- InsuraGuest Technologies is an insurtech company disrupting the insurance landscape by utilizing its proprietary software platform to deliver digital insurance to multiple sectors
- InsuraGuest’s new Business Liability product, administered through the company’s website InsureThePeople.com, will deliver coverage for more than 130 business class codes, including business property, business income, and general liability
- The insurtech industry is expected to see a CAGR of 10.8 percent between 2019 and 2025, according to ResearchAndMarkets.com analysts, delivering global revenues of $10.14 billion by 2025
The fast pace of technological change continues to drive changes in the way we work, and today, small businesses now account for 99% of American companies. Small business continues to evolve at a rate unseen by past generations – driven not only by emerging technologies but also by disruptive conditions such as the COVID-19 pandemic. Add in the nation’s 64.8 million freelancers, and there’s massive potential among small business owners and entrepreneurs who have evolving needs and are currently underserved in the business insurance space. InsuraGuest Technologies (TSX.V: ISGI), an insurtech company, is responding to that need in a way that’s revolutionizing insurance for small businesses.
Affordable insurance coverage remains a core need for the business community, and the insurtech industry provides a nimble response to the changing conditions companies are dealing with amid this evolutionary trend. Insurtech software company InsuraGuest Technologies, Inc. (TSX.V: ISGI) already established itself as a Hospitality Liability Policy solution for the hotel and vacation rental industry, but recently began to upscale its offerings for a much broader clientele.
“We are taking digital insurance and reimagining it, reinventing it, and revolutionizing it by harnessing the power of our insurtech platform to deliver that digital insurance to multiple sectors,” InsuraGuest Chairman and CEO Douglas Anderson stated in a recent news release (http://nnw.fm/oX8a1) about the company’s new Business Owner Policy (“BOP”) insurtech portal, www.InsureThePeople.com. “Additionally, by advancing our product offerings, we are creating multiple avenues of revenue, which will result in greater shareholder value.”
Through its wholly-owned U.S. subsidiary, Insure The People, LLC,(www.InsureThePeople.com), InsuraGuest will digitally deliver BOP policies to cover more than 130 class codes, including business property coverage, business income, enhanced equipment breakdown (such as micro-circuity), general liability and employment practices liability at the outset.
Once the portal launches, InsureThePeople (“ITP”) expects to add coverage for sectors such as Blanket Additional Insured, employee benefits liability, hired and non-owned auto, liquor liability, miscellaneous professional liability, scheduled property floater, cyber risk, workers’ comp, errors and omissions, and directors’ and officers’ coverages.
InsuraGuest Insurance Agency will operate InsureThePeople.com policies in all 50 states and the District of Columbia, where InsuraGuest Insurance Agency is licensed to sell insurance. The company also just celebrated the news that it can finish streamlining how it issues policies for its hospitality coverage, thanks to a certificate of compliance issued to the company’s wholly-owned U.S. subsidiary InsuraGuest Risk Purchasing Group, LLC (“RPG”) by the Insurance Department for the state of Utah, where InsuraGuest’s headquarters are located.
The insurtech industry is expected to continue its upward trajectory as an increasing number of businesses evaluate their strategies to keep up with the evolving marketplace worldwide. A recent report by analysts at ResearchAndMarkets.com projected that global market revenue for the industry will reach $10.14 billion by 2025, growing at a CAGR of 10.80 percent during the six years leading up to that point (http://nnw.fm/n64CU). Expect InsuraGuest Technologies to be leading the way.
For more information, visit the company’s website at www.InsuraGuest.com.