Reliance Global Group, Inc. (RELI): Business Model Canvas [Dec-2025 Updated]

You're looking at Reliance Global Group, Inc. (RELI) and seeing a company making a sharp turn, which is exactly what my team flagged: they are actively selling off legacy parts-like the Fortman Insurance Services divestiture netting a $3 million gain-to fund a serious push into InsurTech and a Digital Asset Treasury. Honestly, this isnt just talk; they cut long-term debt by 50% (or $5.6 million) in Q2 2025, while still pulling in $2.5 million in insurance commissions in Q3 2025 against G&A costs of $1.1 million. This canvas breaks down how they are using proprietary platforms like RELI Exchange and even crypto holdings to redefine their value proposition for agents and consumers alike, so you need to see the full structure to grasp the risk/reward profile of this pivot.

Reliance Global Group, Inc. (RELI) - Canvas Business Model: Key Partnerships

Convergence Strategy Partners, LLC for Digital Asset Treasury advice

Reliance Global Group, Inc. entered into a six-month Advisory Agreement with Convergence Strategy Partners, LLC on November 18, 2025. This partnership supports the digital asset treasury program and related blockchain initiatives. As compensation, Reliance Global Group agreed to issue an aggregate of 450,000 shares of common stock. Of these Advisory Shares, 135,000 shares are subject to forfeiture upon certain termination conditions. Blake Janover serves as Chairperson of the Crypto Advisory Board overseeing this strategy.

Multiple insurance carriers for product distribution on RELI Exchange

The RELI Exchange platform relies on a network of insurance carriers to distribute products to agency partners. As of December 19, 2023, the network offered coverage from more than 35 insurance carriers nationwide. The platform had more than 365 agencies in its exclusive Agency Partner network as of that same date. For the second quarter of 2025, Property and Casualty (P&C) revenue saw an 8% increase, which offset shifts in the medical/health client base. RELI Exchange, a subsidiary of Reliance Global Group, is estimated to have revenues between $250 million and $500 million dollars.

Here's a look at some partnership scale metrics, noting the latest available date:

Metric	Value	Date of Data Point
Insurance Carriers on RELI Exchange	More than 35	December 19, 2023
Agency Partners on RELI Exchange	More than 365	December 19, 2023
P&C Revenue Growth (Q2 2025)	8% increase	Q2 2025
Estimated RELI Exchange Revenue	$250 million to $500 million	Current Estimate

Auto leasing partners for the new RELI Auto Leasing platform

RELI Auto Leasing launched on March 19, 2025, allowing RELI Exchange Agency Partners to offer vehicle leasing and earn commissions on both the lease and the residual insurance policy. This platform uses an advanced Insurtech white-labelled quoting engine and CRM for agency partners. The service enables delivery of any vehicle to any location in the United States.

Technology vendors for AI and cloud-based InsurTech solutions

The core technology powering the distribution network involves AI and cloud-based solutions. The RELI Exchange platform is built on the AI and data mining backbone of 5minuteinsure.com. As of October 2025, RELI Exchange has approximately 108 employees across North America, Asia, and Europe supporting these technology-driven operations. The company is exploring opportunities to tokenize insurance-linked assets using blockchain technology.

Key technology-related operational points include:

• RELI Exchange utilizes proprietary technology, including Automation and Artificial Intelligence (AI).
• The platform combines AI and cloud technologies with B2B and B2C distribution.
• The company plans to purchase up to $120 million in digital assets for its treasury strategy.
• The first phase of digital asset purchase is planned up to $60 million.

Reliance Global Group, Inc. (RELI) - Canvas Business Model: Key Activities

You're looking at the core actions Reliance Global Group, Inc. (RELI) is taking to run and transform its business as of late 2025. These activities show a clear pivot toward technology integration and balance sheet strengthening.

Developing and maintaining the RELI Exchange B2B InsurTech platform

A central activity is the ongoing development of the RELI Exchange, which serves as the Company's business-to-business InsurTech platform. This platform gives independent insurance agencies a suite of business development tools. Reliance Global Group, Inc. announced a significant expansion of its Commercial Quote & Bind InsurTech solution on RELI Exchange, building on a successful beta launch. Furthermore, they enhanced the platform with a next-generation Client Service Center, which improves scalability by centralizing client requests and policy administration, allowing agency partners to focus on growth.

