The digital insurance agency, which was previously granted licenses in Florida and Texas, plans to expand further across the US
US digital insurance agency Nsure.com, which is backed by New York-based holding company Reliance Global Group, has secured a license to operate and sell insurance in California.
The online insurance agency, which was previously granted licenses in Florida and Texas, plans to expand further across the US.
Based in Florida, Nsure.com is said to use digital technology to help insurance consumers in comparing prices across more than 40 top-rated insurance carriers and bind policies within minutes.
The digital insurance agency sells auto and home insurance products
Through its secure website, the digital insurance agency offers auto and home insurance, which can be bought by customers using their smartphones, tablets, and computers. Nsure.com is said to leverage artificial intelligence and other advanced technologies to mine various data sources and for auto-filling complicated insurance applications.
Reliance Global Group CEO Ezra Beyman said: “This license in California is a major milestone for both Nsure.com and Reliance Global Group. In addition to the standalone potential of Nsure.com, there are significant synergies with our traditional ‘bricks-and-mortar’ agencies, which we expect will significantly reduce back-office expenses, as well as allow our agents to focus exclusively on selling new policies.”
It was in February 2020 that Reliance Global Group announced a partnership and investment into Nsure.com. The former expects to inject up to $20m in the digital insurance agency through a series of planned investments to own a stake of 35%, with an option to increase by another 5%.
Under the partnership, Nsure.com agreed to offer back-end support for Reliance Global Group’s agency business, which is anticipated to bring in significant efficiencies and cost reductions.
Nsure.com CEO Wojtek Gudaszewski said: “Thanks to the investment and alliance with Reliance, we have now added California to the states in which we are licensed. Importantly, California has the largest population in the United States. As a result, we are now licensed in the three most populous states in the nation, representing a significant portion of the total U.S. population, with plans to rapidly enter additional markets.”