- InsurTechs Are Transforming the Insurance Industry with Digital Technologies
- Just 3% of Insurtechs are Insurance Carriers
- InsuraGuest Offers Digitized Insurance Policies for Hospitality & Business Risks
- Business Owner Policy (“BOP”) Covers Risks for 130+ Class Codes, including Retail, Wholesale, Mercantile, Office and Business Services
- Small business owners make up 99% of U.S. Businesses
The U.S. insurance industry isn’t much different now than when Benjamin Franklin’s Philadelphia Contributionship first opened its doors to the public in 1752. But that is changing as a new breed of insurers arises. Insurtechs are claiming bits of the life and health insurance terrain – and much more – according to Bain & Company, a development the private equity firm has described as “Insurtechs on the Rise.” One such is InsuraGuest Technologies (TSX.V: ISGI), which is offering coverage for hospitality and business risks. The company plans to expand its product line as demand for Insurtech policies increases. Its unique capabilities as a master general agent (“MGU”) put it at a decided advantage in the brave new world of digitized insurance now emerging.
The application of new technologies to the old business of insurance has thrown up a wealth of opportunity. It’s possible now to be in the insurance business without being an insurer. The global survey of 655 companies undertaken by Bain, which excluded China where digitized insurance is far more advanced than in the West, discovered that just 3 percent of…
NOTE TO INVESTORS: The latest news and updates relating to ISGI are available in the company’s newsroom at http://nnw.fm/ISGI
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