Reliance Global Group Schedules Commercial Launch of 5minuteinsure.com for Q3 2021; Demo Video Now Available Online

Rhea-AI Summary

Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) has announced the upcoming commercial launch of its 5minuteinsure.com platform in Q3 2021. This innovative platform leverages artificial intelligence to provide competitive insurance quotes online within five minutes. It combines traditional insurance agency elements with a modern digital approach, allowing for both online and offline policy binding. The company has secured licenses in 46 states and partnered with 11 insurance carriers. The launch follows a successful beta phase that gathered essential user insights.

Positive

• 5minuteinsure.com set to launch in Q3 2021, enhancing market competitiveness.
• AI-driven platform aims to deliver quotes in 5 minutes, improving customer experience.
• Secured licenses in 46 states, expanding operational footprint.
• Partnerships with 11 insurance carriers bolster service offerings.

Negative

• None.

LAKEWOOD, N.J., June 08, 2021 (GLOBE NEWSWIRE) -- 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 plans for the commercial launch of its 5minuteinsure.com platform in Q3 2021 and reports that its new demo video is available on the Company’s website.

5minuteinsure.com is designed to utilize 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. 

Ezra Beyman, CEO of Reliance Global Group, commented, “We continue to advance our new 5minuteinsure.com platform and are making progress towards finalizing the AI and data analytics infrastructure, which we believe will provide an exceptional customer experience.  We have highlighted these capabilities in our new teaser video, which is available on our website.  As recently announced, we now have licenses in 46 states and have agreements with 11 carriers with more to come. As a result, I am pleased to announce we are on track to formally launch the new platform in the third quarter of this year.  This follows our successful Beta launch earlier this year, which helped us gain valuable user insight and preferences to further enhance the offering.  Importantly, we are leveraging the infrastructure of our portfolio companies, including our Fortman Insurance Agency subsidiary, which we believe provides us the experience and track record necessary to help ensure a seamless launch of this new offering in the months ahead.   It is clear that there is growing consumer demand for online tools that compare live quotes for home and auto insurance between multiple carriers, as well as allow customers to instantly purchase the coverage they desire on a single platform. This offering is in stark contrast to conventional lead generator comparison sites that simply compare non-binding quotes and sell the consumer data as leads to third-party agencies.  We could not be more excited about the outlook for our 5minuteinsure.com platform.”

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.

Contact:

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

FAQ

What is 5minuteinsure.com and when will it launch?

5minuteinsure.com is an AI-driven platform by Reliance Global Group that aims to provide competitive insurance quotes online within five minutes. The commercial launch is scheduled for Q3 2021.

What technology does Reliance Global Group use for its insurance platform?

Reliance Global Group combines artificial intelligence and cloud-based technologies with traditional insurance agency services to enhance customer experience.

How many states has Reliance Global Group secured licenses for?

Reliance Global Group has secured licenses in 46 states for its insurance operations.

How many insurance carriers has Reliance Global Group partnered with?

The company has agreements with 11 insurance carriers as part of its offerings.

What was the outcome of the beta launch for 5minuteinsure.com?

The beta launch provided valuable user insights that informed enhancements to the platform before its formal launch.