Xigem Technologies to Enhance Cloud-based Technology Platform for Insurance Supermarket Inc.
March 23, 2021
iAgent Supports ISI’s Insurtech Initiatives
TORONTO, March 23, 2021 – Xigem Technologies Corporation (CSE:XIGM) (FSE:2C1) (“Xigem” or the “Company”), a technology provider for the emerging remote economy, today announced that it has signed a letter of intent (“LOI”) to enhance its iAgent cloud-based software platform for Insurance Supermarket Inc. (“ISI”). Xigem will work with ISI to further position its insurance technology (“Insurtech”) initiatives in the fast-evolving North American insurance market.
Estimates show that the nearly US$3 billion global insurtech market size is expected to expand at a compound annual growth rate (CAGR) of approximately 48.8% from 2021 to 2028. The increasing need to digitize and simplify the vast array of insurance services accounts for much of the acceleration in the market.1
“Like most financial sectors, the insurance market is clearly undergoing a shift to service the rapidly emerging digital remote economy,” said Brian Kalish, co-founder and CEO of Xigem Technologies. “ISI has been a leader in simplifying the process of delivering an assortment of insurance products and has been on the forefront of the insurtech revolution with its original development of iAgent. We look forward to working with the ISI team to further enhance iAgent to be a considerable part of their digital strategy.”
Originally developed by ISI and now exclusively licensed to Xigem, iAgent is a U.S. patented and Canadian patent pending cloud-based technology that will provide organizations with the infrastructure necessary to manage employees, assets and operations remotely. iAgent can be tailored for businesses to enable them to remotely track and manage assets, transactions, fulfilment and service cycles while seamlessly integrating with most CRM and ERP systems to profitably optimize the consumer, treatment seeker and learning experience.
“Our strategy is based on leapfrogging traditional insurance companies with innovative product offerings and delivery models that directly respond to the needs of today’s consumers,” said Charles Nastaskin, Chief Technology Innovation Officer, Insurance Supermarket Inc. “New technologies like the enhanced iAgent platform are key to executing on this vision.”
Pursuant to the LOI, once the custom development work is successfully completed, Xigem will license the iAgent platform to ISI on a Software-as-a-Service (“SaaS”) basis for a recurring monthly licensing fee.
Insurance Supermarket Inc. is a life insurance provider specializing in providing simple and effective life insurance options to Americans from all walks of life. With plans that are designed to be easy, fast and affordable, ISI is opening up more convenient ways that Americans can find coverage.
1 Source: Grand View Research, January 2021
About Xigem Technologies Corporation
Established in Toronto, Ontario, Xigem Technologies Corporation (CSE:XIGM) (FSE:2C1) is positioned to become a leading SaaS technology platform for the emerging remote economy, with software capable of improving the capacity, productivity, and overall remote operations for businesses, consumers and other organizations. “iAgent,” the Company’s patented technology, will provide organizations, businesses and consumers with the tools necessary to thrive in a vast array of remote working, learning and treatment environments.
iAgent is a mobile, geo-targeted customer acquisition and retention application. iAgent will match sales and services with consumers, treatment seekers and students in real time. For businesses and institutions, iAgent can be tailored to remotely track and manage assets, transactions, fulfilment and service cycles while integrating with most CRM and ERP systems. For consumers, treatment seekers and students, iAgent remotely enables fulfilment and engagement with the everyday goods and services they demand.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release may contain certain “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Xigem undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Xigem, its securities, or financial or operating results (as applicable). Although Xigem believes that the expectations reflected in forward-looking statements in this news release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Xigem’s control. The forward-looking information contained in this news release is expressly qualified by this cautionary statement and is made as of the date hereof. Xigem disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Xigem Technologies Corporation
On behalf of the Company:
Brian Kalish, Chief Executive Officer