VANCOUVER, Britis, June 11, 2020 (GLOBE NEWSWIRE) -- via NetworkWire – InsuraGuest Technologies, Inc.® (TSX-V: ISGI) (OTC: IGSTF) (the “Company” or “InsuraGuest”), through its wholly owned U.S. subsidiary Insure The People, LLC (“ITP”), is pleased to announce it is diversifying its product offering and has begun development of its new Business Owner Policy (“BOP”) insurtech (insurance + technology) portal, www.InsureThePeople.com, and is expected to fully launch this new product offering to the U.S. markets by third quarter of 2020.
ITP will be powered by InsuraGuest’s insurtech platform, which will digitally deliver BOP policies to 130+ class codes, including retail, wholesale, mercantile, office and business service classes. The BOP products will be available in all 50 states as well as the District of Columbia, where InsuraGuest Insurance Agency is licensed to sell insurance, and will be 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 will begin its BOP offering by including:
- 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.
Once launched, ITP expects to add coverages like Blanket Additional Insured, employee benefits liability, hired and non-owned auto, liquor liability, miscellaneous professional liability, scheduled property floater, cyber risk, workers’ comp, errors and omissions, and directors’ and officers’ coverages.
“We are 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 multiple sectors,” states Douglas Anderson, chairman and CEO of InsuraGuest. “Additionally, by advancing our product offerings, we are creating multiple avenues of revenue, which will result in greater shareholder value.”
InsuraGuest Insurance Agency will administer InsureThePeople.com policies in all 50 states and the District of Columbia.
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
Forward-Looking Statements
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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