Coverage now spans 6 states with more states to follow
LAKEWOOD, NJ, Nov. 16, 2021 — via NewMediaWire —Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that it has successfully launched 5MinuteInsure.com in Virginia.
Ezra Beyman, CEO of Reliance Global Group, commented, “We are very pleased to extend our 5MinuteInsure.com offerings to the people of Virginia following yesterday’s launch in Tennessee. We’ve been moving very quickly with the national rollout, which will coincide with multiple strategic marketing tracks for short-term as well long-term client acquisition with a minimum acquisition cost per client. When consumers shop for insurance, the first thing they should think of is 5MinuteInsure.com.”
5MinuteInsure.com is a platform developed by Reliance Global that provides an easy and efficient way to shop and buy insurance. Using artificial intelligence and data mining, 5MinuteInsure.com provides consumers with competitive insurance quotes in under 2 minutes, with the ability to bind coverage within 5 minutes. Consumers can compare live quotes for auto insurance between multiple carriers as well as instantly purchase coverage on the same single platform. A video overview of the platform is available here.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including 5MinuteInsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies. Additional information about the Company is available at https://www.relianceglobalgroup.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the 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. 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 Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Follows successful launch in MI, AZ, IN & OH; accelerating rollout to additional states in the near term
LAKEWOOD, NJ, Nov. 15, 2021 — via NewMediaWire —Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that it has successfully launched 5MinuteInsure.com in Tennessee.
Ezra Beyman, CEO of Reliance Global Group, commented, “Our launch of 5MinuteInsure.com in Tennessee follows our recent successful launches in four other states. Having built a powerful foundation for the comparison and purchasing platform with smart technology, 5MinuteInsure.com is able to add more states with minimal setup time. Most importantly, given the policy savings we’ve already witnessed, we look forward to providing the people of Tennessee a better option for their insurance needs.”
5MinuteInsure.com is a platform developed by Reliance Global that provides an easy and efficient way to shop and buy insurance. Using artificial intelligence and data mining, 5MinuteInsure.com provides consumers with competitive insurance quotes in under 2 minutes, with the ability to bind coverage within 5 minutes. Consumers can compare live quotes for auto insurance between multiple carriers as well as instantly purchase coverage on the same single platform. A video overview of the platform is available online.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including 5MinuteInsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies. Additional information about the Company is available at https://www.relianceglobalgroup.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the 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. 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 Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Rapidly adding new states to nationwide rollout of 5MinuteInsure.com platform
LAKEWOOD, N.J., Nov. 10, 2021 — via NewMediaWire — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today provided a business update and reported financial results for the third quarter ended September 30, 2021.
Ezra Beyman, CEO of Reliance Global Group, commented, “We continue to generate strong growth, as evidenced by a 54% increase in revenue to $2.6 million for the third quarter of 2021 versus $1.7 million for the same period last year, reflecting the solid performance of our insurance agencies. Given the performance of our agencies, I’m pleased to report we reduced our consolidated EBITDA* loss by 88% to approximately $87,000 for the third quarter of 2021, versus $747,000 for the same period last year, despite our ongoing investments in the 5MinuteInsure.com platform. The improved profitability reflects our continued revenue growth and scalability of the business model. On a standalone basis, these agencies collectively generated significant cash flow from operations for both the three and nine months ended September 30, 2021. At the same time, we continue to explore opportunistic acquisitions of additional cash flow positive agencies at attractive multiples, to further expand our national footprint and enhance operating efficiency. We ended the quarter with over $6.1 million of cash and restricted cash, which provides us a solid balance sheet to execute on our near and long-term growth objectives.”
“We are also making progress with the nationwide rollout of our new 5MinuteInsure.com platform, as evidenced by its successful launch in the first four states: Ohio, Indiana, Michigan and Arizona. The goal of this platform is to tap into the growing number of online shoppers by providing them a seamless one-stop solution to compare insurance quotes from multiple carriers and instantly bind a policy. We’ve rolled out a robust and comprehensive marketing campaign in the aforementioned states and have witnessed a noticeable increase in daily quote requests. Further, we’re on track to commercially launch the platform in a number of additional states in the coming weeks, as we now have regulatory approval in 46 states and continue to add new insurance carriers to our network.”
Financial Results
For the three months ended September 30, 2021 as compared to September 30, 2020, respectively, the Company achieved revenues of $2,581,636 vs. $1,680,043, commission expense of $660,708 vs. $399,322 and general and administrative expenses of $755,130 vs. $1,116,907. Loss from operations for the same periods respectively was $475,208 vs. $1,092,170 and net loss was $595,233, or ($0.05) per share, vs. $1,231,567, or ($0.30).
