On Thursday, Reliance Global Group, Inc. announced its new acquisition of the premier healthcare insurance agency J.P. Kush and Associates, for $1.95 million. The former is an insurance and technology-driven company that focuses to gather innovation and blend it into a customized model with the fundamentals of the insurance company. The company is a lucrative and large conglomerate growing with knowledgeable deals and acquisitions. It leverages its businesses with the best tools and technology; this partnership offers the customers a digitally convenient and safe experience.
The new acquisition grew the share prices of the company. The strategic expansion of the portfolio by adding new insurance companies led to the steady growth in businesses with streamlined portfolio management. The annual growth reflects in its revenue by more than 90%. One of the key factors for the growth in the business is the 5MinuteInsure.com -a proprietary tech platform of Reliance. Improved synergy with the partners proved that the company is a great microcap investment.
The new entrant, whose revenue was more than $ 1 million with mid-double-digit operating margins, operates in 10 states in the U.S. With this acquisition, Reliance will gain 100 independent agents to its network. The company will be able to improve its national footprint, build shareholder value, and gain economies of scale.
Joshua Kushnereit has been in the industry for 15 years, therefore has built a large network of agents. His ability to work on the complexities of the Affordable Care Act and how it affects insurance products will be of great benefit to the new venture.
The company recently received the license for home and auto insurance sales in 43 states. The company is thus working to upgrade the digital source to sell insurance products in all the states with creative marketing strategies to reach out to large enterprises.
As Reliance has robust technology the 5MinuteInsure.com plays a vital role to build a customer base from the online shoppers by driving the traffic to their affiliated agents. The company utilizes artificial intelligence technologies that help the customers to get favorable quotes that work on compiling information from minimum data input by customers through their tablets or smartphones.