Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that RELI Exchange, its business-to-business (B2B) InsurTech platform and agency partner network, has surpassed 100 agency partners (click here to view the RELI Exchange video).
Moshe Fishman, Director of InsurTech at Reliance Global Group commented, “Since its launch in July, RELI Exchange is rapidly becoming one of the premier agency partner networks in the nation. Unlike other agency solutions, our cloud-based platform does not require agency partners to pay upfront or recurring franchise fees to set up or manage – they can simply sign up as an agency partner and start leveraging the power of the RELI Exchange to grow and immediately improve the operating efficiency of their business. RELI Exchange helps agents compare quotes faster and sell more insurance in a way they could not have done before implementing the tech stack that Reliance Global Group has developed. The platform provides competitive insurance quotes from more than thirty insurance carriers nationwide in just a few minutes, ensuring clients are getting the best possible quotes. RELI Exchange also reduces an agent’s back-office burden and expenses by eliminating paperwork, thus providing the agent with more time to focus on their clients, selling policies, and growing their businesses.”
“Our platform is also attracting entrepreneurs who previously served as captive carrier agents or within large and often bureaucratic agencies. These agents can now reap the full benefits of owning their own business. Given the uncertainties of the current economy, property and casualty insurance have withstood the test of time, even in inflationary environments. At the same time, we are aggressively adding new recurring revenue streams to further entice and support the growth of our agency partner network. As a result, we are proud to announce that we have surpassed one hundred agency partners within the network.”
Mr. Ezra Beyman, Chairman and CEO of Reliance, commented, “We have received excellent feedback from our RELI Exchange agency partners. They are already reporting on the positive effects the platform is having on their business. We believe we have built a best-in-class platform and are not aware of any other offering in the insurance industry with the speed, or versatility of RELI Exchange. We are excited that the platform has grown so quickly and look forward to continuing to aggressively add new agency partners and new revenue streams to our network, which we believe will have a multiplier effect on the growth of our business. Given the proprietary software that we developed, our agency partner model is highly scalable, and we believe it will provide us with the ability to grow this business line significantly with little additional costs. As we have stated previously, our goal is to build RELI Exchange into the largest agency partner network in the country and we believe the growth we have already experienced demonstrates that we are on the right path.”