Admitted Business Owner's Policy Program Specializing in Restaurants Now Available on First Connect

SAN FRANCISCO, April 17, 2024 /PRNewswire/ -- Rainbow, a leading provider of insurance solutions for restaurants, is thrilled to officially announce the launch of a partnership with First Connect, a digital platform designed to provide independent agents access to some of the nation's top carriers and MGAs,

Rainbow's broad, admitted appetite and customer service expertise provides an important step forward in First Connect's commitment to supporting independent agents, who in turn support small business owners, including restaurant owners and operators. By leveraging a modern digital experience, the First Connect platform provides a seamless avenue for agents to discover and procure a wide range of products and services for their insured clients.

"We are thrilled to be partnering closely with First Connect to bring more of our insurance solutions to the restaurant community," said Bobby Touran, CEO of Rainbow. "The market for insuring restaurants has changed so much in the past several years, and restaurant owners and their agents have unfortunately been left with fewer dependable options for the coverages they require to operate with peace of mind. Rainbow's mission is to solve that problem with a very broad appetite including establishments with up to 65% of sales coming from alcohol, and the First Connect platform allows us to reach more of those businesses through the agent community."

"Rainbow is a great addition to our growing roster of carriers with an appetite for insuring small businesses," said Aviad Pinkovezky, President of First Connect. "We've heard from our agents that they often struggle to find the right markets for restaurant risks, and that the marketplace is becoming more challenging every day. The deep specialization and expertise in insurance coverage for restaurants that Rainbow brings to First Connect agents is a valuable opportunity."

Agents on First Connect are able to enjoy many of the benefits that are unique to Rainbow:

• Technology-enabled Underwriting:
  • Rainbow's specialized underwriting expertise allows for precise evaluation of food and beverage business, and the company's AI-enabled continuous underwriting approach enables ongoing risk assessment for what is historically one of the commercial industry's trickiest classes of business to underwrite.
• Risk Management Incentives:
  • In a market where obtaining tailored insurance is increasingly difficult, Rainbow stands out by offering competitive premium credits for businesses demonstrating affinity memberships and robust risk management practices.
• Rainbow Rewards:
  • Rainbow's Rewards program extends its benefits to all policyholders, offering significant credits, lower premiums, and complimentary safety training resources to establishments committed to safe and proactive operations.

About Rainbow
Founded in 2022, Rainbow is a specialist managing general underwriter building tailored small business insurance programs, starting with restaurants. Through developing insurance products that reward small business owners for putting safety first, and evolve with their business' ups and downs, Rainbow is pioneering the insurance policy that provides peace of mind while also working to help prevent claims. Rainbow offers its agent and broker partners a seamless, instant quote-to-bind experience, and digital partners are able to integrate with Rainbow's powerful yet easy to use API to offer instant quoting to their customers. For more information on Rainbow, please visit www.userainbow.com.

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For media inquiries, please contact:

Julia Wilkinson
press@userainbow.com

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