VANCOUVER, British Columbia (December 13, 2021) -- InsuraGuest Technologies, Inc.® (TSX-V: ISGI)(OTCQB: ISGIF) (“InsuraGuest” or the “Company”), through its wholly owned U.S. subsidiary InsuraGuest Risk Purchasing Group, LLC®, announces today it has signed a contract with Pacific Group Resorts, Inc. (“PGRI”) to automatically provide event participant insurance for skiers, snowboarders, and other outdoor winter resort activities when tickets for those activities are purchased online in advance.
Through InsuraGuest’s technology platform a $10,000 insurance coverage will automatically be attached to all winter lift tickets sold online at PGRI’s Wintergreen Resort and Wisp Resort in the United States and Mount Washington Alpine Resort in British Columbia. In addition to such coverage, ticket holders may elect to upgrade to additional coverage of $25,000. Similar coverages will be applicable to tickets purchased online for other winter resort activities such as snow tubing.
Reed Wright, President of InsuraGuest Technologies, stated, “There were approximately 80 million skier visits (including snowboarding) in the U.S. and Canada last year, with PGRI accounting for 1.2 million of those. To serve this market, InsuraGuest is launching its ISG Sports division and expanding its insurtech technology platform to capture those potential revenue opportunities.” Wright also noted InsuraGuest Technologies and PGRI have some commonalities in shareholders and directors and that relationship afforded InsuraGuest the opportunity to develop a program of this complex nature and to work through the intricacies of setting up the process so it could be offered seamlessly to other resorts in the future.
InsuraGuest Technologies (TSX.V: ISGI) is an insurtech (insurance + technology) company that is disrupting the insurance landscape by utilizing its proprietary software platform to automatically attach its short-term insurance products to vacation rental and hotel reservations, and now winter sporting events.
CA / LIC: 6001686
For more information, visit the company’s website at: www.InsuraGuest.com
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, 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, this 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.
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InsuraGuest Technologies, Inc.