Welcome to our dedicated page for Insuraguest Tech news (Ticker: ISGIF), a resource for investors and traders seeking the latest updates and insights on Insuraguest Tech stock.
InsuraGuest Technologies Inc. (OTCQB: ISGIF) generates news as an insurtech company focused on hospitality, vacation rentals, and participant events. Company announcements frequently highlight developments in its proprietary software platform, which delivers digital insurance and warranty coverages to vacation rentals, hotels, resorts, and ticketed events, including sports activities.
News updates often cover financial results, where InsuraGuest reports changes in revenue, gross margin, and comprehensive loss over multi-month periods. These releases explain how growth in vacation rental properties, participant event programs, and ski-related offerings contribute to overall performance, and how cost management efforts affect operating expenses.
Investors can also find coverage of product launches and enhancements. For example, InsuraGuest has announced a luxury insurance coverage solution aimed at high-end vacation rentals, designed to protect high-value items from accidental damage or theft by guests. Other news items describe the company’s specialized Hospitality Liability and Sports & Events Activity coverages, as well as subscription-based offerings delivered through its insurtech platform.
Corporate and capital markets developments are another recurring theme. The company has issued releases on rights offerings, share-for-debt transactions, and board appointments, outlining how these actions support its balance sheet, governance, and growth plans. Event participation, such as attendance at short-term rental forums, is also featured, providing insight into how InsuraGuest engages with short-term rental owners and operators, technology providers, and other industry stakeholders.
This news page allows readers to follow InsuraGuest’s ongoing disclosures about its hospitality-focused insurance programs, technology platform, and corporate actions. Regular updates provide context on how the company is expanding its offerings, managing risk for clients, and pursuing its stated objectives in the insurtech and hospitality sectors.
InsuraGuest Technologies announces a new alliance with SIA Group to provide Hospitality Liability coverage to hotel clients. This partnership aims to transfer small property and medical claims to reduce risk and lower insurance premiums. Hotel operators can charge guests a nominal fee of $4.95 per night for coverage, generating additional revenue. InsuraGuest's solution integrates with around 82 property management systems, enhancing claims management. This strategic move is intended to expand InsuraGuest’s reach among SIA's 500+ hospitality customers.
InsuraGuest Technologies (TSXV:ISGI)(OTCQB:ISGIF) reported its quarterly results for the period ended September 30, 2022. The company achieved revenues of $81,405, a significant increase from $40,726 in the same quarter of 2021, attributable to its new vacation rental insurance service. Gross margin was $54,612, up from $32,185 a year prior. Notably, the comprehensive loss narrowed to $190,991 from $598,950. Decreased operating expenses were linked to effective cash flow management and a reduction in marketing costs.
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.
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