VANCOUVER, British Columbia, Aug. 19, 2020 (GLOBE NEWSWIRE) — via NetworkWire — InsuraGuest Technologies, Inc. (TSX.V: ISGI) (the “Company”), under its wholly owned U.S. subsidiary InsuraGuest Insurance Agency, LLC (the “Agency”), has signed Swarts, Manning & Associates (“SMA”) for its agency/broker program, which focuses on agencies and brokers that write general liability polices specifically for hotels.
InsuraGuest will utilize SMA’s brokers and business network in Utah, Nevada and California to access SMA’s hotel clients and integrate InsuraGuest’s insurtech software platform to deliver its hospitality liability coverages.
“Our focus has always been on risk management and improving the risk profile of our hospitality clients,” states Mark Swarts, founder and president of Swarts, Manning & Associates. “Adding InsuraGuest’s products to our partner list will help us reduce their hotel clients’ risk ratios and claim ratios while potentially lowering their GL premiums.”
InsuraGuest insurance coverage, which is purchased by a property, automatically delivers hospitality liability coverages through the property’s management system via the Company’s proprietary insurtech (insurance + technology) platform. These coverages address claims from guests and their room occupants during their stay at a hotel; coverages insert a layer of protection on a primary basis should a guest experience an accident or theft.
InsuraGuest hospitality liability coverages become the property’s first line of defense, which will help lower the property’s claim ratio and risk profile. By lowering the property’s claim ratio or risk profile, InsuraGuest may stabilize or lower the property’s current general liability premiums.
InsuraGuest’s insurtech platform is currently capable of integrating with approximately 70 different hotel and property management systems, giving it access to millions of rooms worldwide.
InsuraGuest Insurance Agency administers the InsuraGuest hospitality liability coverages for hotels and is licensed in all 50 states, including the District of Columbia.
InsuraGuest’s hospitality liability coverages are underwritten through an insurance company that is rated “A” (Superior) by A.M. Best Insurance Company.
About Swarts, Manning & Associates
Founded in 1996, Swarts, Manning & Associates has quickly established itself as a leader in the insurance industry. As a full-service agency, Swarts, Manning & Associates is dedicated to providing the most comprehensive, customized and cost-effective insurance solutions available.
With specialized departments dedicated to commercial insurance, personal insurance, health benefits and bonds, Swarts, Manning & Associates enables its clients to partner with an industry expert for assistance with risk management needs. The company’s dedication to customer service and its knowledgeable, friendly staff are just a few of the reasons why Swarts, Manning & Associates stands as a leader and innovator within the insurance industry.
For more information, visit the company’s website at https://www.swartsmanning.com/.
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 deliver digital insurance to multiple sectors. The Company is transforming the way insurance is delivered with the revolutionary idea that insurance should be bought, not sold.
CA / LIC: 6001686
For more information, visit the Company’s website at https://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 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.
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