RELI Exchange Agents and Customers are Now Able to Quickly Access Real-Time Life Insurance Quotes, with Minimal Data Input
RELI Exchange Grows to Over 150 Agency Partners
LAKEWOOD, NJ, Feb. 01, 2023 — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) with the personalized experience of a traditional insurance agency, today announced that it has added a real-time, life insurance quotation tool to both its RELI Exchange and 5Minuteinsure.com platforms. The tool displays life insurance quotes from more than 15 life insurance companies, and builds upon the Company’s successful home and auto insurance offerings.
Moshe Fishman, Director of Insurtech at Reliance Global Group remarked, “The addition of the life insurance quotation tool to both our 5MinuteInsure.com (B2C platform), and RELI Exchange (B2B platform), further enhances the value proposition of each of the platforms. The life insurance capabilities will provide our RELI Exchange agency partners with the technology necessary to immediately compare life insurance policies in less than a minute, adding an important new tool to their agent toolbox. Moreover, it provides consumers with full transparency of what is available to them and the price they should expect to pay. We are committed to our mission of helping clients gain the appropriate level of insurance in order to protect what is most important of them, while ensuring they are getting the best value for their money.”
Ezra Beyman, CEO of Reliance Global Group, commented, “We are pleased to announce the addition of the life insurance quotation tool to our InsurTech platforms. This is yet another example of how we are continually enhancing our agency partners’ experiences by adding more features, products and overall value to our InsurTech platforms. Quick and accurate quotes are of the utmost importance to our agency partners, making it easier for them to sell more policies and grow their businesses. Feedback on the RELI Exchange platform continues to be extremely positive, as our agency partners continue to realize the benefits and enhanced productivity provided by our offering. Agency Partners welcome our technology, which enables them to minimize much of the distracting back-office burden an insurance agency typically has, empowering them with more time to serve the needs of their clients and build their businesses. The RELI Exchange platform continues to grow, and now consists of more than 150 agency partners. We look forward to onboarding additional carriers and adding exciting new features to our InsurTech platforms, which we believe will further enhance its value to our agency partners. The rapid organic expansion of RELI Exchange is further illustration of the value we are delivering to our agency partners.”
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) an InsurTech pioneer, is working to transform the traditional insurance agency model by combining artificial intelligence (AI) with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes the organic expansion of 5MinuteInsure.com, it’s online business-to-consumer platform that utilizes artificial intelligence and data mining, to provide competitive insurance quotes within 5 minutes, and RELI Exchange, it’s B2B InsurTech platform and agency partner network for insurance agents and agencies, designed to give independent agents an entire suite of business development tools and the ability to effectively compete with national agencies. Additional information about the Company is available at https://www.relianceglobalgroup.com/.
This press release may contain forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. In some cases, forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “projects,” “forecasts,” “proposes,” and similar expressions. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the SEC and elsewhere and risk as and uncertainties related to: the Company’s ability to provide agents on the RELI Exchange network with a potential new revenue stream accretive to the profitability of their existing businesses, the ability of the RELI Exchange to attract new agency partners and provide them with the tools to make their businesses operate more efficiently and become more profitable, the Company’s ability to move independent agents to the RELI Exchange platform, the Company’s ability to add new products and services in the future, accelerate the growth of the platform and build RELI Exchange into the largest agency partner network in the country, the Company’s ability to generate the revenue as anticipated the Company’s ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.
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