InsuraGuest Launches Luxury Insurance Coverage Solution for Its Hospitality Liability Product Suite

Rhea-AI Summary

InsuraGuest Technologies (TSXV: ISGI) (OTCQB: ISGIF) has launched a new luxury insurance coverage solution within its Hospitality Liability product suite. The new offering is specifically designed to protect high-value items in luxury vacation rentals from accidental damage or theft by guests.

The development comes in response to direct feedback from property owners in the high-end segment seeking enhanced protection for valuable assets. This addition expands InsuraGuest's technology stack, which already includes specialized Hospitality Liability and Sports & Events Activity insurance.

According to President Reed Wright, this strategic move aims to support the company's long-term profitability goals while driving growth in covered properties and ski ticket sales. The premium coverage solution is designed to provide property owners and operators with confidence in offering luxury vacation rentals and hotel stays.

Positive

• Launch of new premium insurance product targeting luxury market segment
• Expansion of existing product suite in response to market demand
• Strategic alignment with long-term profitability goals

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - January 6, 2025) - InsuraGuest Technologies, Inc.® (TSXV: ISGI) (OTCQB: ISGIF) ("InsuraGuest" or the "Company"), a leading Insurtech innovator, is pleased to announce the launch of a new luxury insurance coverage solution, further expanding its subscription-based business offerings.

The new coverage is designed to address the unique needs of luxury vacation rentals by providing protection for high-value items. The decision to introduce this luxury coverages follows direct feedback from property owners in the high-end segment, who sought enhanced coverage for valuable assets at a risk of accidental damage or theft by guests.

"We are excited to introduce this new luxury coverage solution," said Reed Wright, President of InsuraGuest Technologies Inc. "By adding this coverage, we continue to expand our technology stack to meet the evolving needs of our customers. This solution will enable our growing customer base, including luxury properties, to better protect their assets, and it reinforces our position as a leader in the hospitality insurance space. Additionally it supports our long-term goal of achieving profitability while driving further growth in our covered properties and ski ticket sales."

InsuraGuest's platform, which has already proven successful in providing specialized Hospitality Liability and Sports & Events Activity insurance, now offers an added layer of security for luxury properties. This premium coverage is designed to ensure that owners and operators can confidently offer vacation rentals or hotel stays, knowing their valuable items are protected. Full details of the coverage are available at InsuraGuest Premium Coverage.

About InsuraGuest Technologies Inc.

Harnessing the Power of Technology to Reinvent Insurance

InsuraGuest Technologies (TSXV: ISGI) (OTCQB: ISGIF) is an innovative Insurtech company. InsuraGuest delivers insurance and/or warranty program coverages to vacation rentals, hotels, resorts, and ticketed events, including sports activities. The Company provides its clients with a streamlined, tech-driven solution for managing risks and protecting assets in the hospitality sector. With a continued focus on growth and profitability, InsuraGuest is expanding its product offerings to meet the needs of a rapidly evolving marketplace.

CA / LIC: 6001686

For more information, visit the company's website at: www.InsuraGuest.com

The 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 regulated, and the Company's competitors have significantly more resources than the Company. Acceptance by potential customers, and critical review by regulators, 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.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Company Contact:
InsuraGuest Technologies, Inc.
Media Relations
Reed Wright
media@InsuraGuest.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235983

FAQ

What is InsuraGuest's new luxury insurance coverage offering for ISGIF investors?

InsuraGuest has launched a new insurance solution specifically designed to protect high-value items in luxury vacation rentals from accidental damage or theft by guests, expanding their Hospitality Liability product suite.

How does the January 2025 luxury coverage launch affect InsuraGuest's growth strategy?

The launch supports InsuraGuest's long-term profitability goals by expanding their market presence in the luxury segment while driving growth in covered properties and ski ticket sales.

What market need does InsuraGuest's new luxury insurance product address?

The product addresses the need for enhanced protection of valuable assets in luxury vacation rentals, developed in response to direct feedback from high-end property owners.

What existing insurance products does ISGIF offer alongside the new luxury coverage?

InsuraGuest offers specialized Hospitality Liability and Sports & Events Activity insurance, with the luxury coverage being the latest addition to their product suite.