InsuraGuest Technologies (TSXV: ISGI) this morning had a major announcement related to its recently developed travel insurance product. The firm has entered a contract with Centred, an online travel and wellness platform.
Centred is a vertically integrated platform that looks to connect travels to wellness brands across 1,000 cities globally. The company, through its numerous partnerships, reportedly has access to over 57 million members around the globe. The firm works with business to business partners in travel, fitness, healthcare and beauty tech.
Once integrated via InsuraGuest’s API, US consumers will be able to purchase travel insurance from InsuraGuest on the Centred platform, Centred-Wellness.com. Insurance however will cover a clients entire trip, rather than just the time spent at their hotel or vacation rental.
The arrangement itself is classified as a “technology and distribution arrangement,” which will see Centred be paid marketing fees for connecting InsuraGuest to its clients. The arrangement also has room for expansion, with planned expansions into Centred’s partnerships with Amex, Dragon Pass and Mastercard.
“This collaboration with Centred will be another way to boost customer confidence and offer guests peace of mind as they return to travel. Both parties believe increasing consumer confidence will assist in enhancing bookings and associated revenue over time,” commented President Reed Wright on the announcement.
InsuraGuest Technologies last traded at $0.305 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.