Executing the OneFirm strategy to unify agency operations and drive efficiency

The execution of the OneFirm strategy is key to unifying agency operations under one integrated model. This is designed to drive greater internal efficiency and enhance collaboration across teams. The strategy is also positioned to help Reliance Global Group, Inc. scale more effectively and expand margins. The efficiencies gained from this approach helped offset increases in operating expenses; for instance, salaries and wages rose to $2.6 million in Q2 2025 from $2.0 million in Q2 2024, partly due to non-cash share-based compensation, but were offset by OneFirm efficiencies.

Managing the Digital Asset Treasury (DAT) with holdings like Bitcoin and Zcash

Reliance Global Group, Inc. is actively managing its Digital Asset Treasury (DAT) initiative. This involves strategic deployment of capital into cryptocurrencies. The Company announced plans to invest up to $120 million in digital assets, executed in two phases of up to $60 million each, targeting assets like Bitcoin, Ethereum, and Solana. Recent activity shows they have been consolidating the DAT into Zcash (ZEC) and have also added Solana (SOL) and executed a strategic Bitcoin (BTC) purchase. They are also exploring opportunities to tokenize insurance-linked assets using blockchain technology.

Generating insurance commissions through retail agencies and online platforms

Generating revenue through insurance commissions remains a core activity, though it has seen shifts. The Property and Casualty (P&C) revenue stream showed growth, increasing by 8% in Q2 2025. However, overall commission income was slightly down year-over-year in Q2 2025, coming in at $3.1 million compared to $3.2 million in Q2 2024, primarily due to a shift in the medical/health client base. The company also launched RELI Auto Leasing, allowing agency partners to generate commissions from leasing referrals alongside insurance sales.

Here's a quick look at the commission-related financials for Q2 2025:

Metric	Q2 2025 Amount	Q2 2024 Amount
Commission Income	$3.1 million	$3.2 million
P&C Revenue Growth	8% increase	N/A
Commission Expense	$989,000	$886,000

Deleveraging the balance sheet; reduced long-term debt by $5.6 million (50%) in Q2 2025

A significant financial activity was the deleveraging of the balance sheet, largely funded by the sale of Fortman Insurance Services (FIS). Reliance Global Group, Inc. repaid approximately $5.6 million of its long-term debt in Q2 2025, which represented about 50% of the total long-term debt. This action is expected to reduce annual debt service by over $1.8 million. The total reduction in annual debt service obligations across the board was approximately 61%. The sale of FIS itself, which generated $5.0 million in cash, is expected to result in an approximate $3.0 million gain recognized in Q3 2025.

The impact on the balance sheet is clear:

• Reduced long-term debt by $5.6 million.
• Lowered annual debt service by over $1.8 million.
• Achieved a total annual debt service reduction of approximately 61%.
• Working capital improved by approximately 284% to $1.6 million as of Q3 2025 compared to year-end 2024.

It's defintely a major step in improving financial flexibility. Finance: draft 13-week cash view by Friday.

Reliance Global Group, Inc. (RELI) - Canvas Business Model: Key Resources

You're looking at the core assets Reliance Global Group, Inc. (RELI) relies on to execute its strategy as of late 2025. These aren't just line items; they are the engines for their InsurTech push.

The balance sheet strength, post-divestiture, is a key resource. As of the third quarter ended September 30, 2025, the unrestricted cash balance stood at approximately $2.6 million. This represented a significant increase of approximately 590%, or $2.2 million, compared to the prior fiscal year-end.

