From its launch on Dec. 16th, 2021, to the end of March 2022, InsuraGuest’s digitally delivered event-based insurance product generated US$260,879 of gross premiums comprised of US$160,826 for embedded insurance coverage for participants who purchased their one-day ski tickets online and US$100,053 was added for participants who chose to upgrade their policy for additional coverage while purchasing their tickets online.
For the 2022-2023 ski season, ISG Active will be expanding and adding additional sales channels via pre-sold multiple-day ski tickets, season passes, and physical ski tickets purchased at the walk-up window.
ISG Active’s successful launch gives us an additional revenue source and provides us with the data we need to expand our technology platform and sales efforts. We anticipate selling our embedded insurance product into more online ticketed events, including ski resorts, golf courses, organized sports venues, amusement parks, and concert venues,” states Reed Wright President of InsuraGuest.
ISG Active will be attending the annual National Ski Areas Association (NSAA) in Nashville, TN, from May 11-15. Please stop by our booth (604) to learn more about how we can help protect your ski guests. www.NSAA.org
About InsuraGuest Technologies Inc.
Harnessing the Power of Technology to Reinvent Insurance
InsuraGuest Technologies (TSXV:ISGI) is an insurtech (insurance + technology) company that is disrupting the insurance landscape by utilizing its proprietary software platform to automatically attach its short-term insurance products to vacation rental and hotel reservations, and now sports activities.
CA / LIC: 6001686
For more information, visit the company’s website at: www.InsuraGuest.com
For more information on ISG Active, visit our website at: www.ISGActive.com
‘Readers are cautioned that sales alone do not provide a complete picture of the financial results and position of the company. For a complete financial picture of the company, readers should consult the Company’s annual and quarterly published financial statements. “
The iinformation set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. There is no assurance that this new business product offering or other planned products will be successful and the winter events coverage is seasonal. The insurance industry is intensely competitive, and the Company’s competitors have significantly more resources than the Company. Acceptance by potential customers is difficult to predict, particularly in the case of new products and disruptive technologies. If the Company fails to achieve market acceptance, this will significantly impact its results and financial resources. Achieving market acceptance may require advertising budgets that exceed the Company’s current resources and require the Company to seek additional debt or equity financing. There is no assurance that such financing will be available at reasonable prices or at all.
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