Reliance Global Group Expands Sales Initiatives Targeting Large Enterprises and Employee Organizations

Rhea-AI Summary

Reliance Global Group (Nasdaq: RELI; RELIW) announced the expansion of its sales initiatives aimed at large enterprises and employee organizations. Its subsidiary, Southwestern Montana Insurance Center (SWMIC), has been selected as the broker of choice for three additional unions, building on its prior selection for 18 public school districts. The CEO emphasized the company's dual strategy of launching the online platform 5minuteinsure.com and pursuing acquisition opportunities within undervalued insurance agencies, aiming for economies of scale.

Positive

• SWMIC named broker of choice for three additional unions.
• Expansion of sales initiatives targeting large enterprises and employee organizations.
• Prior selection as broker of choice for 18 public school districts.
• 5minuteinsure.com launched to enhance customer engagement and support sales.

Negative

• None.

SWMIC subsidiary chosen as broker of choice for three additional unions

LAKEWOOD, N.J., March 03, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), a company engaged in the acquisition and management of insurance agencies in the United States, announces it is expanding its sales initiatives targeting large enterprises and employee organizations.  As a result, Reliance Global Group’s wholly owned subsidiary, Southwestern Montana Insurance Center, LLC (SWMIC), was recently named broker of choice for an additional three unions.

Ezra Beyman, CEO of Reliance Global Group, stated, "In addition to launching 5minuteinsure.com, our direct-to-consumer offering, we are also accelerating our sales and marketing initiatives targeting large enterprises and employee organizations.  I am pleased to report, SWMIC was recently named broker of choice for 3 premier regional unions.  This follows SWMIC’s selection as Broker of Choice for 18 public school districts.  We are pursuing this same strategy in parallel with our other agencies.”

“We remain steadfast in our mission of acquiring and managing accretive and undervalued insurance agencies, where it is our intention to leverage our national footprint and gain economies of scale.  Our 5minuteinsure.com platform is highly complementary to this strategy as it is designed to provide a cost-effective national platform for online customers to compare quotes and direct them to an agent in their area who can answer questions and bind the policy.  We believe our multi-channel approach will allow us to rapidly scale the business and is strong validation of the value we add to our portfolio of insurance businesses.”

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (NASDAQ: RELI) is moving forward with its goal to operate in the insurance sector through its insurance brokerage agencies and online insurance businesses, and potentially other sectors. RELI's focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.

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.

Contact:

Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: RELI@crescendo-ir.com

FAQ

What recent developments has Reliance Global Group announced regarding its subsidiaries?

Reliance Global Group announced that its subsidiary, Southwestern Montana Insurance Center (SWMIC), has been named broker of choice for three additional unions.

How is Reliance Global Group planning to expand its market presence?

The company is expanding its sales initiatives targeting large enterprises and employee organizations, in addition to launching 5minuteinsure.com.

What is the significance of SWMIC being chosen as broker of choice for multiple unions?

This selection highlights SWMIC's growing influence in the insurance brokerage space, following its prior designation for 18 public school districts.

What is the role of 5minuteinsure.com in Reliance Global Group's strategy?

5minuteinsure.com serves as a direct-to-consumer platform designed to help customers compare insurance quotes and connect with local agents.