Here's a quick look at the financial and digital asset positioning as reported through Q3 2025:

Resource Category	Specific Asset/Metric	Latest Reported Value/Status (as of late 2025)
Liquidity	Unrestricted Cash Balance (Q3 2025)	$2.6 million
Digital Asset Treasury Strategy	Primary Digital Asset Exposure	Zcash (ZEC)
Digital Asset Treasury Holdings	Other Confirmed Holdings	Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), XRP
Balance Sheet Improvement	Long-Term Debt Reduction Post-Sale	Approximately 50%

The proprietary InsurTech platforms are central to the value proposition. RELI Exchange is the business-to-business offering, and 5minuteinsure.com serves the consumer directly. The network supporting RELI Exchange is a tangible resource, though the most recent specific count available shows that as of late 2023, the exclusive Agency Partner network included more than 365 agencies operating in 46 states.

The technology stack is a critical, though less quantifiable, resource right now. Reliance Global Group, Inc. is leveraging this for efficiency gains across its operations. The key components here are:

• RELI Exchange: Provides independent insurance agencies a suite of business development tools.
• 5minuteinsure.com: Utilizes AI and data mining to deliver competitive online insurance quotes within minutes.
• AI and data mining technology: Applied for online quoting and process automation.
• Platform Integration: Solana (SOL) acquisition noted for high throughput, suggesting potential for platform integration with RELI Exchange and 5MinuteInsure.com.

Finance: draft 13-week cash view by Friday.

Reliance Global Group, Inc. (RELI) - Canvas Business Model: Value Propositions

You're looking at how Reliance Global Group, Inc. (RELI) is structuring its value to different groups as of late 2025. The core idea is using technology-their RELI Exchange platform-to make independent agencies more competitive and to offer consumers speed and convenience.

For Agents: Suite of business development tools to compete with large national agencies

Reliance Global Group, Inc. provides its RELI Exchange Agency Partners with a suite of business development tools, powered by Automation and Artificial Intelligence (AI), designed to help them stand up to the big national agencies. While I don't have a specific metric on the number of tools or the exact competitive lift, we can see the P&C (Property & Casualty) revenue stream, a key area for these agents, showed growth. For the second quarter of 2025, property and casualty revenue increased by 8%. This platform aims to unify operations and improve internal efficiencies under the OneFirm strategy.

For Consumers: Competitive online insurance quotes within minutes via 5minuteinsure.com

The value proposition for the everyday consumer is speed. The 5minuteinsure.com platform uses AI and data mining to deliver competitive online insurance quotes for auto, home, and life insurance within minutes. This is designed to save you time compared to traditional methods. Although the platform is central to the consumer-facing side, I don't have a specific 2025 statistic on the average quote time or the volume of quotes generated through the site.

Reduced back-office cost and burden for independent agencies

The OneFirm initiative is specifically aimed at driving cost alignment and strengthening operational efficiency across the organization, which translates to a reduced burden for agency partners. The sale of Fortman Insurance Services in Q3 2025, which was completed for $5 million, immediately removed related operating costs. The company is focusing on scaling higher-margin business segments through RELI Exchange, suggesting a leaner operational model for partners.

Convenience of integrated auto leasing and insurance via RELI Auto Leasing

Reliance Global Group, Inc. launched RELI Auto Leasing during the second quarter of 2025. This platform integrates auto leasing options directly, creating a new revenue stream for agents who earn commissions on both the leasing referral and the accompanying insurance. This offers consumers nationwide delivery convenience, bundling two major transactions. We know this was a key strategic launch in Q2 2025, but specific transaction volume data for RELI Auto Leasing isn't public yet.

Enhanced shareholder value through a diversified digital asset treasury strategy

This is where we see some concrete financial actions supporting shareholder value as of the third quarter ended September 30, 2025. The company is progressing its Digital Asset Treasury Initiative and took immediate steps to strengthen its balance sheet. You can see the results of their disciplined financial management in the Q3 2025 figures:

• Unrestricted cash increased approximately 590%, or $2.2 million, reaching $2.6 million compared to the prior fiscal year-end.
• Equity grew by approximately 125%, or $3.7 million, reaching $6.8 million compared to the 2024 fiscal year-end.
• Working capital improved by approximately 284%, or $1.2 million, to $1.6 million.
• The company declared a special dividend of $0.03 Per Share, payable on December 2, 2025.

