InsuraGuest Increases Revenue 253 – GuruFocus.com
VANCOUVER, BC /ACCESSWIRE/October 24, 2022/ InsuraGuest Technologies, Inc.® (TSXV:ISGI, Financial)(OTCQB:ISGIF) (“InsuraGuest” or the “Company”), announces its company’s year-end figures for the fiscal year ended June 30, 2022 and business outlook for 2022-23.
InsuraGuest Technologies Inc. is a Canadian publicly traded insurtech (insurance + technology) (“ISGI”) software company with offices in Vancouver, British Columbia and Salt Lake City, Utah. Our proprietary software platform delivers digitally integrated, opt-in, and subscription-based insurance packages directly to our members on a business-to-business, business-to-business basis. The company also offers insurance agents and brokers the ability to register instantly online through its automated agency/broker software platform. These brokers and agents then become channels to sell the Company’s products to their own customers, thus accelerating the process of distributing the products through the insurtech platform.
During the year ended June 30, 2022, the Company continued to build on the 2019 launch of its proprietary software products while doubling the number of vacation rental properties as customers compared to the first quarter of 2022 Across all revenue segments, InsuraGuest grew 253% over last year and continues to grow at a rapid pace.
Our new attendee events product has contributed significantly to this growth, and we believe there is tremendous opportunity to further grow this segment of the business. We also launched our subscription product in June, which should bring further growth next year. We have not added any new hotels to our client list, but recently we have seen business grow in this sector and we are now having qualified conversations with hotel groups and have begun to engage with brokers. hotel insurance and their customers. By now focusing on the sales and marketing of these products, we expect to continue this growth through 2023 and beyond.
“We have proven our technology stack by launching new products as well as adding and expanding a significant number of properties over the past year. Our technology stack and insurtech products continue to be recognized as a leader in the industry. industry in the vacation rental, hotel and participating event industries. This path will allow our customer base to grow and generate additional revenue for a long time to come. As a result, we are now increasing marketing and sales spend to continue to expand our successful model,” says Reed Wright InsuraGuest, President of InsuraGuest.
About AssuraGuest Technologies Inc.
Harnessing the power of technology to reinvent insurance
InsuraGuest Technologies (TSX.V:ISGI) (OTCQB:ISGIF) is an insurtech (insurance + technology) company that is disrupting the insurance landscape by using its proprietary software platform to integrate its rental insurance products short-term to vacation rentals, paid sports and events, hotels and resorts.
For more information, visit the company’s website at: www.InsuraGuest.com
The information in this press release contains forward-looking statements based on assumptions as of the date of this press release. These statements reflect management’s current estimates, beliefs, intentions and expectations. There can be no assurance that this new commercial product offering or other planned products will be successful. The insurance industry is extremely competitive and the Company’s competitors have far more resources than the Company. Acceptance by potential customers is difficult to predict, especially with new products and disruptive technologies. If the Company is not accepted by the market, this will have a significant impact on its results and its financial resources. 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 can be no assurance that such financing will be available at reasonable prices or at all.
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InsuraGuest Technologies, Inc.
THE SOURCE: InsuraGuest Technologies
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