Our Pick is Reliance Global Group Inc. (NASDAQ: RELI)

RELI @$4.59

For tomorrow we have something Big!

OUR NEW PROFILE IS: NASDAQ: RELI

Reliance Global Group, Inc. Announces Nasdaq Listing and Pricing of $10.8 Million Public Offering

RELI owns six insurance brokerage companies. Employee Benefits Solutions (EBS) and U.S Benefits Alliance, Commercial Coverage Solutions, Southwestern Montana Financial Center, Fortman Insurance Services, and Altrruis Benefits

RELI made a big move earlier this month after the Company received approval to list its common stock and Series A warrants on the Nasdaq Capital Market under the symbols “RELI” and “RELIW”

RELI is doing solid revenues reporting $5,326,375 in sales for the 9 months ended, September 30, 2020 up from $2,710,376 for the same period last year. 

Earlier this month RELI raised approximately $12.42 million, before deducting underwriting discounts and other offering expenses via an underwritten public offering of 2,070,000 shares of common stock

RELI also recently launched the beta version of its 5MinuteInsure.com platform as the next step in expanding the Company’s operations with the goal of establishing a national footprint

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Good Evening Traders,

Our pick today ran hard out of the open and was up over 40% several hours into trading before closing at $0.055.

Our New Pick is Reliance Global Group Inc. (NASDAQ: RELI)

Reliance Global Group, Inc. Announces Nasdaq Listing and Pricing of $10.8 Million Public OfferingReliance Global Group, Inc. (NASDAQ: RELI) is moving forward with its goal to operate in the insurance sector through its insurance brokerage agencies and online insurance businesses, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage. 

RELI owns six insurance brokerage companies. Employee Benefits Solutions (EBS) and U.S Benefits Alliance, two Michigan based insurance agencies specializing in the sale of health insurance products, in the wholesale and retail industry; the third agency, Commercial Coverage Solutions, which focuses on commercial trucking/transportation insurance; the fourth agency Southwestern Montana Financial Center, an independent insurance agency specializing in Group Health insurance; the fifth agency Fortman Insurance Services, an independent insurance agency specializing in property and casualty as well as health benefits; and the sixth agency Altrruis Benefits, an independent insurance agency. 

RELI is doing solid revenues reporting $5,326,375 in sales for the 9 months ended, September 30, 2020 up from $2,710,376 for the same period last year. 

RELI stock made a move last month after the Company received approval to list its common stock and Series A warrants on the Nasdaq Capital Market under the symbols “RELI” and “RELIW”. The sec declared effective a registration statement on Form S-1 relating to these securities on February 8, 2021. A final prospectus relating to this offering will be filed with the SEC. Kingswood Capital Markets, division of Benchmark Investments, Inc., acted as representative of the underwriters for the offering. 

Earlier this month RELI raised approximately $12.42 million, before deducting underwriting discounts and other offering expenses via an underwritten public offering of 2,070,000 shares of common stock and accompanying Series A warrants at a public offering price of $6.00 per share and accompanying Series A warrant, which included the full exercise of the underwriter’s over-allotment option. 

RELI also recently launched the beta version of its 5MinuteInsure.com platform as the next step in expanding the Company’s operations with the goal of establishing a national footprint. 5minuteInsure.com is a tool developed by Reliance Global to be utilized in conjunction with agency acquisitions, as well as affiliated agencies. It utilizes artificial intelligence and data mining to provide competitive insurance quotes within 5 minutes, with minimal data input. The purpose is to tap into the growing number of online shoppers in order to drive business to the Company’s insurance agencies. Consumer prospects are then transferred to the geographically closest agent and/or affiliates. Initially, the beta launch will be limited to Ohio, beginning with automotive insurance.  However, the Company is in the process of opening the platform to home insurance as well, with a goal to expand in the ensuing months as practical and regulatory considerations permit. 5minuteinsure.com complements the Company’s “bricks and mortar” operations, as it can now route leads to the agents in its network.  

RELI has been beefing up its management team with the recent appointment of Moshe Fishman as Director of Insurance Operations.  In this role, he will help oversee the integration of insurance agencies, as well as the rollout of the Company’s new 5MinuteInsure.com platform. Prior to joining Reliance Global Group, Mr. Fishman served as President of Tekeno Financial, LLC, which offers a variety of insurance products and annuities.  While at Tekeno, Mr. Fishman structured a variety of unique no load fee insurance products to compete with low yielding bank products.  He was also responsible for developing online and national media marketing strategies.  Previously, he founded CoverageX LLC, an online platform for comparing, selecting, purchasing and servicing insurance policies.  Mr. Fishman also served as President of Fishman Insurance Agency, a property and casualty insurance agency servicing the commercial real estate market. 