Here's a quick look at the key financial context from the Q3 2025 report that underpins these balance sheet improvements:

Financial Metric (Q3 2025)	Amount
Commission Income	$2.5 million
Net Loss	$1.2 million
Adjusted EBITDA Loss (Non-GAAP)	$0.7 million
Gain on Sale of Fortman Insurance Services (FIS)	Approximately $3.0 million

The debt reduction was significant, too; they decreased long-term debt by approximately 50%, which lowered annual debt service by over $1.8 million. That's a clear move to improve financial flexibility, which directly supports long-term value creation.

Finance: draft 13-week cash view by Friday.

Reliance Global Group, Inc. (RELI) - Canvas Business Model: Customer Relationships

You're looking at how Reliance Global Group, Inc. (RELI) structures its interactions with its various customer bases-the direct consumer, the B2B agency partner, and the retail client. It's a blended approach, mixing high-tech automation with necessary human touchpoints.

For the direct-to-consumer (B2C) segment, the relationship is almost entirely automated through the 5minuteinsure.com platform. This platform uses AI and data mining to serve customers seeking quick insurance quotes, often within minutes, for products like auto, home, and life insurance. The goal here is speed and self-service efficiency. While specific active user counts for late 2025 aren't public, the platform's design emphasizes minimal customer input to bind coverage, which is a key relationship driver for the digital-first buyer.

The B2B relationship, centered on the RELI Exchange agency partners, is more dedicated. This is where Reliance Global Group, Inc. provides a dedicated support and business development structure. These partners use the InsurTech platform to quote from a wide array of carriers, which, as of late 2023, included more than 35 insurance carriers nationwide. The platform itself, which was generating over $10 million in annualized premiums back in mid-2022, is designed to reduce the partner's back-office burden. The number of agency partners on this network was reported to be more than 365 as of the end of 2023; the latest 2025 figures for this count are not yet public, so we use the most recent available data for this segment.

Reliance Global Group, Inc. also maintains a high-touch service model through its portfolio of retail brick-and-mortar agencies. These are physical locations where customers receive personalized service for a wide variety of insurance products. While the company has been streamlining its portfolio, such as the sale of Fortman Insurance Services in Q3 2025, the core strategy still involves these local, human interactions to complement the digital offerings. The Q2 2025 commission income for the company was $3.1 million, and this figure was $2.5 million in Q3 2025, showing the mix of revenue sources Reliance Global Group, Inc. manages across its customer channels.

Incentivizing agents is critical, and Reliance Global Group, Inc. actively works to deepen these relationships by offering new revenue streams. The launch of RELI Auto Leasing in 2025 is a prime example. This new offering allows RELI Exchange agency partners to earn commissions by providing clients with convenient access to vehicle leasing nationwide, all without needing auto finance expertise. This directly ties agent success to new product adoption. For context on the overall business health supporting these relationships, the Property & Casualty (P&C) revenue stream saw an 8% increase in Q2 2025, indicating growth in the core products agents sell.

Here is a quick look at the reported scale of the RELI Exchange partner network based on the latest available updates:

Metric	Reported Value	Date of Last Report
Agency Partners (Minimum)	365	Late 2023
Insurance Carriers Quoted	More than 35	Late 2023
Annualized Premiums (Reported)	More than $10 million	Mid-2022

The service delivery across these channels can be summarized by the following relationship characteristics:

• B2C: AI-driven quote generation for speed.
• B2B: Cloud-based platform with low barriers to entry.
• Retail: Personalized, in-person consultation for complex needs.
• Agent Incentives: New commission streams like auto leasing.

The company's focus on operational efficiency under the OneFirm strategy is intended to improve service experiences for both clients and agents alike. If onboarding takes 14+ days, churn risk rises, so speed in partner integration is a key operational metric for this relationship block.

Finance: draft 13-week cash view by Friday.

Reliance Global Group, Inc. (RELI) - Canvas Business Model: Channels

You're mapping out how Reliance Global Group, Inc. (RELI) gets its value proposition to the market as of late 2025. It's a mix of tech platforms and owned physical presence, which is typical for an InsurTech pioneer looking to bridge the digital and traditional worlds.

