Business
Reliance Global Group Inc. Announces Strategic Partnership and Investment Into NSURE, Inc., America’s First Licensed Digital Insurance Agency®
Nsure.com poised to disrupt $340 billion home and auto insurance market LAKEWOOD, NJ, Feb. 20, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reliance Global
About this update from Reliance Global Group, Inc.
[{"type":"text","content":"\n Nsure.com poised to disrupt $340 billion home and auto insurance market LAKEWOOD, NJ, Feb. 20, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reliance Global Group, Inc. (OTCQB: RELI) (\"Reliance\" or the \"Company\"), today announced that it has formed a strategic partnership with Nsure, Inc. (“Nsure.com”), America’s first licensed digital insurance agency®, and has consummated a $1 million direct investment representing the first in a series of planned investments, expected to total $20 million, at which time, Reliance Global Group would own 35% of Nsure.com with an option to acquire an additional 5%, bringing the total to 40% of Nsure.com. In connection with the strategic partnership, Nsure.com will provide back-end support for Reliance’s agency business, which is expected to drive significant efficiencies and cost reductions. Nsure.com is a licensed online insurance agency that utilizes state of the art digital technology and represents over 30 top-rated insurance companies. Nsure.com’s mission is to empower insurance consumers by helping them choose the best carriers and policies. Nsure.com has a recurring revenue model that includes annual commissions on all policies, including renewals. Nsure.com currently operates within the state of Florida with plans to expand nationwide through the strategic partnership with RELI. Key benefits of the Nsure.com platform include: Simplified application process – Nsure.com uses artificial intelligence and other advanced technologies to mine multiple data sources and auto-fill complicated insurance applications, e.g. home characteristics: construction type, roof shape, roof covering, foundation type, flood zone, etc. Real-time connection with over 30 top-rated insurers allows consumers to transparently compare real, not estimated, quotes from multiple insurers side-by-side. Instant accurate coverage recommendations for home and auto insurance, providing consumers confidence they are not under or over-insured. In-house insurance buying/policy binding capabilities means no redirection to other websites and ability to finalize purchases on Nsure.com in as little as five minutes. Free and secure account enables 24/7 access to quotes, policies and other documents. When it's time for a policy renewal, Nsure.com automatically informs customers about the best offers in the market before their po...