Business
SIA Group Aligns with Insuraguest to Help Lower Insurance Premiums and Tranfer Risks for Hotel Clients
InsuraGuest's Hospitality Liability and Insurtech Platform Enables Hotel Operators to Transfer Sm...
About this update from Insuraguest Technologies Inc
[{"type":"text","content":"\nSIA Group Aligns with Insuraguest to Help Lower Insurance Premiums and Tranfer Risks for Hotel ClientsInsuraGuest's Hospitality Liability and Insurtech Platform Enables Hotel Operators to Transfer Small Property and Medical Guest Claims to Lower Risk and Generate Additional RevenueVANCOUVER, BC / ACCESSWIRE / December 19, 2022 / SIA Group (SIA), one of the largest privately owned full-service insurance agencies in the United States, and InsuraGuest Technologies, Inc.®'s (TSX-V:ISGI)(OTCQB:ISGIF) (\"InsuraGuest\") announce they have created an alliance to provide InsuraGuest's Hospitality Liability coverage to SIA hotel clients.InsuraGuest coverages and platform transfers high frequency small property and medical guest claims to reduce risk, help decrease premiums, and generate revenue for hotel operators.A considerable amount of a hotel operator's claims is from small property or medical claims that are frequently applied to the general liability policy. This high frequency in claims drives up premium prices. The InsuraGuest solution transfers the risk from the hotel operator by having guests pay a nominal fee per night. The InsuraGuest program pays out these small claims and keeps them off the general liability policy for the hotel operator.\"Given the current state of the hospitality industry's ever increasing insurance premiums, it is nice to have a new and exciting solution provided by InsuraGuest, which will help us lower a hotel clients overall liability cost through claims avoidance. InsuraGuest also has no upfront set up fees. In fact, it generates a new marketing fee revenue while giving SIA the means to help reduce General Liability premiums by improving guest loss ratios,\" said Ed Smith, Executive Vice President for SIA Group. \"By minimizing the frequency of a hotel's claims, we are able to have better underwriting conversations with the marketplace underwriters.\"\"We look forward to our new premier alliance with SIA Group. This alliance will help us to expand our product offering to SIA's 500 plus hospitality customers, while helping those hoteliers create new revenue and control their future premium costs\" said InsuraGuest President Reed Wright.InsuraGuest is an insurtech company that utilizes a proprietary software platform to deliver specialized Hospitality Liability coverages to member hotel properties...