Travel-accommodations insurance provider InsuraGuest Technologies (TSX.V: ISGI) is positioned to benefit from the major growth trajectory in the vacation-rental space after the anticipated recovery of the hospitality sector. A recent article discussing the company reads, “In 2019, the vacation rental industry generated revenues of $57.7 billion (http://nnw.fm/4hrfF), with sales expected to rise to $97.01 billion by 2023 (http://nnw.fm/31oWe). Increasingly, travelers are opting for vacation rentals rather than hotels during their trips, with 71% of travelers with children saying that the ability to cook their own meals was a major draw. However, despite the rising penetration rate of vacation rentals, growth rates in the United States have still lagged those seen elsewhere, with European vacation rentals and holiday lets outnumbering those in the United States by nearly 300%. Nonetheless, the striking growth rates enjoyed by the industry have not been without their challenges. . . . Over 70% of global vacation-rental companies manage 1–19 units, with their limited scale severely constraining their ability to respond to unforeseen circumstances and liabilities. It is in the context of this challenge that InsuraGuest’s unique proprietary insurance software has gained particular prominence within the sector. One of InsuraGuest Technologies focused sectors helps provide specialized hospitality liability insurance coverage to both vacation rentals and the hotel industry through their digital insurance platform. The Hospitality Liability coverages provides a layer of protection for the property, which benefits the guests and their occupants, including in-room damage and lost or stolen goods as well as coverage for accidental, medical, death or dismemberment.”
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About InsuraGuest Technologies Inc.
InsuraGuest is a world-leading SaaS (Software-as-a-Service) company that utilizes its proprietary insurtech (insurance + technology) flagship software, InsuraGuest, to deliver custom Hospitality Liability coverages through its wholly owned subsidiary, InsuraGuest Risk Purchasing Group LLC. Through the combination of InsuraGuest’s integrated software and custom coverages, guests benefit from the property having InsuraGuest if there are losses during their stays. InsuraGuest coverages are purchased by the hotels and vacation-rental properties, which can address claims from guests and their room occupants during their stays. The InsuraGuest Hospitality Liability coverages insert a layer of protection on a primary basis should a guest or their room occupants experience an accident and/or theft during their stays at insured hotels or vacation-rental properties. For more information, visit the company’s website at www.InsuraGuest.com.
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