For the nine months ended September 30, 2021 as compared to September 30, 2020, respectively, the Company had revenues of $7,096,213 vs. $5,326,375, commission expense of $1,748,451 vs. $1,178,806 and general and administrative expenses of $2,961,881 vs. $3,320,779. Loss from operations for the same periods respectively was $2,064,853 vs. $2,925,131 and net loss was $2,486,045, or ($0.25) per share vs. to $3,349,778, or ($0.80).
*EBITDA Reconciliation
The Company defines EBITDA as earnings before interest, taxes, depreciation and amortization. EBITDA is not a measure of performance calculated in accordance with Generally Accepted Accounting Principles in the United States of America (GAAP), and should not be considered in isolation of, or as a substitute for, earnings as an indicator of operating performance or cash flows from operating activities as a measure of liquidity. The Company believes the presentation of EBITDA is relevant and useful by enhancing the readers’ ability to understand the Company’s operating performance. The Company’s management utilizes EBITDA as a means to measure performance. The Company’s measurements of EBITDA may not be comparable to similar titled measures reported by other companies. The table below reconciles EBITDA for income from continuing operations for the three and nine months ended September 30, 2021 and 2020.
(Unaudited)
(Unaudited)
Three months ended September 30,
Nine months ended September 30,
2021
2020
2021
2020
Loss from operations
$ (475,208)
$ (1,092,170)
$ (2,064,853)
$ (2,925,131)
Adjustments:
Depreciation and amortization
387,729
344,888
1,090,183
1,003,070
EBIDTA
$ (87,479)
$ (747,282)
$ (974,670)
$ (1,922,061)
The complete financial results will be available in the Company’s Form 10-Q, which is expected to be filed with the U.S. Securities & Exchange Commission later today.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including through 5minuteinsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies. Additional information about the Company is available at https://www.relianceglobalgroup.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the 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. 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 Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Coverage now spans four states with plans to add additional states near term
LAKEWOOD, N.J., Nov. 03, 2021 — via NewMediaWire — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that it has successfully launched 5MinuteInsure.com in Michigan and Arizona.
Ezra Beyman, CEO of Reliance Global Group, commented, “We are excited to now offer coverage through 5MinuteInsure.com in Michigan and Arizona following a successful launch of 5MinuteInsure.com in Ohio and Indiana within just the past two months. In the short time since our initial commercial launch, we are pleased to already offer coverage in four states with a combined population of over 35 million. We are pacing well ahead of schedule with more states to come. Moreover, the response from customers has been quite positive given the fact they can compare multiple carriers with minimal data input, and receive competing quotes within minutes. At the same time, we are stepping up our digital marketing activities, which we believe will provide a meaningful return on capital given the scalability of our platform and recurring revenue associated with these policies. I could not be more excited about the growth and market potential for 5MinuteInsure.com.”
5MinuteInsure.com is a platform developed by Reliance Global that provides an easy and efficient way to shop and buy insurance. Using artificial intelligence and data mining, 5MinuteInsure.com provides consumers with competitive insurance quotes in under 2 minutes, with the ability to bind coverage within 5 minutes. Consumers can compare live quotes for auto insurance between multiple carriers as well as instantly purchase coverage on the same single platform. A video overview of the platform is available here.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including through 5MinuteInsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies. Additional information about the Company is available at https://www.relianceglobalgroup.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the 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. 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 Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
LAKEWOOD, N.J., Oct. 19, 2021 — via NewMediaWire — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that Ezra Beyman, Chairman and CEO of Reliance Global Group, will present at the Dawson James Securities Small Cap Growth Conference being held on October 21, 2021 at the Wyndham Grand Hotel in Jupiter, Florida.
Mr. Beyman will present on Thursday, October 21 at 2:00 pm Eastern Time and will also be participating in one-on-one meetings with qualified investors throughout the conference to build open-market awareness in the Company.
The live webcast and subsequent archived recordings for the presentation can be accessed here and on the investor relations section of Reliance Global Group’s website at https://relianceglobalgroup.com/investor-relations/.
About Dawson James Securities
Dawson James Securities, Inc., a member of FINRA/SIPC, is a full-service investment bank headquartered in Boca Raton, FL. http://www.dawsonjames.com.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including through 5MinuteInsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies. Additional information about the Company is available at https://www.relianceglobalgroup.com/.
