- Trading volume increased rapidly during the first four days of trading
- Company has excellent prospects on vacation rental market, which totaled nearly $68 billion in revenue in 2019
- InsuraGuest’s Hospitality Liability Policy covers a wide range of issues, being designed to serve as the first line of defense for guests and properties alike
InsuraGuest Technologies Inc. (TSX.V: ISGI) commenced trading common shares on the TSX Venture Exchange at the opening bell on Friday, February 28, 2020. The company opened with a trading volume of 2,000 shares at $0.4 per share. The price dipped slightly but began rising again as the trading volume increased significantly to more than 200,000 shares over the following days.
Trading volume and share price evolution during the first four days of trading are detailed below:
| Date | Open | High | Low | Close | Volume | Chg | % Chg | Adj. Close | Trade Val | # Trades |
| 03/04/20 | 0.34 | 0.34 | 0.255 | 0.255 | 198.25k | -0.085 | -25.00% | 0.255 | 54.85k | 22 |
| 03/03/20 | 0.30 | 0.34 | 0.25 | 0.34 | 207k | 0.02 | 6.25% | 0.34 | 63.63k | 34 |
| 03/02/20 | 0.32 | 0.32 | 0.32 | 0.32 | 20k | -0.08 | -20.00% | 0.32 | 6.4k | 7 |
| 02/28/20 | 0.40 | 0.40 | 0.40 | 0.40 | 2k | 0.40 | 0.00% | 0.40 | 800.00 | |
InsuraGuest Technologies has developed a proprietary insurtech platform, called InsuraGuest, it is designed to deliver specialized insurance products to the hotel and vacation rental market. The specialized guest protection policy, called the Hospitality Liability Policy, serves as the first line of defense for both the property and the guest.
Hotels and vacation rental properties purchase an InsuraGuest Hospitality Liability Policy. This policy is then automatically placed on the guest folio as a mandatory charge at the time of check in. The property pays for the policy on a nightly per-guest basis, which they pass along to the guest, and this is where the company generates revenue.
The platform was created to fill the gap that traditional traveler’s insurance misses, as this type of insurance does not cover a number of things that can happen inside hotels or other travel properties, putting at risk both the traveler and the property owner. People often mistakenly assume that accidents happening at such a property are automatically covered by the property owner’s insurance, but that is not always the case.
Because InsuraGuest extends beyond hotels to the vacation rental industry, the growth potential in companies like Airbnb and VRBO is encouraging for InsuraGuest’s investors. With over $57 billion in rental revenue in 2019 and a growth rate of 6.9% (http://nnw.fm/7BD8o), the vacation rental industry continues to expand as more and more people each year take advantage of the variety of benefits vacations rentals offer.
The company’s insurtech platform can integrate with around 71 different property management systems, giving it access to millions of rooms worldwide and to significant growth opportunities in larger markets. Europe’s hospitality stay market is more than double the market size in the United States, indicating room for significant potential in serving hotel and vacation rental guests with InsuraGuest’s insurance platform.
As the company’s Hospitality Liability Policy covers a wide range of issues, including in-room damage and lost and stolen goods, and provides coverage for accidental, medical, death or dismemberment, InsuraGuest can be a valuable partner to hospital and vacation rental entities, helping them minimize damaging publicity about adverse events by offering a comprehensive insurance solution.
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://nnw.fm/ISGI
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is part of the InvestorBrandNetwork.
