InsuraGuest Signs Stand Out Hotels and Residence

Rhea-AI Summary

InsuraGuest Technologies, Inc. (TSX-V:ISGI)(OTCQB:ISGIF) announced a partnership with Stand Out Hotels and Residences to provide hospitality liability products globally. Guests will automatically receive a $10,000 accidental medical liability policy for an additional fee of $3.00 per night. This policy covers medical accidents on Stand Out properties, ensuring guest safety and confidence. Reed Wright, InsuraGuest's President, emphasized the potential for increased customer trust with this offering. This collaboration involves over 3,000 hotel rooms.

Positive

• New partnership with Stand Out Hotels and Residences enhances InsuraGuest's market reach.
• Accidental medical liability policy adds value to guest experience, potentially attracting more customers.
• Collaboration covers over 3,000 hotel rooms, expanding InsuraGuest's footprint in the hospitality industry.

Negative

• The insurance industry is intensely competitive, making market acceptance challenging.
• Dependence on additional financing for marketing may strain financial resources.

VANCOUVER, BC / ACCESSWIRE / January 26, 2022 / InsuraGuest Technologies, Inc.® (TSX-V:ISGI)(OTCQB:ISGIF) ("InsuraGuest" or the "Company"), announces it has signed Stand Out Hotels and Residences (Stand Out) to provide its hospitality liability products to their guests worldwide.

InsuraGuest's $10k accidental medical liability policy will automatically be added to each reservation for a small fee of $3.00US a night at any Stand-out Hotels and Residences worldwide. The policy covers accidental medical liability on a primary no-fault basis. Which means, it will protect Stand Out and its guests from any medical accidents that may occur on the premise of Stand Out's properties, within the policy limits.

"Stand Out Hotels and Residences always put our guest's needs first, and we will do whatever we can to help them feel comfortable and safe while staying at one of our properties, states Luis Cocco, CEO of Stand Out Hotels and Residences.

Reed Wright, President of InsuraGuest Technologies, stated, "This collaboration with Stand Out and their 3000 rooms will be a way to boost customer confidence and offer guests peace of mind when choosing one of Stand Out's properties to stay at for their vacation".

About Stand Out Hotels and Residences

Stand Out Hotels and Residences offers hotels and resorts infrastructure and know-how that allows them to outperform their local competitors, including properties belonging to global hotel chains. In today's highly dynamic and rapidly evolving marketplace it is vital for independent hotels to have the right tools and support to become market leaders.

Through proven best practices and creative strategies, its team of experts increases REVPAR and GOPPAR for its hotels.

Its singular focus is to be the smartest and most productive soft brand solution for Caribbean tourism destination hotels and lifestyle travel properties. Trusted by guests and industry professionals, every hotel in any of its collections must achieve and maintain 100 points of quality.

_{Stand Out Hotels and Residences is very owner-friendly, because that's its lifeblood.}

About InsuraGuest Technologies Inc.

Harnessing the Power of Technology to Reinvent Insurance

InsuraGuest Technologies (TSX.V: ISGI) is an insurtech (insurance + technology) company that is disrupting the insurance landscape by utilizing its proprietary software platform to digitally provide insurance products to short term vacation rentals. CA / LIC: 6001686

For more information, visit the company's website at: www.InsuraGuest.com

Information 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. 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.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Company Contact:

Stand Out Hotels and Residences
Luis Cocco
Founder and CEO
lcocco@standouthospitality.net
+1 226 280 2919

InsuraGuest Technologies, Inc.
Media Relations
Adam Handelsman
media@InsuraGuest.com
+1 512 363 0594

SOURCE: InsuraGuest Technologies, Inc.

View source version on accesswire.com:
https://www.accesswire.com/685228/InsuraGuest-Signs-Stand-Out-Hotels-and-Residence

FAQ

What is InsuraGuest Technologies' recent announcement regarding Stand Out Hotels and Residences?

InsuraGuest announced a partnership with Stand Out Hotels to offer a $10,000 accidental medical liability policy for guests at a cost of $3.00 per night.

How does the accidental medical liability policy benefit Stand Out Hotels' guests?

The policy covers medical accidents on the premises, ensuring safety and peace of mind for guests.

What does the partnership between InsuraGuest and Stand Out Hotels involve?

The partnership involves providing liability products to over 3,000 hotel rooms globally.

What are the potential risks mentioned in the InsuraGuest press release?

The press release highlights competitive challenges in the insurance industry and reliance on additional financing for successful marketing.