Reliance Global Group Announces Beta Launch of 5MinuteInsure.com
February 18 2021 - 08:00AM
via NewMediaWire --
Reliance Global Group, Inc. (Nasdaq:
RELI), a company engaged in the acquisition and management
of insurance agencies in the United States, today announced the
beta launch of its 5MinuteInsure.com platform as the next
step in expanding the Company’s operations with the goal of
establishing a national footprint. A video teaser of the new
platform is also available at: https://youtu.be/yfWOvboPvjE.
5minuteInsure.com is a tool developed by Reliance Global to be
utilized in conjunction with agency acquisitions, as well as
affiliated agencies. It utilizes artificial intelligence and data
mining to provide competitive insurance quotes within 5 minutes,
with minimal data input. The purpose is to tap into the growing
number of online shoppers in order to drive business to the
Company’s insurance agencies. Consumer prospects are then
transferred to the geographically closest agent and/or
affiliates.
Initially, the beta launch will be limited to
Ohio, beginning with automotive insurance. However, the
Company is in the process of opening the platform to home insurance
as well, with a goal to expand in the ensuing months as practical
and regulatory considerations permit.
Ezra Beyman, CEO of Reliance Global Group, stated,
"The beta launch of 5minuteinsure.com allows customers to rapidly
compare quotes online and directs them to an agent in their area
who can answer questions and bind the policy. 5minuteinsure.com
complements our “bricks and mortar” operations, as we can now route
leads to the agents in our network. This should be a useful tool in
driving business to our platform.
“Unlike other sectors, insurance has been one of
the last to adopt technology and move online. We believe
5minuteinsure.com, combined with our core insurance business, will
provide an attractive solution to consumers. Specifically, we are
blending traditional “human touch” insurance agencies with the
convenience and speed of the modern digital age, which consumers
have come to expect. Through technology, we also look to
reduce back-office paperwork, allowing agents to focus on what they
are good at – selling policies. We also aim to enhance operational
efficiency and drive margin expansion within our insurance
agencies.”
Mr. Beyman concluded, “Now that we have completed
our Nasdaq listing, we are laser-focused on accelerating our
business strategy. We believe the insurance market is ripe
for expansion and poised for disruption through technology, and we
look to 5minuteinsure to be our first venture into this
space.”
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
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