Reliance Global Group, Inc., a U.S. insurtech company focused on acquiring and supporting independent insurance agencies through technology-based platforms, has announced a number of senior appointments to pursue initiatives involving artificial intelligence across its insurance operations and product development activities.
The company has appointed Judah Korman as chief operating officer, Zack Wilder as chief technology officer, and Mordy Beyman as executive vice president. Reliance Global Group also announced that two more engineers have joined its newly formed artificial intelligence product development team under Wilder’s leadership.
The appointment of Insurtech senior vice president Moshe Fishman, previously disclosed, will round out the team overseeing the company’s artificial intelligence-related initiatives.
Reliance Global Group said the expanded leadership team will support two focus areas: developing insurance products around artificial intelligence and the continued development of its insurance agency acquisition strategy through the use of artificial intelligence technology. The company said the plans build on its existing network of acquisition agents and its proprietary technology platform.
Commenting on the appointments, Ezra Beyman, CEO, Reliance Global Group, said: “Reliance was founded on the belief that insurance, one of the world’s largest and most entrenched industries, is long overdue for a fundamental rethink. We started by embedding technology into the agency model, and the results validated that thesis. Now we’re taking it a step further: aggregating acquisitions with an AI backbone and investing in insurance products that we believe AI is making possible for the first time. Judah, Zack, Mordy, Moshe and the engineering team they are building are the right people to lead this chapter.”
Reliance Global Group said artificial intelligence is expected to play a central role in two elements of its strategy. The first focus is on acquiring independent insurance agencies and integrating them into a unified operating platform. The company said the platform is designed to automate administrative processes, support underwriting activities and improve the operational efficiency of acquired businesses.
The second area involves creating insurance products specifically with AI capabilities in mind. The products are expected to incorporate artificial intelligence into areas such as risk assessment, pricing, customer engagement and policy management, Reliance Global Group said.
The company said it views the two initiatives as complementary. Reliance Global Group said agents acquired through its integration strategy have access to customer portfolio, carrier relationships and operational data, while its technology platform and future products are designed to improve the performance and competitiveness of these agents.
Reliance Global Group also said it believes the use of artificial intelligence can help solve some of the operational challenges traditionally associated with insurance agency integration. The company said its approach is designed to simplify integration processes, simplify back-office functions and provide deeper insights into network operations.
As COO, Korman will oversee the expansion of Reliance Global Group’s operating model across its agent network and technology platform. The company noted that Koeman has experience building and scaling technology businesses, as well as a background in private equity and platform operations.
Wilder joins the company as chief technology officer after holding engineering leadership roles at Coinbase and Capital One. Reliance Global Group said Wilder will oversee the development of technology infrastructure that supports its agent acquisition platform and planned AI-focused insurance products. His previous experience includes working in financial technology and security systems within regulated industries, the company added.
Wilder will also lead Reliance Global Group’s newly formed artificial intelligence product development team. According to the company, the group’s initial work will focus on building out its agency platform and the underlying AI infrastructure required for future insurance products.
Beyman has been appointed executive vice president, formalizing a leadership role that Reliance Global Group says he has actually held for some time. The company said Beiman has been involved in shaping its long-term strategy, including technology-related investments and the development of its artificial intelligence roadmap. In his new role, he will oversee the coordination of strategic initiatives, technology development and leadership execution.
Reliance Global Group said the appointments are aimed at strengthening its execution capabilities in technology development, operational integration, product innovation and artificial intelligence business processes.
Discussing the company’s strategy, Korman said: “Insurance distribution has been resistant to the operational transformation technology has brought to other financial services segments. What Reliance has built is the true foundation of agent networks, carrier relationships and the AI platform that now centralizes and amplifies it all. AI-driven aggregation is designed to be a very different proposition from the traditional integration play. The economics are designed to compound differently, the integration timelines are designed to be compressed, and the data advantage is amplified with each acquisition.”
Wilder added: “I spent several years at Capital One building infrastructure for an industry that most thought was too complex and too regulated to change quickly. The insurance industry is in a similar position today, with AI now mature enough to do more than just automate workflows. It can reimagine what insurance products look like, how they are priced and how they reach customers. That’s what we’re building at Reliance, to start with a solid foundation and get ahead of the rest of the industry.”
“I’ve been involved in building this vision for some time, and what excites me most is that the timing is right,” Beyman said. “The AI tools available today are really capable of changing how insurance is distributed and products are built. Reliance has the carrier relationships, a network of licensed agents across the U.S., and now the team to execute on this plan. My focus is on making sure this plan aligns with the ambition behind it.”
