Via NetworkWireInsuraGuest Technologies, Inc.® (TSX-V: ISGI) (the "Company" or "InsuraGuest"), through its wholly owned U.S. subsidiary Insure The People, LLC ("ITP"), is pleased to announce it has launched its new Business Owner Policy ("BOP") insurtech (insurance + technology) portal, www.InsureThePeople.com .
ITP is powered by InsuraGuest's insurtech platform, which will digitally deliver BOPs to 130+ class codes, including retail, wholesale, mercantile, office and business service classes. The BOP product is now available in all 50 states as well as the District of Columbia, where InsuraGuest Insurance Agency is licensed to sell insurance, and is eligible for companies that have sales of up to US$6 million per location, with occupancies up to 35,000 square feet, on a minimum annual premium of US$250.
ITP's BOP includes:
- Property coverage for building and business property, business income and extra expenses.
- Enhanced equipment breakdown (includes micro-circuity).
- General liability – occurrence limits: US$300,000, US$500,000, US$1 million and US$2 million.
- Employment practices liability.
"We are now taking digital insurance and reimagining it, reinventing it and revolutionizing it by harnessing the power of our insurtech platform to deliver that digital insurance to the small-business owner," states Douglas Anderson, chairman and CEO of InsuraGuest. "Additionally, by offering InsureThePeople.com to small businesses, we are helping them limit their risks and protect the assets they have worked so hard to create."
InsuraGuest Insurance Agency will administer InsureThePeople.com policies in all 50 states and the District of Columbia.
The policies are underwritten by Crum & Forster through its C&F Digital Partners division, which is focused on providing small business insurance in a touchless, digital environment. Crum & Forster is a subsidiary of Fairfax Financial Holdings Limited.
InsuraGuest Technologies Inc.
Harnessing the Power of Technology to Reinvent Insurance
InsuraGuest Technologies (TSX.V: ISGI) (OTC: IGSTF) is an insurtech (insurance + technology) company that's disrupting the insurance landscape by utilizing its proprietary software platform to deliver digital insurance to multiple sectors. We're transforming the way insurance is delivered with the revolutionary idea that insurance should be bought, not sold.
CA / LIC: 6001686
Crum & Forster
Crum & Forster*, rated A (Excellent) by A.M. Best (2020), is a national property and casualty insurance company wholly owned by Fairfax Financial Holdings Limited. C&F Digital Partners is part of Crum & Forster and offers a selection of standard and enhanced insurance products, including a Business Owners Policy and on-demand coverage for freelance and gig economy workers in a broad spectrum of industries.
*Crum & Forster is a registered trademark of United States Fire Insurance Company.
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 in the business owner policy sector and the Company's competitors have significantly more resources than the company; acceptance by potential customers is difficult to predict, particularly in the case of new products and disruptive technologies; if the company fails to achieve market acceptance it 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.
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