VANCOUVER, British Columbia (August 19, 2021) — InsuraGuest Technologies, Inc.® (TSX-V: ISGI)(OTCQB: ISGIF) (“InsuraGuest” or the “Company”), through its wholly owned U.S. hospitality subsidiary InsuraGuest®, is pleased to announce it has signed a vendor agreement and has integrated it’s insurance platform API with OwnerRez, whose mission is to deliver fast and simple booking services that help their customers manage their vacation rentals.
InsuraGuest coverages can now be purchased by users of OwnerRez, including professional hosts and property management companies, all of which may elect to use the InsuraGuest coverages by filling out an InsuraGuest application within the OwnerRez marketplace. Once in use, the client will use InsuraGuest’s insurance coverages for primary no fault accidental medical and property claims made by guests.
“We are excited to introduce our clients to InsuraGuest’s unique insurance offering,” said Ken Taylor, OwnerRez’s Director of Operations, “Unlike the other insurance products on the market, InsuraGuest is insurance that protects the property from claims made by their guests on a primary no-fault basis and is available for a per-diem rather than per-booking charge.”
Jennifer Epperson, VP of New Business Development for InsuraGuest Vacation Rentals, stated, “It is a pleasure to work with a Vacation Rental leader like OwnerRez, and to provide their clients with the only primary no-fault accidental medical coverage policy on the market today.”
Property Management System Integration
InsuraGuest will integrate with OwnerRez property management software through its proprietary API, which will enable OwnerRez’s users to transfer certain liability exposures to the InsuraGuest carrier. By transferring certain liabilities to the InsuraGuest coverages, the covered short-term rental properties can lower their claim ratios and risk profiles, which may decrease their umbrella liability policy and/or their homeowners’ policy premiums.
Short-Term Rental Operators
The short-term rental entity automatically attaches the InsuraGuest coverage to each reservation, which activates the coverage at check-in and de-activates it upon check-out. The complete fee for coverage and software is $11.95 per night.
OwnerRez is a comprehensive booking management engine, built by people who have vacation rentals of their own. It integrates with channels like Vrbo, AirBnb, and Booking.com to seamlessly synchronize availability, rates, rules and listing content while taking online bookings, managing inquiries, and communicating with guests. OwnerRez provides modern fast websites, guest checkout with e-sign renter agreements and can process payments directly, including auto-scheduled future payments. All emails sent to the guest are templatable, and you can schedule your own emails to go out automatically. OwnerRez also provides travel insurance and damage protection insurance, as well as integration with QuickBooks, property management/owner statements, and other power features. Manage many properties, automate your communication, and get detailed statistics and reports without needing to hire a staff.
About InsuraGuest Technologies Inc.
Harnessing the Power of Technology to Reinvent Insurance
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 primary no-fault accidental medical and property damage short-term rental insurance products to vacation rental reservations.
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.
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.
InsuraGuest Technologies, Inc.