Reliance Global Group Expands RELI Exchange Commercial Quote & Bind InsurTech Platform Following Successful Beta Launch
Reliance Global Group (Nasdaq: RELI) announced a major expansion of its Commercial Quote & Bind InsurTech solution on RELI Exchange, following its successful beta launch in late 2024. The expansion includes additional carriers and product offerings to the platform's agent distribution channel, with plans to introduce more business lines and carriers in upcoming months.
The enhanced platform aims to empower insurance agents with advanced InsurTech solutions to improve efficiency and business growth. The system allows agents to quote and bind a wider range of commercial insurance policies, optimizing the insurance purchasing experience through automation.
According to CEO Ezra Beyman, these enhancements will enable agents to connect with more prospects, write more policies, and increase their earnings. The company's goal is to position RELI Exchange as the industry's leading comprehensive agency partner platform.
Reliance Global Group (Nasdaq: RELI) ha annunciato una significativa espansione della sua soluzione Commercial Quote & Bind InsurTech su RELI Exchange, a seguito del suo successo nella fase beta lanciata alla fine del 2024. L'espansione include nuovi carrier e offerte di prodotti per il canale di distribuzione degli agenti della piattaforma, con piani per introdurre ulteriori linee di business e carrier nei prossimi mesi.
La piattaforma potenziata mira a fornire agli agenti assicurativi soluzioni InsurTech avanzate per migliorare l'efficienza e la crescita del business. Il sistema consente agli agenti di quotare e vincolare una gamma più ampia di polizze assicurative commerciali, ottimizzando l'esperienza di acquisto dell'assicurazione attraverso l'automazione.
Secondo il CEO Ezra Beyman, questi miglioramenti consentiranno agli agenti di connettersi con un numero maggiore di potenziali clienti, stipulare più polizze e aumentare i propri guadagni. L'obiettivo dell'azienda è posizionare RELI Exchange come la principale piattaforma partner per agenzie del settore.
Reliance Global Group (Nasdaq: RELI) anunció una importante expansión de su solución Commercial Quote & Bind InsurTech en RELI Exchange, tras su exitoso lanzamiento beta a finales de 2024. La expansión incluye transportistas adicionales y ofertas de productos en el canal de distribución de agentes de la plataforma, con planes de introducir más líneas de negocio y transportistas en los próximos meses.
La plataforma mejorada tiene como objetivo empoderar a los agentes de seguros con soluciones InsurTech avanzadas para mejorar la eficiencia y el crecimiento empresarial. El sistema permite a los agentes cotizar y asegurar una gama más amplia de pólizas de seguro comercial, optimizando la experiencia de compra de seguros a través de la automatización.
Según el CEO Ezra Beyman, estas mejoras permitirán a los agentes conectarse con más prospectos, redactar más pólizas y aumentar sus ingresos. El objetivo de la empresa es posicionar RELI Exchange como la principal plataforma de socios para agencias en la industria.
Reliance Global Group (Nasdaq: RELI)는 2024년 말 성공적인 베타 출시 이후 RELI Exchange에서 Commercial Quote & Bind InsurTech 솔루션의 주요 확장을 발표했습니다. 이번 확장에는 플랫폼의 에이전트 배급 채널에 추가 운송업체 및 제품 제공이 포함되며, 향후 몇 달 동안 더 많은 사업 라인과 운송업체를 도입할 계획입니다.
강화된 플랫폼은 보험 에이전트들이 효율성과 비즈니스 성장을 개선할 수 있도록 고급 InsurTech 솔루션을 제공합니다. 이 시스템은 에이전트가 더 넓은 범위의 상업 보험 정책을 견적하고 바인딩할 수 있게 하여 자동화를 통해 보험 구매 경험을 최적화합니다.
CEO인 Ezra Beyman에 따르면, 이러한 개선 사항은 에이전트들이 더 많은 잠재 고객과 연결하고, 더 많은 정책을 작성하며, 수익을 증가시킬 수 있게 해줍니다. 회사의 목표는 RELI Exchange를 업계 최고의 종합 에이전시 파트너 플랫폼으로 자리매김하는 것입니다.
Reliance Global Group (Nasdaq: RELI) a annoncé une expansion majeure de sa solution Commercial Quote & Bind InsurTech sur RELI Exchange, suite à son lancement bêta réussi à la fin de 2024. L'expansion comprend des transporteurs et des offres de produits supplémentaires pour le canal de distribution des agents de la plateforme, avec des plans pour introduire davantage de lignes d'affaires et de transporteurs dans les mois à venir.
La plateforme améliorée vise à donner aux agents d'assurance des solutions InsurTech avancées pour améliorer l'efficacité et la croissance de l'entreprise. Le système permet aux agents de chiffrer et de lier une gamme plus large de polices d'assurance commerciales, optimisant ainsi l'expérience d'achat d'assurance grâce à l'automatisation.
Reliance Global Group (Nasdaq: RELI) kündigte eine bedeutende Expansion seiner Commercial Quote & Bind InsurTech-Lösung auf RELI Exchange an, die nach dem erfolgreichen Beta-Start Ende 2024 erfolgt. Die Expansion umfasst zusätzliche Anbieter und Produktangebote für den Vertriebskanal der Plattform, mit Plänen zur Einführung weiterer Geschäftslinien und Anbieter in den kommenden Monaten.
