Welcome to our dedicated page for Reliance Global Group news (Ticker: RELIW), a resource for investors and traders seeking the latest updates and insights on Reliance Global Group stock.
Reliance Global Group Inc (RELIW) operates at the forefront of InsurTech innovation, combining artificial intelligence with strategic acquisitions to transform insurance operations. This dedicated news hub provides investors and industry professionals with essential updates on corporate developments, technological advancements, and market positioning.
Access real-time information about earnings announcements, partnership agreements, and technology deployments that shape the company's growth trajectory. Our curated collection includes press releases detailing AI platform enhancements, acquisition strategies, and operational efficiency initiatives across wholesale/retail insurance markets.
Key focus areas include cloud-based solution rollouts, risk management innovations, and regulatory compliance updates. Users benefit from centralized access to strategic decisions impacting the company's InsurTech leadership and financial performance.
Bookmark this page for streamlined monitoring of RELIW's market movements and technology-driven transformation within the insurance sector. Return regularly for authoritative reporting on developments that influence the evolving landscape of digital insurance solutions.
Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) announced that CEO Ezra Beyman will present at the H.C. Wainwright 23rd Annual Global Investment Conference, occurring virtually from September 13-15, 2021. The presentation will be available on-demand for registered attendees starting September 13 at 7:00 AM ET. Additionally, management will engage in one-on-one meetings with investors during the conference. Reliance Global Group focuses on integrating advanced technologies with a traditional insurance model, positioning for growth through organic expansion and strategic acquisitions.
Reliance Global Group (NASDAQ: RELI, RELIW) reported a 33.4% revenue increase in Q2 2021, totaling $2.2 million compared to $1.6 million last year. The company ended the quarter with over $6.8 million in cash. Plans are underway to launch 5MinuteInsure.com this summer, expanding its offerings to 16 insurance carriers across 46 states. Despite the growth, operations showed a net loss of $1,276,886 for the quarter, though the loss per share improved to ($0.12) from ($0.27) the previous year.
Reliance Global Group announced that its subsidiary, Fortman Insurance Services, has secured approval to offer insurance products from Lemonade and Hippo on its 5MinuteInsure.com platform. This expansion adds to the platform's existing offerings from 13 insurance carriers and aims for a commercial launch this summer, after receiving positive feedback from beta tests. The platform utilizes artificial intelligence to provide quick insurance quotes while maintaining the option for direct agent interaction.
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.
Reliance Global Group (NASDAQ: RELI, RELIW) reported a 15% revenue increase, reaching $2,296,328 for Q1 2021 compared to $2,004,314 in Q1 2020. The company maintained over $10 million in cash, enhancing its financial stability. A significant acquisition of J.P. Kush and Associates aims to expand its services and enhance cash flow. The firm is focused on the rollout of 5minuteinsure.com, which promises quick, AI-driven insurance quotes, aiming to disrupt the insurtech market. Net loss narrowed to $641,328 from $979,798 in the same quarter last year.
Reliance Global Group, Inc. (Nasdaq: RELI, RELIW) has acquired J.P. Kush and Associates, a healthcare insurance agency operating in 10 states. This acquisition adds over 100 independent agents to Reliance's network and enhances its health insurance expertise. J.P. Kush generated over $1.1 million in revenue in the past year, with attractive operating margins. The $1.95 million purchase is expected to be accretive, funded through cash, restricted stock, and an earnout. The acquisition aligns with Reliance's strategy to enhance its insurance offerings, particularly through its 5minuteinsure.com platform.
Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) announced that its subsidiary, Fortman Insurance Services LLC, has received approval to offer Travelers and Nationwide insurance products nationally via the 5MinuteInsure.com platform. The initial focus will be on home and auto insurance, with plans for additional coverage options. CEO Ezra Beyman highlighted this approval as a significant milestone, enhancing their AI-driven quote comparison service. This development is expected to boost the company's growth strategy, which includes organic expansion and acquiring undervalued insurance agencies.
Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) has announced that its Reliance Insurtech division has received licenses to sell home and auto insurance in 40 states, with plans for further expansion. The company is configuring its 5MinuteInsure.com platform to offer services in these states, onboarding various insurance carriers. Utilizing advanced AI technology, this platform aims to provide competitive insurance quotes in under five minutes, appealing to the growing trend of online shoppers.
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.
Reliance Global Group, Inc. (Nasdaq: RELI) has appointed Moshe Fishman as Director of Insurance Operations. Fishman will oversee the integration of insurance agencies and the launch of the new platform, 5MinuteInsure.com. He previously served as President of Tekeno Financial, where he developed unique insurance products and marketing strategies. CEO Ezra Beyman expressed confidence in Fishman’s experience and the potential of 5MinuteInsure.com to enhance customer experience and operational efficiency.
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