VANCOUVER, BC / ACCESSWIRE / December 2, 2021 / InsuraGuest Technologies, Inc.® (TSX-V:ISGI)(OTCQB:ISGIF) ('InsuraGuest' or the 'Company'), through its wholly owned U.S. hospitality subsidiary InsuraGuest® announces it has launched its strategic alliance with SUITELIFE Underwriting Mangers, a division of the Ryan Specialty Group family and a part of RSG Underwriting Managers, LLC, the managing general underwriting specialty of Ryan Specialty Group.
SUITELIFE works with top-rated insurance companies, specialty claims administrators and offers strategic loss prevention relationships to help retail agents and brokers better control their hotel client's exposure to risk. The SUITELIFE program is customized for each type of hotel or resort, combining comprehensive coverage, responsive underwriting, exceptional service, risk management tools and competitive premiums, available exclusively through independent insurance agents and brokers.
Under SUITELIFE, insured organizations are eligible to become a Preferred Customer of InsuraGuest.
Charles Cayias, President of InsuraGuest Insurance Agency, stated, 'An average hotel has 150 rooms, with an average occupancy of 60%. Our alliance with SUITELIFE gives us direct access to 700 plus hotel and resort customers in SUITELIFE's portfolio, which equates to over 100k rooms, or over 22 million nights stayed per year.'
Property Management System Integration
InsuraGuest integrates with hotel property management software through its proprietary API, which will enable hotel users to transfer certain liability exposures to the InsuraGuest carrier. By transferring certain liabilities to the InsuraGuest Hospitality Liability coverages, the covered short-term rental policy can lower the hotels claim ratios and risk profiles, which may decrease their umbrella liability policy and/or their GL policy.
The hotel entity automatically attaches the InsuraGuest coverage to each reservation, which activates at check-in and de-activates it upon check-out. The complete fee for coverage and software is $4.95 per night.
About InsuraGuest Technologies Inc.
Harnessing the Power of Technology to Reinvent Insurance
InsuraGuest Technologies (TSX.V: ISGI) is an insurtech (insurance + technology) company that is disrupting the insurance landscape by utilizing its proprietary software platform to automatically attach its short-term rental insurance products to vacation rentals and hotels.
CA / LIC: 6001686
For more information, visit the company's website at: www.InsuraGuest.com
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. There is no assurance that this new business product offering, or other planned products will be successful. The insurance industry is intensely competitive, and the Company's competitors have significantly more resources than the Company. Acceptance by potential customers is difficult to predict, particularly in the case of new products and disruptive technologies. If the Company fails to achieve market acceptance, this will significantly impact its results and financial resources. Achieving market acceptance may require advertising budgets that exceed the Company's current resources and require the Company to seek additional debt or equity financing. There is no assurance that such financing will be available at reasonable prices or at all.
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InsuraGuest Technologies, Inc.
+1 646 413 9401
SOURCE: InsuraGuest Technologies Inc.
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