Insuraguest Tech Stock Price, News & Analysis

InsuraGuest Technologies, Inc. (TSXV:ISGI)(OTCQB:ISGIF) has enhanced its vacation rental insurance by increasing Property Damage coverage to $25,000 per reservation, responding to customer demand for more protection. This change allows customers to choose from coverage levels of $1,000, $10,000, and $25,000. The insurance operates on a no-fault primary basis, activating coverage at check-in and deactivating it at check-out, ensuring comprehensive protection for both guests and properties.

InsuraGuest Technologies (TSXV:ISGI)(OTCQB:ISGIF) announced a strategic alliance with SUITELIFE Underwriting Managers, effective October. This collaboration aims to offer tailored insurance solutions to over 700 hotels within SUITELIFE's portfolio, enhancing InsuraGuest's credibility in the hospitality sector. The integration of InsuraGuest’s proprietary API into hotel management systems will facilitate automatic coverage activation for short-term rentals, potentially lowering insurers' claim ratios. The complete fee for this coverage is $4.95 per night.

InsuraGuest Technologies has signed a significant vendor agreement with iGMS, a leading vacation rental software provider. This partnership allows users of iGMS, which manages over 127,000 listings, to access InsuraGuest's insurance coverages seamlessly. InsuraGuest's products automatically attach to each reservation, providing no-fault primary insurance for guests' medical claims and property damage. This collaboration aims to enhance operational efficiency for vacation rental managers and improve coverage for guests.

InsuraGuest Technologies, Inc. (TSXV: ISGI, OTCQB: ISGIF) announced a vendor agreement with LMPM, a leading property management system for vacation rentals. This partnership will allow InsuraGuest's insurance products to be integrated with LMPM’s API, enabling vacation rental hosts and property management companies to offer InsuraGuest coverage automatically. The vacation rental sector saw a 89% growth last year, prompting InsuraGuest to expand its connections with various property management systems to enhance its market presence and service offerings.

InsuraGuest Technologies, Inc. has appointed Jim Kilduff as Chief Insurance Officer, bringing extensive expertise from his background in insurance consulting and management. Kilduff founded Harbor Hill Solutions and has significant experience in developing insurance programs for Insurtech firms. He previously served at Outdoorsy.com, enhancing their insurance offerings. The company announced the granting of 300,000 stock options to Kilduff at $0.35 per share, vesting with revenue milestones. Additionally, shareholders exercised 2,436,858 warrants, raising $852,900.

InsuraGuest Technologies (TSXV:ISGI)(OTCQB:ISGIF) has partnered with OwnerRez, a vacation rental management platform, to integrate its insurance API. This integration allows OwnerRez users, including property managers and professional hosts, to purchase InsuraGuest's unique primary no-fault accidental medical coverage for guests. The automatic coverage activation occurs at check-in for a fee of $11.95 per night, potentially reducing claims and lowering insurance premiums for properties. Despite this advancement, market acceptance remains uncertain in a competitive insurance landscape.

InsuraGuest Technologies has appointed Reed Wright as President, enhancing its leadership in the insurtech sector. Wright, a veteran in technology and hospitality, co-founded AXIS41 and has extensive experience in digital marketing and corporate integrations. He aims to leverage his background to advance InsuraGuest's digital insurance solutions. The company has also granted Wright 1,600,000 stock options at $0.35 per share, vesting over time and based on revenue milestones. This strategic hire aims to propel growth and innovation within the industry.

InsuraGuest Technologies (TSX-V: ISGI) has entered into a vendor agreement with Hostaway, a leading vacation rental property management software provider. This partnership allows Hostaway users to purchase InsuraGuest Hospitality Liability coverages directly through their dashboard. The coverage includes protection for accidental property damage, theft, and medical expenses linked to guests. InsuraGuest's integration through Hostaway's API aims to reduce claim ratios for property managers. The comprehensive fee for this coverage is set at $11.95 per night.

InsuraGuest Technologies (TSXV:ISGI)(OTCQB:ISGIF) has reported growth in its vacation rental business after integrating with Hostfully and Guesty property management systems. The company signed multiple property management firms across various states, including Utah and California. Additionally, insiders exercised 2,774,666 warrants at $0.20, raising $554,933. At the upcoming AGM on May 27, shareholders will vote on extending 10,580,000 warrants and changing from a 10% rolling option to a fixed 20% plan. The company anticipates increased travel demand as COVID-19 restrictions ease.