Die verbesserte Plattform zielt darauf ab, Versicherungsmakler mit fortschrittlichen InsurTech-Lösungen zu unterstützen, um Effizienz und Geschäftswachstum zu verbessern. Das System ermöglicht es Maklern, eine breitere Palette von gewerblichen Versicherungen zu quotieren und abzuschließen und optimiert das Versicherungserlebnis durch Automatisierung.
Laut CEO Ezra Beyman werden diese Verbesserungen den Maklern ermöglichen, mit mehr Interessenten in Kontakt zu treten, mehr Policen abzuschließen und ihre Einnahmen zu steigern. Das Ziel des Unternehmens ist es, RELI Exchange als die führende umfassende Partnerplattform der Branche zu positionieren.
- Successful expansion of Commercial Quote & Bind InsurTech platform
- Addition of new carriers and product offerings to distribution channel
- Enhanced automation capabilities for insurance policy processing
- Platform improvements aimed at increasing agent efficiency and revenue
- None.
Insights
The strategic expansion of RELI Exchange's Commercial Quote & Bind platform marks a pivotal development in the company's InsurTech trajectory. The successful beta launch validation has led to a calculated platform enhancement that addresses three critical value drivers:
Carrier Network Expansion: By increasing the number of carriers and product offerings, RELI is building a stronger network effect - a important competitive moat in the InsurTech space. Each additional carrier exponentially increases the platform's utility for agents, potentially creating a self-reinforcing growth cycle that could accelerate market penetration.
Operational Leverage: The automation-driven platform demonstrates significant operational leverage potential. As more carriers and products are integrated, the marginal cost of processing additional policies decreases, while the platform's value proposition to agents increases. This scalability characteristic is particularly attractive in the insurance distribution sector, where traditional models often face linear growth constraints.
Revenue Diversification: The expansion into new lines of business suggests a strategic move toward revenue diversification. This approach not only helps mitigate risk but also positions RELI to capture a larger share of agents' business portfolios. The focus on commercial insurance products is particularly noteworthy, as this segment typically offers higher premiums and commissions compared to personal lines.
However, investors should note that while the platform expansion represents positive momentum, the absence of specific performance metrics from the beta launch makes it challenging to quantify the immediate revenue impact. The success of this expansion will largely depend on agent adoption rates and the platform's ability to demonstrate measurable efficiency gains in policy binding and servicing.
LAKEWOOD, N.J., Feb. 18, 2025 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance”, “we” or the “Company”) today announced a significant expansion of its Commercial Quote & Bind InsurTech solution on RELI Exchange, building off the highly successful beta launch late last year. This expansion brings additional carriers and more product offerings to RELI Exchange’s agent distribution channel, with plans to continuously introduce new lines of business and carriers in the coming months.
“At Reliance, our mission is to empower agents with best-in-class InsurTech solutions that maximize efficiency and drive business growth,” said Ezra Beyman, Chairman and CEO of Reliance. “By expanding our network of carriers and product lines, we are providing our agency partners with the tools they need to serve clients more quickly and effectively. These enhancements will enable agents to connect with more prospects, write more policies, and ultimately build their businesses and increase their earnings.”
“Strategic technology integration remains a key driver of our continued success, and the enhanced RELI Exchange platform is a testament to this commitment. With its ability to seamlessly quote and bind a broader range of commercial insurance policies, RELI Exchange continues to strengthen its position as a leading InsurTech provider—leveraging automation to optimize the insurance purchasing experience for both agents and their clients,” added Mr. Beyman.
“This expansion marks another milestone in our vision to make RELI Exchange the most powerful and comprehensive agency partner platform in the industry,” said Moshe Fishman, Director of InsurTech and Operations at Reliance. “By continuously adding new carriers and insurance products, we are ensuring that our agents remain at the forefront of the industry, equipped with the latest technology to drive their success.”
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI) is an InsurTech pioneer, leveraging artificial intelligence (AI), and cloud-based technologies, to transform and improve efficiencies in the insurance agency/brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies an entire suite of business development tools, enabling them to effectively compete with large-scale national insurance agencies, while reducing back-office cost and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, utilizes AI and data mining, to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail “brick and mortar” insurance agencies which are leaders and pioneers in their respective regions throughout the United States, offering a wide variety of insurance products. Further information about the Company can be found 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. In some cases, forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions and include statements such as the Company having built a best-in-class InsurTech platform, making RELI Exchange an even more compelling value proposition and further accelerating growth of the platform, rolling out several other services in the near future to RELI Exchange agency partners, building RELI Exchange into the largest agency partner network in the U.S., the Company moving in the right direction and the Company’s highly scalable business model driving significant shareholder value. 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 ,and risks and uncertainties related to the Company’s ability to generate the revenue anticipated and the ability to build the RELI Exchange into the largest agency partner network in the U.S., and the other factors described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 as the same may be updated from time to time. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, the Company’s Quarterly Reports on Form 10-Q, the Company’s Current Reports on Form 8-K and subsequent filings with the Securities and Exchange Commission. 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.
Contact:
Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: RELI@crescendo-ir.com
FAQ
What new features were added to RELI Exchange in February 2025?
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