Business
Reliance Global Group Launches RELI Exchange; Highly Scalable InsurTech Platform Expected to Accelerate Growth of Agency Partner Network
Provides New Tools for Independent Agents and Agency Partners to Increase Sales and Reduce Back Office Expenses LAKEWOOD, N.J., July 11, 2022 (GLOBE NEWSWIRE)
About this update from Reliance Global Group, Inc.
[{"type":"text","content":"Provides New Tools for Independent Agents and Agency Partners to Increase Sales and Reduce Back Office Expenses LAKEWOOD, N.J., July 11, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – 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, announces the launch of RELI Exchange, a business-to-business (B2B) InsurTech platform and agency partner network for insurance agents and agencies. Mr. Ezra Beyman, Chairman and CEO of Reliance, commented, “RELI Exchange is a first-in-class technology platform and agency partner network. For agents and agencies that join our network, RELI Exchange is designed to provide instant and competitive insurance quotes from more than thirty insurance carriers nationwide. The platform reduces back-office burden and expenses by eliminating paperwork, thereby providing agents more time to focus on selling policies. RELI Exchange builds on the artificial intelligence and data mining backbone of 5MinuteInsure.com, a platform we designed to target the direct-to-consumer market. At the time we introduced 5MinuteInsure.com, we stated that our longer-term goal was to make the platform more broadly available to independent agents nationwide. The launch of RELI Exchange is the realization of that goal, providing our proven technology to the more than 80 agency partners already within our network. The RELI Exchange partner network, formerly known as Barra & Associates, is now generating more than $10 million in annualized premiums. Unlike a franchise model, we designed RELI Exchange with low barriers to entry and a compelling value proposition that we believe will help us attract many new agency partners—providing them with the tools to make their businesses better.” Grant Barra, Senior Vice President of Operations, stated, “When Reliance acquired Barra & Associates earlier this year, we immediately recognized that the RELI Exchange InsurTech platform could significantly enhance the competitive advantages we provide our agency partners. We believe the addition of this platform will allow us to significantly expand our agency partner network and, in turn, support the growth of their respective businesses by simplifying the sales process. We have al...