Here are 1-3 brief analogies for Reliance Global (RELI):

• Shopify for insurance agencies
• Salesforce for insurance agencies
• Zillow for real estate agents

• Insurance Agency Services: Reliance Global Group provides a wide range of property, casualty, life, and health insurance products to individuals and businesses through its network of acquired insurance agencies.
• Insurtech Platform Development: The company develops and utilizes proprietary technology platforms to digitize and streamline the insurance brokerage process, aiming to enhance customer experience and operational efficiency.

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Ezra Beyman, Chairman + CEO

Mr. Beyman brings nearly three decades of entrepreneurial experience in real estate and ten years in insurance. In 1985, he founded his first mortgage brokerage, which grew to be the third-largest licensed mortgage brokerage in America by 2008, having acquired numerous mortgage companies. He also expanded to real estate acquisition, growing his portfolio to over three billion dollars. In 2005, he began acquiring insurance agencies. He also founded Reliance Global Holdings LLC in 1985 and was previously President of Empire Equity Group, Inc. EmPRO Insurance Co., where Mr. Beyman was a Corporate Officer/Principal, was acquired by Sirius Global Solutions, Inc. from Jefferies Financial Group, Inc. in 2013.

Joel Markovits, CPA, Chief Financial Officer

Mr. Markovits joined Reliance Global Group in June 2021, bringing over 12 years of financial and accounting experience. Prior to this, he was a senior manager at KPMG LLP from April 2015 to May 2021, where he led significant audit engagements, including a global $16 billion enterprise.

Yaakov Beyman, Exec. Vice President. Insurance Division

Mr. Beyman oversees the overall insurance operations of Reliance Global Group, including strategy and the development and implementation of operational tools. He holds insurance licenses in most of the continental United States and is heavily involved in marketing, maintaining technological models, financial management, distributions, and entity creation and maintenance.

Grant Barra, Senior Vice President of Operations

Mr. Barra oversees the expansion of the RELI Exchange Agency Partner Network and integrates Reliance Global Group's proprietary Insurtech offerings. With over 18 years of experience in the insurance industry, he founded Barra & Associates in 2008 and served as its CEO until its acquisition by Reliance Global Group in 2022. Earlier in his career, he founded Grant Barra Agency.

Moshe Fishman, Director of Insurtech and Operations

Mr. Fishman joined Reliance Global Group in 2021. Prior to this role, he founded and operated successful insurance businesses, Fishman Insurance Agency and Tekeno Financial. He is recognized for his visionary approach in the InsurTech and FinTech sectors.

One clear emerging threat to Reliance Global (RELI) stems from the rise of Direct-to-Consumer (DTC) Insurtech companies. These firms leverage advanced technology, artificial intelligence, and mobile-first platforms to offer insurance products directly to consumers, bypassing traditional insurance agencies. Companies like Lemonade and Root provide streamlined online application processes, personalized pricing, and immediate policy issuance, appealing to a segment of the market seeking convenience and transparency. While RELI aims to modernize and consolidate the agency model, DTC insurtechs fundamentally challenge the necessity of the intermediary agency itself, potentially eroding the addressable market and value proposition of the agencies RELI acquires and manages.

Another clear emerging threat is the growing trend of embedded insurance. This involves the integration of insurance offerings directly into the point of sale for other products or services, such as purchasing travel insurance when booking a flight, or device protection plans when buying electronics. Companies like Cover Genius are leaders in this space, making insurance an almost invisible add-on rather than a separate purchase requiring agent interaction. As more industries adopt embedded insurance models, the demand for traditional agency-driven insurance sales could diminish, impacting RELI's core business model of acquiring and managing such agencies.

• Health and Medical Insurance: The U.S. health and medical insurance market was valued at approximately USD 1.57 trillion in 2025 and is projected to reach USD 2.1 trillion by 2030.
• Medicare Supplement Health Insurance: The U.S. Medicare supplement health insurance market was estimated at USD 27.90 billion in 2023 and is expected to grow to USD 39.26 billion by 2030.
• Long-term Care Insurance: The Long Term Care Insurance industry in the United States is estimated to reach an estimated $25.6 billion in revenue in 2025.
• Life Insurance: The U.S. life insurance market size was estimated at USD 1.93 trillion in 2024 and is predicted to be worth around USD 4.74 trillion by 2034.
• Property and Casualty Insurance: The U.S. Property and Casualty insurance industry recorded approximately USD 1.06 trillion in Direct Premiums Written in 2024.
• Trucking Insurance: null

Reliance Global (RELI) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:

1. Strategic Acquisitions: The company's acquisition of Spetner Associates is a significant driver, anticipated to nearly double consolidated revenues to approximately $28 million annually and enhance insurance capabilities and market position.
2. Organic Expansion and New Product Offerings: Reliance Global plans for organic expansion of its RELI Exchange Agency Partner Network and the introduction of new products and services. This is evidenced by growth in organic revenues and the launch of new services such as Relay Auto Leasing, which provides a new revenue stream for agents.
3. Focus on Technology and AI-Powered Solutions: A strategic shift towards higher-margin, technology-driven business segments is a key focus. This includes the successful launch and continued expansion of an AI-powered Quote & Bind solution on the RELI Exchange platform, which aims to improve underwriting precision and streamline services.
4. Enhanced Operational Efficiency through the OneFirm Strategy: The implementation of the "OneFirm approach" on the RELI Exchange platform is designed to improve operational efficiency, increase revenue, and reduce expenses. This integrated strategy is intended to position the company for sustainable and scalable long-term growth.

Share Repurchases

• Reliance Global Group authorized a $3 million share repurchase program in September 2022.

Share Issuance

• In June 2025, the company completed a private placement, raising approximately $2.5 million in gross proceeds from the issuance of 1,488,096 shares of common stock and warrants, with a potential for an additional $4.25 million if warrants are fully exercised.
• As of November 2025, Reliance Global Group raised capital through a June private placement (net ~$2.15 million), an ATM program (net ~$2.02 million year-to-date), and an equity line of credit ($350,000 through quarter-end).
• Since August 1, 2025, the company issued an aggregate of 613,854 shares of common stock, including 450,000 shares for $360,000 via an equity line of credit, and 110,668 shares valued at $100,000 for marketing services.

Outbound Investments

• Reliance Global Group plans to purchase up to $120 million in digital assets, including Bitcoin, Ethereum, and Solana, as part of a new digital asset treasury strategy, with the first phase targeting $60 million and a potential additional $60 million.
• The company is close to completing its acquisition of Spetner, which is expected to nearly double annual revenue to approximately $28 million and significantly boost Adjusted EBITDA, with completion anticipated in early 2025.

Capital Expenditures

• Reliance Global Group reported quarterly capital expenditures of $4,233 for June 2025.
• The company's Property, Plant & Equipment was reported at $1.19 million in fiscal year 2024, $0.88 million in fiscal year 2023, and $1.18 million in fiscal year 2022.
• As of October 15, 2025, the Capex-to-Operating-Cash-Flow ratio was 0.00, indicating very low capital expenditures relative to operating cash flow.