RELI Exchange: Business-to-Business (B2B) InsurTech platform

This is the core B2B engine, designed to give independent insurance agencies a technological edge. It uses AI and cloud tech to streamline operations for agency partners, letting them compete better against bigger national players. As of October 2025, RELI Exchange has approximately 108 employees across North America, Asia, and Europe.

The platform handles personal and commercial lines, including property, casualty, life, and health markets. In February 2025, Reliance Global Group, Inc. announced an expansion of its Commercial Quote & Bind InsurTech solution, adding more carriers and product offerings following a successful beta launch late in 2024.

Key channel features include:

• It operates through an exclusive agency partner network.
• Agency Partners operate under their own name and brand.
• The platform offers a Client Referral Portal (CRP) for real estate and auto industries.
• There are no carrier production requirements for agency partners.

5minuteinsure.com: Business-to-Consumer (B2C) online platform

This is the direct-to-consumer face, using AI and data mining to serve everyday consumers. The goal here is speed-providing competitive online insurance quotes within minutes for auto, home, and life insurance policies. While the latest state/carrier counts are from earlier reports, the platform was approved in 46 states and partnered with 16 carriers at one point, showing its broad reach potential.

One reported example showed a client reducing their payment from $2,000 to $800, representing savings up to 60% on premiums. This platform is definitely driving organic growth across the distribution channels, evidenced by the Q1 2025 commission income revenue increase of 4%, or $153,782, to $4,236,220 compared to Q1 2024.

Portfolio of select retail brick-and-mortar insurance agencies

Reliance Global Group, Inc. maintains a portfolio of select retail agencies operating as 'brick and mortar' locations across the United States. These agencies offer a wide variety of insurance products and serve as pioneers in their regions. However, the strategy has shifted toward tech-enabled, higher-margin segments.

A concrete action reflecting this shift was the sale of Fortman Insurance Services (FIS), a wholly owned subsidiary, for $5 million in cash. This divestiture was completed by the third quarter of 2025, as the Q3 2025 commission income of $2.5 million reflected the loss of revenue from FIS compared to $3.4 million in Q3 2024.

RELI Auto Leasing: Integrated platform for auto leasing referrals

This is a newer channel component, launched around the first quarter of 2025, designed to integrate vehicle leasing into the insurance process. It allows RELI Exchange agency partners to offer clients convenient access to nationwide vehicle leasing and earn commissions without needing auto finance expertise. This move enhances the value proposition for agents and creates a new revenue stream.

Here's a quick look at how the core revenue-generating channels stack up based on recent financial reporting periods:

Channel Component	Primary Function	Latest Reported Revenue/Scale Metric (2025)	Key Financial Impact Note
RELI Exchange (B2B)	InsurTech platform for independent agencies	Estimated revenues between $250 million and $500 million	Drives organic growth across distribution channels
5minuteinsure.com (B2C)	Online quote and bind platform for consumers	Approved in 46 states (latest reported)	Contributes to commission income growth
Retail Agencies (Owned)	Select physical insurance sales/service	Fortman Insurance Services sold for $5 million cash	Sale reduced Q3 2025 commission income year-over-year
RELI Auto Leasing	Integrated leasing referral service	Launched in Q1 2025	Opens a compelling new revenue stream for agents

The overall financial health supporting these channels saw unrestricted cash increase approximately 590%, or $2.2 million, to $2.6 million as of the end of Q3 2025 compared to the prior fiscal year-end. Finance: draft 13-week cash view by Friday.

Reliance Global Group, Inc. (RELI) - Canvas Business Model: Customer Segments

You're looking at how Reliance Global Group, Inc. (RELI) structures its market focus as of late 2025. The strategy clearly splits between empowering other businesses and serving the end consumer directly, all while keeping an eye on the capital markets.

Independent insurance agencies seeking technology and scale (B2B)

This group is targeted through the RELI Exchange platform. This business-to-business InsurTech platform gives independent insurance agencies the tools to compete with larger national agencies. The goal here is driving internal efficiency and scaling operations, which ties directly into the company's financial performance, like the push for margin expansion mentioned after the Q2 2025 results.

