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Reliance Global Group Inc operates as a holding company with diversified interests in the insurance market, as well as other related sectors. The company focuses on growing by pursuing an acquisition strategy, initially and primarily focused on wholesale and retail insurance agencies. Its primary strategy is to identify specific risks to reward arbitrage opportunities and develop these on a national platform, thereby increasing revenues and returns. The company generates revenue in the form of commissions and is an InsurTech pioneer, utilizing artificial intelligence (AI) and cloud-based technologies to transform and improve efficiencies in the insurance agency/brokerage industry.
Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) has expanded its 5MinuteInsure.com platform to four additional states: Missouri, Alabama, Iowa, and West Virginia. This expansion brings the total number of states served to 12, covering over 82 million people. The platform, utilizing AI and data mining, allows users to receive competitive auto insurance quotes quickly and bind coverage within minutes. The company's growth strategy includes organic expansion and acquiring undervalued insurance agencies.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) has announced the promotion of Jonathan Fortman to Vice President of Acquisitions. Fortman, who has been with the company since its acquisition of Fortman Insurance Services in 2019, will report directly to Chairman and CEO Ezra Beyman. The company aims to enhance its growth strategy by accelerating the acquisition of cash flow positive insurance agencies, building on the success of 5MinuteInsure.com. This initiative is part of Reliance's strategy to become a leading 'clicks and bricks' insurance provider.
Reliance Global Group (Nasdaq: RELI; RELIW) has launched 5MinuteInsure.com in South Carolina, now live in 8 states with a total population exceeding 65 million. The platform utilizes AI and data mining to offer competitive insurance quotes in under 2 minutes, allowing consumers to bind coverage within 5 minutes. This initiative aims to provide a fast and efficient way for consumers to save on insurance amid rising inflation. The company continues to expand its digital presence and innovative services.
Reliance Global Group (Nasdaq: RELI; RELIW) has launched its platform 5MinuteInsure.com in North Carolina, expanding its coverage to a total of 7 states. This follows recent launches in Virginia and Tennessee. The platform utilizes AI to provide competitive insurance quotes quickly, allowing consumers to compare and purchase coverage in under 5 minutes. CEO Ezra Beyman emphasized the company's commitment to a rapid rollout and aggressive marketing strategy to enhance market presence.
Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) has launched 5MinuteInsure.com in Virginia, expanding its coverage to six states. The platform offers rapid insurance quotes in under two minutes, allowing consumers to complete purchases in five minutes. CEO Ezra Beyman emphasized the quick rollout alongside strategic marketing for client acquisition. Reliance intends to grow organically and through acquiring cash flow positive insurance agencies, enhancing its AI-driven insurance services.
Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) has launched 5MinuteInsure.com in Tennessee, following successful launches in Michigan, Arizona, Indiana, and Ohio. This platform utilizes AI to provide competitive insurance quotes in under 2 minutes and allows binding of coverage within 5 minutes. CEO Ezra Beyman highlighted the rapid expansion capabilities and the potential for significant policy savings for consumers.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) reported a 54% revenue increase for Q3 2021, reaching $2.6 million compared to $1.7 million in Q3 2020. The company reduced its consolidated EBITDA loss by 88% to approximately $87,000. The successful launch of the 5MinuteInsure.com platform in four states signals robust growth, with regulatory approval in 46 states. The firm ended the quarter with over $6.1 million in cash, indicating a solid balance sheet for future growth.
Reliance Global Group (NASDAQ: RELI, RELIW) has successfully expanded its 5MinuteInsure.com platform to Michigan and Arizona, following launches in Ohio and Indiana. This expansion allows the company to serve a combined population of over 35 million. Customers benefit from quick insurance quotes through a user-friendly digital platform that leverages AI technology to provide competitive rates within minutes. CEO Ezra Beyman emphasized the positive customer response and the scalability of the platform, reinforcing their marketing efforts to drive growth.
Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) announced that CEO Ezra Beyman will present at the Dawson James Securities Small Cap Growth Conference on October 21, 2021, at the Wyndham Grand Hotel in Jupiter, Florida, at 2:00 PM ET. Beyman aims to enhance market awareness of the company through this presentation and subsequent one-on-one meetings with investors. A live webcast and archived recordings will be available for those interested in following the updates on the company’s strategies, which include integrating AI and cloud-based technologies in insurance.
Reliance Global Group (NASDAQ: RELI, RELIW) has successfully launched 5MinuteInsure.com in Indiana, following its initial rollout in Ohio. This platform utilizes AI to provide competitive insurance quotes in under two minutes and allows users to complete purchases in just five minutes. CEO Ezra Beyman noted that marketing efforts in Ohio have increased daily quotes, prompting an accelerated expansion plan to further enhance market presence and shareholder value.
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