Roger Bloss is unlike any hotelier,” Douglas Anderson, chairman and
CEO of InsuraGuest stated in a news release (http://ibn.fm/1MSfd). “We are proud and honored to work
with someone of Roger’s caliber to provide the benefits of InsuraGuest to many
more hotels around the world.”
Bloss has over four decades of experience in the hospitality
industry. He founded Vantage Hospitality Group in 1996 and has held executive
positions with several major hotel franchise companies. Cal-Vegas was formed to
own and manage lodging facilities throughout the U.S. on behalf of third-party
owners as well as for its own account.
The contract will allow InsuraGuest to further expand its
international reach. The company has already gained a firm foothold on the
rapidly growing vacation rental market with its proprietary software platform
offering specialized insurance coverage to all guests from check-in to
check-out (http://ibn.fm/Zqb17).
Vacation rental revenue was $57.669 billion with a market
growth rate of approx. 7% in 2019. U.S. travel to overseas markets totaled 35.1
million, up by 7%. About 25 percent of Americans report engaging with
short-term rental platforms (23 percent), up 277 percent. The vacation rental
market is projected to reach $63 billion by 2024, advancing at an annual growth
rate of 5.51 percent in 2020.
InsuraGuest entered the vacation rental sector at the end of
September 2019 by signing a software integration deal with San Francisco-based
Hostfully, Inc., rated as one of the best property management systems in the
world. InsuraGuest’s InsurTech platform can integrate with around 71 different
property management systems, giving it access to millions of rooms worldwide.
The company’s proprietary software platform delivers a
specialized guest protection policy to the hotel or vacation rental property to
protect the guest during their stay while on the property. Hotels and vacation
rental properties purchase an InsuraGuest Guest Protection Policy, which is
automatically extended to each of their guests, including their room occupants,
at the time of check-in; similar to a resort or amenity fee. The specialized
policy covers accidental in-room damage, theft and damage of personal property,
as well as accidental medical expenses and accidental death and dismemberment.
The policy was created to fill a gap left by traditional
traveler’s insurance, which doesn’t cover a number of things that can happen
inside hotels or vacation rental properties, putting both the guest and the
hotel or property owner at risk. InsuraGuest Guest Protection Policy is
complimentary to homeowners and/or general liability insurance coverage,
serving as the first line of defense for the guest and the property.
InsuraGuest is working to expand the scope of its insurance
products to cover European Union member states and the United Kingdom, as well
as Asia before mid-2020. Europe’s hospitality stay market is more than double
the market size in the United States, which means the InsuraGuest insurance
platform has even greater potential in serving hotel and vacation rental
guests. Europe accounts for 60 percent of all the vacation rental companies in
the world, and the rest of the world accounts for 20 percent.
For more information, visit the company’s website at www.InsuraGuest.com
NOTE TO INVESTORS: The latest news and updates
relating to InsuraGuest are available in the company’s newsroom at http://ibn.fm/InsuraGuest
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www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
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