InsuraGuest Technologies (TSX.V: ISGI) (OTCQB: ISGIF), a leading U.S. insurance brokerage and consulting firm, has announced a new product: Limited-Service Hospitality Liability coverages. The product is offered through ISGI’s wholly owned U.S. subsidiary InsuraGuest RPG (“RPG”). The new product will be available to qualifying hotels, which are franchise limited-service hotels with less than 100 rooms and an average daily rate (“ADR”) under $100 a night. Of the 55,900-plus hotel properties in the United States, 33,000 are limited-service hotels, so the intended audience for the new service is impressive. ISGI’s property management system currently integrates with 82 different property management systems through its proprietary API (“API”). The system allows an organization to transfer certain liability exposures to the InsuraGuest carrier; the covered hotel or vacation rental property can lower its claim ratio and risk profile by taking advantage of the program, which can also decrease the property’s general liability premiums. “Franchised limited-service hotels make up 59% of the U.S. market, so we have designed a solution at a price point that meets their needs while protecting their properties on a primary basis,” said InsuraGuest Technologies chairman and CEO Douglas Anderson in the press release.
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About InsuraGuest Technologies Inc.
Harnessing the power of technology to reinvent insurance. InsuraGuest Technologies is an insurtech (insurance + technology) company that is disrupting the insurance landscape by utilizing its proprietary software platform to deliver digital insurance to multiple sectors. The company is transforming the way insurance is delivered with the revolutionary idea that insurance should be bought, not sold. For more information, visit the company’s website at www.InsuraGuest.com.
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