Follows Successful Launch in Ohio; Accelerating Rollout to Additional States Near Term
LAKEWOOD, N.J., Oct. 18, 2021 — via NewMediaWire –Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that it has successfully launched 5MinuteInsure.com in Indiana.
Ezra Beyman, CEO of Reliance Global Group, commented, “Our launch of 5MinuteInsure.com in Indiana follows our successful launch in Ohio and is an exciting next step in our plans to roll out the platform nationwide. It’s our mission to offer our customers the best insurance rates in the market and we’re pleased to bring our offerings to Indiana. As a direct result of our marketing activities in Ohio we have witnessed an increase in daily quotes. As a result, given the scalable nature of our platform, we are accelerating our national rollout. Our continued expansion shows our commitment to executing on our business strategy to bring value to our shareholders and our customers.”
5MinuteInsure.com is a platform developed by Reliance Global that provides an easy and efficient way to shop and buy insurance. Using artificial intelligence and data mining, 5MinuteInsure.com provides consumers with competitive insurance quotes in under 2 minutes, with the ability to bind coverage within 5 minutes. Consumers can compare live quotes for auto insurance between multiple carriers as well as instantly purchase coverage on the same single platform. A video overview of the platform is available online.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including through 5MinuteInsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies. Additional information about the Company is available at https://www.relianceglobalgroup.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the 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. 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 Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Customers reported savings of up to 60% on insurance policies
LAKEWOOD, NJ, Sept. 13, 2021 — via NewMediaWire —Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that it has successfully launched 5MinuteInsure.com in Ohio, the first state in the Company’s planned nationwide rollout.
5MinuteInsure.com is a tool developed by Reliance Global that utilizes artificial intelligence and data mining to provide competitive insurance quotes in under 2 minutes, with the ability to bind coverage within 5 minutes, with minimal data input via a smartphone, tablet or computer. 5MinuteInsure.com combines the best of a traditional insurance agency, including the option for direct agent interaction, with the ability to bind a policy online. Through 5MinuteInsure.com, consumers can compare live quotes for auto insurance between multiple carriers, as well as instantly purchase coverage on the same single platform. This is a major differentiating factor from lead generator comparison sites that compare non-binding quotes and often sell personal information to third-party providers.
Ezra Beyman, CEO of Reliance Global Group, commented, “I am very pleased to announce the successful launch of 5MinuteInsure.com in Ohio. The goal of this platform is to tap into the growing number of online shoppers by providing them a seamless one-stop solution to compare quotes and instantly bind a policy. The feedback from customers has exceeded our expectations. As an example, one of our first clients was able to reduce their premium from approximately $2,000 to just $800 on a comparable policy with a new carrier, representing a 60% savings.
“Unlike other sectors, insurance has been one of the last to adopt technology and move online. Based on customer feedback, we believe 5minuteinsure.com is poised to rapidly establish a dominant position in the multi-billion dollar insurance market by taking advantage of the migration of insurance from offline to online. At the same time, we continue to add insurance carriers to our network and now offer insurance products from a total of 16 carriers and are approved in 46 states. We plan to roll out our 5MinuteInsure.com platform in additional states in the near future and look forward to providing further updates as we progress.”
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including through 5MinuteInsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies. Additional information about the Company is available at https://www.relianceglobalgroup.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the 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. 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 Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
LAKEWOOD, NJ, Sept. 10, 2021 — via NewMediaWire —Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), an insurtech company focused on combining advanced technologies with the personalized experience of a traditional insurance agency, today announced that Ezra Beyman, CEO of Reliance Global Group, will be presenting at the H.C. Wainwright 23rd Annual Global Investment Conference being held virtually between September 13-15, 2021.
Reliance Global Group’s presentation will be available on-demand to registered attendees via the conference platform beginning Monday, September 13, 2021 at 7:00 AM Eastern Time.
The webcast can be accessed here and on the investor relations section of Reliance Global Group’s website at https://relianceglobalgroup.com/investor-relations/. Management will also be participating in one-on-one meetings with qualified members of the investor community throughout the conference.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is an insurtech company combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including through 5minuteinsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies. Additional information about the Company is available at https://www.relianceglobalgroup.com/.
On track to commence commercial launch of 5MinuteInsure.com this summer;
increases insurance carriers on the platform to 16
LAKEWOOD, N.J., Aug. 17, 2021 — via NewMediaWire — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today provided a business update and reported financial results for the second quarter ended June 30, 2021.
