Company Profiles

InsuraGuest

TSXV:ISGI

The First Line of Defence For Guests

Press Releases

Overview

InsuraGuest Inc. (TSXV:ISGI) is a SaaS (Software-as-a-Service) company utilizing its proprietary flagship InsurTech (insurance technology) software platform to provide specialized insurance products to member hotels, resorts, and vacation rental properties worldwide. The company’s API integrates with the clients’ property management systems to enable the property to automatically extend guests a specialized protection policy from check-in to check-out for a nightly fee. The platform and policy combination product help transfer the exposure to liability away from the client/property while guests benefit from potential accident and loss coverage during their stay.

InsuraGuest’s proprietary InsurTech software platform provides two-way communication with the properties management system, allowing for a fully audited and trackable transaction for each guest.

The travel insurance market is projected to grow by eight percent through 2025, partially driven by increased insurance usage, increasing tourism levels around the world, and new vacation property options like AirBnB and VRBO. InsuraGuest intends to target this market by integrating its InsuraGuest software platform with leading vacation rental platforms and hospitality services. The company’s software can integrate with a majority of the property management services (PMS) market, including systems used by Hilton, Marriot, HomeAway, AirBnB, and NextTrip, which gives them access to millions of properties worldwide.

AirBnB, HomeAway, and other leading vacation rental services are projected to drive growth in the vacation rental space moving forward as travelers continue to try new accommodation options. According to PhocusWire, over 100 million users rented vacation properties in 2019, a number that is expected to grow by a CAGR of 28 percent through 2023. InsuraGuest is targeting this market by offering a convenient and straightforward means for rental platforms to integrate with the InsuraGuest system and provide their specialized guest protection policy.

InsuraGuest’s Company Highlights

  • Targeting hotels and vacation rentals, a multi-billion-dollar industry
  • 6.8 billion hotel nights stayed worldwide
  • Vacation rental market projected to grow annually 8.5 percent through 2025
  • 100 million total vacation rental users in 2019
  • InsuraGuest platform automatically provides a specialized protection policy to the guest from check-in to check-out
  • InsuraGuest platform has the ability to integrated with approximately 85 percent of hotel and vacation rental PMS systems used around the world
  • InsuraGuest insurance product is an industry-first insurance package based on the traveler/guest, rather than the destination.
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