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Reliance Global Group Launches Beta Version of Advanced Quote & Bind InsurTech Solution for Commercial Policies, Ahead of Schedule
LAKEWOOD, N.J., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ:RELI) ("Reliance", "we" or the "Company") today announced the official launch of the beta version of its highly anticipated AI-powered Quote & Bind InsurTech solution for commercial policies. Initially scheduled for release in Q4 2024, the new solution has been launched ahead of schedule, giving RELI Exchange agency partners immediate access to this cutting-edge technology.
The solution, now live on the RELI Exchange platform, enables agents to generate real-time quotes and bind commercial insurance policies instantly from their dashboard. This advanced system covers a wide range of commercial insurance lines, including workers' compensation, general liability, cyber liability, business owner's policies, and executive coverages such as directors & officers (D&O) insurance and employment practices liability insurance (EPLI).
The early launch of the Quote & Bind solution is set to rapidly enhance revenue streams for RELI Exchange partners by streamlining the traditionally labor-intensive quoting process for commercial policies. Agents can now offer clients faster, more competitive quotes and bind coverage instantly, transforming how commercial insurance is transacted with the help of AI automation.
With the solution now in beta, RELI Exchange is already gathering valuable feedback from its users to refine and enhance the platform. The Company expects this AI-driven feature to contribute significantly to premium volume growth and anticipates millions of dollars in new premiums being added to its books in the coming year.
The solution, now live on the RELI Exchange platform, enables agents to generate real-time quotes and bind commercial insurance policies instantly from their dashboard. This advanced system covers a wide range of commercial insurance lines, including workers' compensation, general liability, cyber liability, business owner's policies, and executive coverages such as directors & officers (D&O) insurance and employment practices liability insurance (EPLI).
The early launch of the Quote & Bind solution is set to rapidly enhance revenue streams for RELI Exchange partners by streamlining the traditionally labor-intensive quoting process for commercial policies. Agents can now offer clients faster, more competitive quotes and bind coverage instantly, transforming how commercial insurance is transacted with the help of AI automation.
With the solution now in beta, RELI Exchange is already gathering valuable feedback from its users to refine and enhance the platform. The Company expects this AI-driven feature to contribute significantly to premium volume growth and anticipates millions of dollars in new premiums being added to its books in the coming year.
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