Ezra Beyman, CEO of Reliance Global Group, commented, “I am pleased to report that our revenue for the second quarter of 2021 increased by approximately 33.4% to $2.2 million versus $1.6 million for the same period last year. Our solid year-over-year growth reflects the continued execution of our insurance agencies. These agencies continue to generate positive cash flow on a standalone basis and serve as further validation of our strategy to acquire regional agencies at attractive multiples in order to rapidly expand our national footprint as well as the scope of our offering. Each of these agencies provide a long term, highly predictable and profitable revenue stream based on the expected life of the insurance policies. We ended the quarter with over $6.8 million of cash and restricted cash, which provides us a solid balance sheet to execute on our growth objectives, both organic and through acquisitions.”
“The growth in our ‘bricks-and-mortar’ agency business provides us a solid foundation upon which we are now rolling out our new 5MinuteInsure.com platform and we remain on track to commercially launch this summer. We also added new insurance carriers to our 5MinuteInsure.com platform and now offer insurance products from a total of 16 carriers and are approved in 46 states. We believe 5MinuteInsure.com is truly poised to disrupt the insurance industry, by providing consumers an efficient means to compare and bind policies within minutes from the convenience of home or with the assistance of one of our registered agents. This is an exciting time for our company, and we look forward to providing further updates.”
Financial Results
The Company achieved revenues of $2,190,847 for the three months ended June 30, 2021, as compared to $1,642,018 for the three months ended June 30, 2020. The Company had total commission expense of $558,271 for the three months ended June 30, 2021 compared to $353,899 for the three months ended June 30, 2020. The Company had total general and administrative expenses of $1,202,350 for the three months ended June 30, 2021, as compared to $1,082,752 for the three months ended June 30, 2020. Loss from operations for the three months ending June 30, 2021 was $1,104,790, compared to $1,025,443 for the three months ended June 30, 2020. Net loss for the three months ended June 30, 2021 was $1,276,886, or ($0.12) per share, compared to $1,138,413, or ($0.27), the three months ended June 30, 2020.
The Company had revenues of $4,514,577 for the six months ended June 30, 2021, as compared to $3,646,332 for the six months ended June 30, 2020. The Company had total commission expense of $1,087,743 for the six months ended June 30, 2021 compared to $779,484 for the six months ended June 30, 2020. The Company had total general and administrative expenses of $2,206,751 for the six months ended June 30, 2021, as compared to $2,203,872 for the six months ended June 30, 2020. Loss from operations for the six months ended June 30, 2021 was $1,589,645, compared to $1,832,961 for the six months ended June 30, 2020. Net loss for the six months ended June 30, 2021 was $1,890,812, or ($0.20) per share, compared to $2,118,211, or ($0.51), the six months ended June 30, 2020.
The complete financial results will be available in the Company’s Form 10-Q, which is expected to be filed with the U.S. Securities & Exchange Commission later today.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including through 5minuteinsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies. Additional information about the Company is available at https://www.relianceglobalgroup.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the 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. 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 Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
On track for commercial launch of 5MinuteInsure.com this summer
LAKEWOOD, NJ, July 26, 2021 — via NewMediaWire— Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), an insurtech company focused on combining advanced technologies with the personalized experience of a traditional insurance agency, today announced its subsidiary, Fortman Insurance Services LLC, has been approved to offer insurance products from Lemonade Inc. and Hippo Enterprises Inc. through the Company’s 5MinuteInsure.com platform.
Ezra Beyman, CEO of Reliance Global Group, commented, “The addition of Lemonade and Hippo to our growing list of insurance carriers marks yet another important milestone for our 5MinuteInsure.com platform. We now offer insurance products from a total of 13 carriers and are approved in 46 states. Lemonade and Hippo are among the most high-tech property and casualty insurance providers in the United States. Their tech forward approach to insurance products makes them a natural fit for the platform. At the same time, we are on track to formally launch 5MinuteInsure.com this summer. The feedback from the carriers as well as consumers that have beta tested the site has been extremely favorable. This is certainly an exciting time for our Company and we look forward to providing further updates.”
5MinuteInsure.com utilizes artificial intelligence (AI) to provide competitive insurance quotes online within five minutes, with minimal data input by the customer. 5MinuteInsure.com combines the best of a traditional insurance agency, including the option for direct agent interaction, with the ability to bind a policy either online or offline. Through 5MinuteInsure.com, consumers can compare live quotes for home and auto insurance between multiple carriers, as well as instantly purchase coverage on the same single platform. This is a major differentiating factor from lead generator comparison sites that compare non-binding quotes and often sell personal information to third-party providers.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is an insurtech company combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including through 5minuteinsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies. Additional information about the Company is available at https://www.relianceglobalgroup.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the 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. 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 Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