• Platform: RELI Exchange, a business-to-business InsurTech offering.
• Value offered: Suite of business development tools and reduced back-office cost.
• Strategic context: Focus on scaling higher-margin business segments following asset divestitures.

Everyday consumers needing auto, home, and life insurance (B2C)

Reliance Global Group, Inc. (RELI) reaches everyday consumers via its 5minuteinsure.com platform. This business-to-consumer channel uses AI and data mining to deliver quick, competitive online insurance quotes. The company has seen shifts in its client base, as noted by the modest revenue dip in Q2 2025 being primarily due to a shift in the medical/health client base, which was offset by an 8% increase in property and casualty (P&C) revenue stream in that same quarter.

• Platform: 5minuteinsure.com, utilizing AI and data mining.
• Products: Auto, home, and life insurance quotes.
• Financial context: P&C revenue grew by 8% in Q2 2025.

Clients of retail insurance agencies across the United States

This segment is served through the broader network of agency operations, which the company is unifying under its OneFirm strategy to enhance service experiences. While the sale of Fortman Insurance Services (FIS) for $5 million in Q3 2025 reduced short-term commission income (which was $2.5 million in Q3 2025, down from $3.4 million in Q3 2024), the move was intended to allow resources to focus on scaling other core areas. The company is definitely focused on its core insurance distribution channels, which saw commission income rise by 4% to $4.2 million in Q1 2025 year-over-year.

Investors interested in a tech-enabled insurance model with a digital asset treasury

This segment is less about direct insurance sales and more about the capital structure and forward-looking strategy. The company has been actively managing its balance sheet, reducing long-term debt by approximately 50% (or $5.6 million) in Q2 2025, which cut annual debt service by $1.8 million. Furthermore, recent news indicates a focus on the digital asset side, specifically mentioning the consolidation of its Digital Asset Treasury into Zcash (ZEC) and increasing its Zcash (ZEC) position through additional cash deployment.

Here's the quick math on the balance sheet strengthening following the Q3 2025 Fortman sale:

Financial Metric	Q3 2025 Result	Change vs. Prior Year-End
Unrestricted Cash	$2.6 million	Increased approx. 590% (or $2.2 million)
Working Capital	$1.6 million	Grew approx. 284% (or $1.2 million)
Equity	$6.8 million	Grew approx. 125% (or $3.7 million)

The company is signaling a shift toward a capital appreciation model supported by this treasury management, which is definitely a key point for investors looking beyond just insurance premiums. For context on the overall business supporting these segments, look at the recent top-line performance:

Period	Commission Income	Net Loss	Adjusted EBITDA
Q1 2025	$4.2 million	$1.7 million (down 68%)	$145,000 (Gain)
Q2 2025	$3.1 million	$2.7 million	Loss of $382,000
Q3 2025	$2.5 million	Not explicitly stated	Not explicitly stated

If onboarding for new agency partners takes 14+ days, churn risk rises, so operational speed is defintely critical for the RELI Exchange segment.

Reliance Global Group, Inc. (RELI) - Canvas Business Model: Cost Structure

You're looking at the core expenses Reliance Global Group, Inc. (RELI) faced in the third quarter of 2025 as they pushed their InsurTech transformation. Understanding these costs helps map where capital is being deployed right now, so let's break down the numbers from the Q3 2025 filings.

Salaries and Wages and Compensation

Personnel costs saw a significant jump compared to the prior year, driven heavily by equity incentives. Total salaries and wages for the quarter ended September 30, 2025, were reported at $3.9 million. This increase was primarily due to non-cash share-based compensation, which totaled approximately $2.7 million for the quarter. This non-cash element reflects the alignment of management incentives with long-term shareholder value creation. This was partially offset by the elimination of salaries related to the Fortman Insurance Services sale.

Direct Operating Expenses

The costs directly tied to generating insurance revenue were also notable:

• Commission expense for Q3 2025 was $1.0 million.
• General and administrative expenses were $1.1 million in Q3 2025.

The general and administrative increase was substantially driven by director non-cash equity awards, though this was partially offset by efficiencies from the OneFirm initiative and overall leaner operations.

