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. (NASDAQ: RELI; warrants trading as RELIW) issues frequent updates that highlight its activities at the intersection of InsurTech, digital assets, and technology investments. News about the company often centers on the development and scaling of its insurance technology platforms, portfolio optimization within its insurance agency operations, and capital markets or treasury decisions disclosed through press releases and SEC filings.
Company announcements regularly describe progress with the RELI Exchange business-to-business InsurTech platform and the 5minuteinsure.com consumer platform, both of which are positioned by Reliance Global Group as AI- and cloud-enabled tools for insurance distribution. Updates have also covered the sale of non-core insurance agencies and the redeployment of proceeds toward debt reduction and investment in core technology-forward initiatives.
Another recurring theme in the company’s news flow is its Digital Asset Treasury (DAT) strategy. Reliance Global Group has released multiple statements about acquiring and consolidating digital asset positions, including a strategic decision to concentrate its Digital Asset Treasury in Zcash (ZEC). These releases discuss the company’s internal view of privacy-enabled digital assets and their role in its long-term treasury approach.
In addition, the company has publicized the formation of EZRA International Group, a division focused on acquiring controlling stakes in high-tech Israeli companies, and has reported a non-binding term sheet to acquire a majority equity position in Scentech, a diagnostics company developing AI-based breath analysis technologies. News items also cover governance and advisory developments, such as the appointment of a chairman to the Crypto Advisory Board, as well as financial updates and conference call announcements.
Investors and observers following RELIW-related news can expect coverage of InsurTech platform developments, insurance portfolio transactions, digital asset treasury decisions, technology-focused investments through EZRA International Group, and regulatory and financing disclosures that the company releases through GlobeNewswire and SEC filings.
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.
Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) has launched 5MinuteInsure.com in Ohio, marking the start of a nationwide rollout. This platform uses AI to provide personalized insurance quotes in under 2 minutes and allows users to bind coverage within 5 minutes. Customers report savings up to 60% on premiums, exemplified by a client reducing their payment from $2,000 to $800. The CEO projects rapid growth in the online insurance market, supported by partnerships with 16 carriers and approval in 46 states.
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.
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