InsuraGuest Enters Strategic Alliance With Service Provider To 700 Hotels

InsuraGuest Technologies (TSXV: ISGI) had a major announcement this morning, revealing that it has entered a strategic alliance with another insurance provider. The firm has allied with Suitelife Underwriting Managers, whom provides insurance solutions and risk management programs to its clients.

A subsidiary of the Ryan Specialty Group, Suitelife provides specialty programs for hotels, resorts, and hotel management companies. The agency focuses on working with upscale vacation rental providers, including luxury boutique hotels, 4 and 5 star hotels, and condo hotels. The firm reportedly works with over 700 properties currently within its network.

The specialty programs provided include strategic loss prevention relationships, access to top-rated insurance companies, and specialty claims administrators, which each solution customized for the individual client. Under the strategic alliance, these programs will begin to include the option of becoming a preferred customer of InsuraGuest, thereby significantly increasing the potential customer base of the firm.

“We are expanding our platform and creating new relationships.  Our alliance with SUITELIFE not only give us the credibility we need in the hotel sector, but it also gives us access to the 700 plus hotel customers in SUITELIFE’s portfolio,” said Charles Cayias, whom is President of InsuraGuest Insurance Agency.

The integration of InsuraGuest is expected to be live in October.

InsuraGuest Technologies last traded at $0.37 on the TSX Venture.

FULL DISCLOSURE: InsuraGuest Technologies is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover InsuraGuest Technologies on The Deep Dive, with The Deep Dive having full editorial control. Additionally, the author personally holds shares of the company. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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