Insuraguest Tech Stock Price, News & Analysis

InsuraGuest Technologies (TSXV:ISGI)(OTCQB:ISGIF) reported a 253% revenue growth for the fiscal year ending June 30, 2022, as it continues to expand its insurtech software offerings. The company doubled its vacation rental property clients and launched new products, contributing significantly to its growth. Despite not adding new hotels, InsuraGuest is engaging with hotel groups and focusing on sales and marketing to drive further expansion. The company acknowledges competition in the insurtech space but remains optimistic about its growth trajectory.

InsuraGuest Technologies has formed a strategic marketing agreement with Lodgify, a leading vacation rental software provider. Under this partnership, InsuraGuest's subscription-based vacation rental insurance products will be offered to Lodgify's U.S. users, including hosts and property management companies using platforms like Airbnb and VRBO.

This collaboration aims to enhance property safety and insurance accessibility. InsuraGuest's President highlights the significance of expanding their reach in the short-term rental market via this partnership.

InsuraGuest Technologies (TSXV:ISGI)(OTCQB:ISGIF) has launched a new subscription-based insurance product for the Vacation Rental/Short Term Rentals market. This innovative offering enables property owners and managers to select coverage options for under $1 a day, with 24/7 coverage that can be adjusted seasonally. The product includes unique primary no-fault medical coverage for guests. The company aims to reach a broader audience, including the 1.7 million U.S. rental properties without property management systems, enhancing their market presence.

InsuraGuest Technologies (TSXV:ISGI)(OTCQB:ISGIF) reports its Q1 2022 business outlook, showcasing significant growth. The insurtech company added 185 vacation rental properties and achieved US$433,803 in revenue from its ISG Active division, marking a 251% increase year-over-year. However, cash reserves decreased to $776,718 compared to $870,006 in June 2021. Despite no new hotel clients added, the company is optimistic about future growth in this sector. The company’s proprietary platform aims to enhance insurance offerings for short-term rentals and events.

InsuraGuest Technologies announced financial results for its ISG Active product from December 2021 to March 2022, generating US$260,879 in gross premiums. This consisted of US$160,826 from embedded insurance for online ski ticket buyers and US$100,053 from users opting for enhanced policies. For the 2022-2023 ski season, the company plans to broaden its sales channels, including season passes and walk-up ticket purchases. InsuraGuest aims to expand its insurance products into various online ticketed events, enhancing its revenue potential.

InsuraGuest Technologies (TSXV:ISGI) has announced the launch of its insurance products through TravelNet Solutions' Track software, aimed at hotels, resorts, and vacation rental managers. Users can now purchase supplemental insurance, including medical coverage and theft protection, directly integrated into their reservation process. This integration is designed to position InsuraGuest as the primary coverage for guests, potentially enhancing customer engagement and revenue. The company is leveraging its proprietary technology to disrupt the insurance landscape.

InsuraGuest Technologies (TSXV:ISGI)(OTCQB:ISGIF) reports strong initial sales results from its new sports insurance product, ISG Active, launched for the 2021-22 winter sports season. Over 200,000 participants have purchased the digitally embedded insurance for activities like skiing, snowboarding, and tubing. The company plans to expand offerings with advanced season pass insurance in March 2022 and summer event coverage thereafter. President Reed Wright expressed optimism about market acceptance and higher-than-expected purchase rates.

InsuraGuest Technologies (TSXV:ISGI)(OTCQB:ISGIF) has announced the successful integration of its API with Tokeet, a vacation rental management software provider. This partnership allows InsuraGuest's Hospitality Liability supplemental coverages to be listed on Tokeet's marketplace, enabling users to easily purchase insurance for their short-term rental properties. The embedded insurance becomes automatic, providing a no-fault primary medical coverage option for accidents occurring on the premises. This move is expected to enhance InsuraGuest's market presence in the rental sector.

InsuraGuest Technologies, Inc. (TSXV:ISGI, OTCQB:ISGIF) has announced a strategic alliance with TravelNet Solutions, integrating InsuraGuest's supplemental insurance offerings into TravelNet's Track property management system. This partnership aims to enhance coverage options for hotels, resorts, and vacation rental managers by embedding insurance coverage automatically with each reservation. The collaboration seeks to expand InsuraGuest's reach in the hospitality sector, providing primary medical coverage unique to short-term rentals.