InsuraGuest Technologies (TSXV: ISGI) is entering a new product vertical. The company has expanded its insurance offerings to now include offerings for skiers and other outdoor winter activities, which was created for a new contract entered by the firm.
The new offering has seen the company enter into a partnership with Pacific Group Resorts, whom operates five ski resorts in North America. The partnership will see the company automatically provide insurance for skiers, snowboarders, and other winter activities when tickets are purchased online in advance.
The coverage to be provided consists of $10,000 in coverage to winter lift tickets that are sold online, with consumers having the option to upgrade the coverage to $25,000 at time of checkout. The initial arrangement will cover the firms Wintergreen Resort and Wisp Resort in the US, along with its Mount Washington Alpine Resort in BC.
“There were approximately 80 million skier visits (including snowboarding) in the U.S. and Canada last year, with PGRI accounting for 1.2 million of those. To serve this market, InsuraGuest is launching its ISG Sports division and expanding its insurtech technology platform to capture those potential revenue opportunities,” commented Reed Wright, President of InsuraGuest, on the development.
Similar offerings are expected to be offered to other resorts going forward.
InsuraGuest Technologies last traded at $0.20 on the TSX Venture.
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