Regarding technology, Reliance Global Group, Inc. continues to advance its RELI Exchange platform, which involves ongoing technology investments. While the company highlights these technology investments as key to sustainable, technology-driven profitability, a specific dollar amount for technology development and maintenance costs for the InsurTech platforms for Q3 2025 wasn't explicitly itemized in the provided data points.

Debt Servicing Cost Mitigation

A major financial action taken by Reliance Global Group, Inc. was the deleveraging of its balance sheet following the sale of Fortman Insurance Services. This move directly impacts future interest expense. The company deployed capital to decrease its long-term debt by approximately 50%. This debt reduction is projected to result in an annual reduction in principal, interest, and service fee payments of over $1.8 million annually. This is a substantial structural change to the cost base, moving from projected annual debt service payments of about $2.95 million down to $1.1 million.

Here's a quick look at the key Q3 2025 expense figures we have:

Cost Category	Q3 2025 Amount (USD)	Notes
Salaries and Wages (Total)	$3.9 million	Includes non-cash compensation.
Non-Cash Share-Based Compensation	Approx. $2.7 million	Portion of Salaries and Wages.
Commission Expense	$1.0 million	Slight increase influenced by market conditions.
General and Administrative Expenses	$1.1 million	Driven by director non-cash equity awards.
Annual Interest Expense Reduction	Over $1.8 million	Projected annual savings from debt paydown.

The reduction in debt service obligations by over $1.8 million annually significantly enhances the cash flow profile, which is a key action to support ongoing operations and technology scaling.

Reliance Global Group, Inc. (RELI) - Canvas Business Model: Revenue Streams

You're looking at how Reliance Global Group, Inc. (RELI) brings in the money right now, late in 2025. It's a mix of traditional insurance flows and newer tech-driven streams, which is defintely key to their current strategy.

The core insurance operations still drive a significant portion, though the mix is shifting. For instance, commission income from insurance sales totaled $2.5 million in Q3 2025. This was naturally lower than the prior year's Q3 figure of $3.4 million, largely because of the strategic divestiture of Fortman Insurance Services (FIS). To balance this, the Property and Casualty (P&C) segment is showing strength, having posted an 8% increase in Q2 2025. This growth in P&C revenue is a bright spot as they streamline their portfolio.

Beyond recurring commissions, Reliance Global Group, Inc. is realizing one-time gains from portfolio management. They completed the sale of Fortman Insurance Services (FIS) for $5 million in cash, monetizing that asset at an approximate $3 million gain, which was recognized in Q3 2025. This cash was immediately put to work, helping reduce long-term debt by approximately 50%.

The company is also actively building out new revenue channels through its technology focus. You see this with the launch of the new RELI Auto Leasing platform, which is designed to generate new commissions for RELI Exchange Agency Partners. Furthermore, the Digital Asset Treasury initiative is a forward-looking play for capital appreciation, with digital assets holding a reported fair value of $106,402 at the end of Q3 2025.

Here's a quick look at some of the key financial metrics related to these revenue activities as of the latest reports:

Revenue Component/Metric	Period/Date	Amount/Value
Total Commission Income	Q3 2025	$2.5 million
Gain on Asset Sale (FIS)	Q3 2025	$3 million
P&C Revenue Growth	Q2 2025	8% increase
Digital Asset Treasury Fair Value	Q3 2025 End	$106,402
Commission Income (Prior Qtr)	Q2 2025	$3.1 million

The revenue streams Reliance Global Group, Inc. is emphasizing include:

• Commissions from core insurance sales, though slightly lower year-over-year.
• The 8% Q2 2025 growth in the Property and Casualty (P&C) segment.
• Commissions generated via the new RELI Auto Leasing platform.
• The one-time $3 million gain from the Fortman Insurance Services divestiture.
• Anticipated capital appreciation from the Digital Asset Treasury.

Also, note that in Q3 2025, customer concentration was significant, with Priority Health accounting for 29% and BlueCross BlueShield for 25% of that quarter's revenue. Finance: draft the Q4 2025 revenue projection by January 15th.