Ezra Beyman, CEO of Reliance Global Group, stated, “We are delighted to welcome Moshe to Reliance Global.  He brings extensive experience and a successful track record in the insurance agency market.  Of particular note, he founded CoverageX, a state-of-the-art online platform for comparing and purchasing insurance policies.  We look forward to leveraging his online and offline insurance background as we prepare the commercial launch of 5minuteinsure.com, which brings together the ‘human touch’ of a traditional agency, with the industry’s most advanced digital and online tools.  We believe 5MinuteInsure.com will not only provide an unparalleled customer experience, but will also allow us to streamline operations and enhance the efficiency of our portfolio companies. In addition, Moshe brings insurance industry experience that will be valuable as we seek to expand our portfolio of nationwide insurance agencies.” 

Reliance Global Group Inc.
Ezra Beyman
Jonathan Fortman
relianceglobalgroup.com

RELI has a compelling chart setup and currently trades near 52 week lows.

RELI MANAGEMENT TEAM:

Ezra Beyman – Chairman & CEO. Mr. Beyman brings nearly three decades of entrepreneurial experience in real estate and ten years in insurance. His portfolio of commercial and residential properties at one point consisted of more than 40,000 residential units, as well as several insurance companies. In 1985, he founded his first mortgage brokerage, which rapidly grew into the third largest licensed mortgage brokerage in America by 2008. He also expanded to real estate acquisition, having grown his portfolio to over three billion dollars.

Yaakov Beyman – Executive Vice President, Insurance Division. Mr. Beyman oversees the overall insurance operations of Reliance, including strategy and developing/implementing operational tools. He holds insurance licenses in most of the continental United States, and is involved heavily in marketing, maintaining state of the art technological models, financial management and distributions, and entity creation and maintenance.

Jonathan Fortman – Chief Operating Officer, Fortman Insurance Services. Prior to joining Reliance, Mr. Fortman has spent the last 18 years operating, owning and expanding his families multiple line insurance agency at Fortman Insurance Services. Along with being a principal of the agency, he also specializes in sales, retention, growth and service for the agencies large book of Employee Benefit clients. He brings an extensive level of agency management experience as well as providing growth strategies for newly acquired agencies.

Mark Sisson – Chief Operating Officer, US Benefits Alliance. Mark has over 20 years of experience working as a broker in the health and life insurance industry. Over the course of that time, he founded Employee Benefits Solutions, LLC in 2003, My Family Health Insurance, a General Agency in 2013, and The Referral Depot in 2014. In 2018, he sold his businesses to Reliance Global Group and now plays an active role in agency acquisitions, national agent recruitment, and alignment of key insurance carrier partnerships.

Julie A. Blockey – General Manager, General Manager, CLU, ChFC, RHU, REBC, CASL. As an agent in Montana for the past 35 years, Julie has learned to appreciate the diverse needs of businesses and families. She strives alongside her staff to find the best solution for every possible need. She welcomes the opportunity to be of service to those she works with.

RELI RECENT NEWS:

Reliance Global Group Announces Beta Launch of 5MinuteInsure.com

On February 18 RELI announced the beta launch of its 5MinuteInsure.com platform as the next step in expanding the Company’s operations with the goal of establishing a national footprint. 5minuteInsure.com is a tool developed by Reliance Global to be utilized in conjunction with agency acquisitions, as well as affiliated agencies. It utilizes artificial intelligence and data mining to provide competitive insurance quotes within 5 minutes, with minimal data input. The purpose is to tap into the growing number of online shoppers in order to drive business to the Company’s insurance agencies. Consumer prospects are then transferred to the geographically closest agent and/or affiliates. Initially, the beta launch will be limited to Ohio, beginning with automotive insurance.  However, the Company is in the process of opening the platform to home insurance as well, with a goal to expand in the ensuing months as practical and regulatory considerations permit.

Ezra Beyman, CEO of Reliance Global Group, stated: “The beta launch of 5minuteinsure.com allows customers to rapidly compare quotes online and directs them to an agent in their area who can answer questions and bind the policy. 5minuteinsure.com complements our “bricks and mortar” operations, as we can now route leads to the agents in our network. This should be a useful tool in driving business to our platform. Unlike other sectors, insurance has been one of the last to adopt technology and move online. We believe 5minuteinsure.com, combined with our core insurance business, will provide an attractive solution to consumers. Specifically, we are blending traditional “human touch” insurance agencies with the convenience and speed of the modern digital age, which consumers have come to expect.  Through technology, we also look to reduce back-office paperwork, allowing agents to focus on what they are good at – selling policies. We also aim to enhance operational efficiency and drive margin expansion within our insurance agencies. Now that we have completed our Nasdaq listing, we are laser-focused on accelerating our business strategy.  We believe the insurance market is ripe for expansion and poised for disruption through technology, and we look to 5minuteinsure to be our first venture into this space.”

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RELI NEWS:

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