InsuraGuest Inc. Plans to Expand InsuraTech Platform into Europe, Asia
Service-as-a-software (SaaS) company InsuraGuest Inc. delivers a specialized insurance policy that protects guests during their stay at hotels and vacation rental properties. Through its proprietary InsurTech software platform, InsuraGuest provides the first line of defense for clients, properties and guests in an industry that is expected to host more than 297 million total vacation rental users worldwide in 2019 (http://nnw.fm/2efgJ).
The InsurTech software platform delivers guest protection, acting as the first line of defense against accidents and losses for both the guest and the hotel or vacation rental property. When vacation rentals and hotels purchase the InsuraGuest protection policy, the coverage extends to the property’s guests once they check in. InsuraGuest provides specific coverage for such things as accidental damage to rooms, lost or stolen items, medical expenses, death or dismemberment (http://nnw.fm/ur4wQ).
InsuraGuest provides software can integrate with more than 70 hotel and vacation rental property management systems worldwide. InsuraGuest is being integrated with vacation rental property management systems like Hostfully Inc. out of San Francisco and their system Orbirental, which currently has approximately 2,500 properties onboarded.
InsuraGuest is also working to expand the scope of its InsurTech platform and insurance products to cover European Union member states and the United Kingdom, while expansion plans include entering Asia by mid-2020 (http://nnw.fm/856Uu). InsuraGuest has already signed a letter of intent with a licensed Master General Agent operating in these markets, which will allow the company to distribute its products and proprietary platform to the hotel and vacation rental markets in these regions.
According to InsuraGuest CEO Douglas Anderson, there were 2.8 billion hotel nights stayed in Europe, compared to approximately 1.1 billion in the U.S. in 2018. With distribution in Europe and the United States, InsuraGuest’s combined demographics will total 3.9 billion nights stayed, and will more than double its vacation rental opportunities.
About InsuraGuest. Inc.
InsuraGuest Technologies Inc. (TSX.V: ISGI) is a software company that utilizes its proprietary insurtech (insurance + technology) platform to deliver digital insurance to its customers. Its first product, InsuraGuest Hospitality, delivers custom Hospitality Liability coverages to hotels and vacation rentals. InsuraGuest coverages are purchased by the hotels and vacation rental properties, which can address covered claims from guests and their room occupants during their stay.
For more information, visit the company’s website at www.InsuraGuest.com