We started Rainbow with a mission to improve small commercial insurance, and by extension improve the operations of local entrepreneurs. We set out to develop customer-centric insurance that rewards operators for putting safety first, with pricing that automatically evolves with a business’s natural ups and downs. Our first offering is an admitted business owner’s policy (BOP) tailored specifically for the restaurant industry. 

Overall, our approach builds on 4 key pillars:

• Focusing on preventing and avoiding claims, because claims aren’t good for anyone.
• Modernizing insurance by redeveloping the core parts of an insurance transaction, and improving affordability for insureds (business owners) through tailored coverages.
• Empowering small businesses with the resources and guidance to run a safer business, and rewarding them for taking steps to improve their safety.
• Being the easiest and most pleasant market for the agents we work with.

We strive to offer the best end-to-end experience in the industry for small commercial insurance, and our software engineering goes well beyond quote, bind and issue capabilities. Under the hood, our software delivers 2 unique features to all of our customers - with claims prevention and tailored coverage always top of mind:

1. Rainbow Rewards

We believe that well-run businesses are that way because of strong management, and we want to reward these businesses for selecting Rainbow. Policyholders that choose to participate in Rainbow Rewards complete a simple self-inspection of their premises in exchange for a policy credit and complimentary access to helpful training and safety materials. Behind the scenes is our proprietary form of loss control, which has been built to help avoid losses and is a cornerstone of our day-to-day thinking. 

2. Pay-As-You-Go

Observing the popularity of Pay-As-You-Go Workers’ Compensation, we have launched the industry’s first Pay-As-You-Go BOP — an annual policy that flexes the monthly premium up or down based on sales data we obtain from the business’s POS or accounting provider. So if a business has a slower month, it seems reasonable that they would owe less in insurance premium for that same time period. The end result is peace of mind for the business owner that their insurance is adaptive to their needs, and less administrative work for the policyholder and their agent.

As with any successful business, everything starts with great people. With the support of world-class investors and partners, Rainbow’s team of experienced insurance and technology operators has been quietly building software and insurance products for almost 18 months now, and we can’t wait to hear what you think about everything! 

We are Rainbow! 

Shalom, Jamie, Bobby

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