InsuraGuest Technologies (TSXV: ISGI) this morning announced the launch of its strategic alliance with SuiteLife Underwriting Managers. The arrangement will see insured organizations become a preferred customer of InsuraGuest.
SuiteLife Underwriting Managers is a division of the Ryan Specialty Group, which provides specialty insurance to hotel management companies, resorts, and hotels. The firm customizes coverage for each client it works with, providing risk management, comprehensive coverage and competitive premiums via independent agents and brokers.
SuiteLife reportedly works with over 700 hotel properties across its network, with a focus on upscale vacation rental providers. The alliance is expected to provide the company both with additional credibility within the hotel sector, as well as a number of potential new clients to which the firm can provide its insurance products to as it continues to scale its operation.
“An average hotel has 150 rooms, with an average occupancy of 60%. Our alliance with SUITELIFE gives us direct access to 700 plus hotel and resort customers in SUITELIFE’s portfolio, which equates to over 100k rooms, or over 22 million nights stayed per year,” commented Charles Cayias of InsuraGuest on the development.
InsuraGuest Technologies last traded at $0.20 on the TSX Venture.
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