VANCOUVER, British Columbia, June 15, 2021 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square'' or the “company”) (CSE:VST) (OTC:VSQTF) (FWB:6F6) portfolio company, CloudAdvisors AI (''CloudAdvisors”) has transformed the long-established Employee Benefits industry by launching Canada's Employee Benefits Marketplace.
Based in Vancouver, British Columbia, CloudAdvisors is Canada's largest Insurtech marketplace for Employee Benefits, powered by artificial intelligence. CloudAdvisors was founded in 2015 and has enabled a fully digital experience for Employee Benefits.
The new-age platform created by CloudAdvisors provides revolutionary access to benchmarking data from over 10,000 employers, AI automated recommendations, and provides a Solution Marketplace which uniquely matches Employers with Benefits they can purchase. The enthusiasm surrounding the new marketplace is strong from the community and is gaining praise across Canada.
CloudAdvisors' co-founder Matt Lister began his journey as tech savvy advisor, and quickly realized that this industry had great potential to be changed for the better, a vision that he has now brought to life.
"Millions of Canadians rely on their employer and Advisor to annually navigate the complex world of insurance and enhance the benefits offered to employees and their families," commented Lister. "Advisors have been using traditional tactics for decades, relying on face-to-face communication with hard copy materials. This fragmented sales process has resulted in many employee benefit plans becoming dated and overpriced, while the best Advisors want to provide a significantly better service to its clients, while they have lacked the technology to deliver."
Insurance carriers, third party administrators, and health and wellness providers such as Empire Life can list their products and services in the Marketplace. CloudAdvisors has positioned itself as the digital distribution channel for Provider's solutions with Instant quotes for Advisors and Employers.
Advisors can license and customize CloudAdvisors to organize, analyze, automate and deliver their proprietary annual advisory model. The platform allows Advisors to directly generate and share reports, recommendations, and quotes to Employers through a secured portal.
Employers who are not currently engaged with a licensed Advisor partner can simply join the AI platform for free to evaluate their benefits, identify gaps, and then easily match with relevant solutions and generate concise quotes.
In collaboration with Advisors, the digital marketplace has launched with 65+ Providers and 500+ solutions to deliver valuable insights to thousands of employers. CloudAdvisors continues to grow, expand and improve the platform by adding benefit, financial and retirement plan benchmarking, while advancing their AI technology to find personalized recommendations.
Employee Benefits currently insure over 20 million Canadians who have either purchased benefits as an employer or received them as an employee for themselves and their families. CloudAdvisors has modernized the outdated Group Insurance industry and created Canada's digital Employee Benefits Marketplace.
The information in this release is based on a previous release by CloudAdvisors.
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On behalf of the board,
Shafin Diamond Tejani
Chief Executive Officer
For further information about the Company, please contact:
Investor Relations Contact – Edge Communications Group
Email: ir@victorysquare.com
Telephone: 604 283-9166
Media Relations Contact – Howard Blank, Director
Email: howard@victorysquare.com
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth.
VST's sweet spot is the cutting-edge tech that's shaping the 4th Industrial Revolution. Our portfolio consists of 20 global companies using AI, VR/AR and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.
What we do differently for startups
VST isn't just another investor. With real skin in the game, we're committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24-36 months, you'll scale and be ready to monetize.
What we do differently for investors
For investors, we offer early-stage access to the next unicorns before they're unicorns. Our portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, we're able to provide strong and stable returns while also tapping into emerging global trends with big upsides.
VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSQTF).
For more information, please visit www.victorysquare.com.
ABOUT THE CANADIAN SECURITIES EXCHANGE (CSE)
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The Canadian Securities Exchange, nor its Regulation Services Provider has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square and its related subsidiaries and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.