RAinbow BlOG

In this episode of The Riches In The Niches Show, Bobby Touran, CEO and Co-Founder of Rainbow, a tech-enabled, highly specialized MGU making waves in the insurance industry. We cover everything from the power of niche specialization to building stronger partnerships between MGAs, MGUs, and independent agents.  If you're in the insurance business, you won't want to miss Bobby's game-changing insights on creating value through trust, expertise, and human relationships. Here’s what we dive into:

✅ Bobby's journey to building Rainbow and his vision for modern MGUs

✅ Why niche specialization is the fastest path to success for agencies and carriers alike

✅ The critical role agents play as "boots on the ground" in the underwriting process

✅ The key advantages of aligning technology with human expertise to improve customer experience

✅ How Rainbow is evolving restaurant insurance programs to meet today’s market challenges

✅ The biggest mistakes tech-enabled MGUs make when ignoring the power of relationships

✅ Why deep partnerships and trust are the future of insurance distribution

In today’s fast-paced world, beauty, wellness, and fitness professionals help their clients look and feel their best. At Rainbow, we believe in protecting the businesses that make this possible. That’s why we’re excited to introduce our new, specialized Businessowners Policy (BOP) program designed specifically for beauty salons, wellness centers, and fitness studios.

Tailored Coverage for Businesses That Care

Whether you run a nail salon, yoga studio, day spa, or a multi-location fitness brand, Rainbow’s Beauty, Wellness & Fitness BOP offers the flexibility and protection your business needs to thrive.

Eligible businesses include:

• Hair, waxing, and blow-dry salons
• Nail and threading salons
• Day spas offering non-invasive facials, massage, and electrolysis
• Body piercing studios that follow OSHA/local standards
• Fitness centers with instructor-led yoga, pilates, spin, and dance

We welcome new ventures (with 3+ years of prior experience), independent owners, franchises, and multi-location operators. The program offers comprehensive coverage options such as Business Owners Policy and Excess Liability, with customizable add-ons like Professional Liability, Employment Practices Liability Insurance (EPLI), and more. Notably, it includes admitted coverage for high-need services, even historically non-admitted risks like body piercing.

Scalable and Efficient Insurance Solutions

Rainbow’s approach leverages proprietary technology to synthesize public data in real time, enabling “continuous underwriting” for more accurate and adaptive risk assessment. This allows for:

• Instant quote-to-bind and real-time underwriting decisions via Rainbow’s digital platform
• Suitability for both single- and multi-location operators
• Support from experienced underwriters and support staff

“Helping agents with their specialty commercial insurance needs is the reason why Rainbow exists,” said Bobby Touran, co-founder and CEO of Rainbow. “In an industry where insurance is a no-brainer, we’re proud to bring this proprietary intelligence—and a better overall experience—to agents and their business owners in one of the fastest growing segments of the economy.”

Partnering with Local Agents

Rainbow partners with local agents to offer smart, streamlined insurance tailored to the unique risks of beauty, wellness, and fitness establishments. States are constantly being added to Rainbow’s Beauty & Wellness program, stay up to date on the latest states here: https://www.userainbow.com/availability

For more information or to get appointed, visit userainbow.com/get-appointed.

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Rainbow's Business Owner’s Policy (BOP) and Excess Liability (XS) for restaurants is live in Iowa! 

Here at Rainbow, we take our mission to build a superior restaurant BOP just as seriously as Iowa takes their contributions to food greatness! You may know Iowa's claim to corn fame, but did you know that Iowa is home of the world's ice cream capital? Le Mars, Iowa has earned this title as the home of Blue Bunny ice cream 😍

Rainbow helps restaurant owners effectively navigate the rises and falls of the industry and make informed decisions about insurance coverage, and is 100% built for restaurants. 

Rainbow agents offer restaurant owners: 

• Diverse payment plan options that fit every restaurant’s needs
• Discounted premiums for demonstrating safe business practices
• Credits for affinity memberships that promote improved loss control
• Free access to training and safety resources

Rainbow agents empower restaurant owners to evolve their operations to address the new set of risks present in the space and navigate the shift to digital technology. Rainbow can work with a restaurant owners’ existing agent or refer them to one of our preferred restaurant experts. 

If you’re an agent looking to partner with Rainbow, get appointed here. You’ll be connected with our Agency Success Team!

Admitted Businessowner’s Policy Program Now Available to Independent Agents Across Three New States

RSAN FRANCISCO--(BUSINESS WIRE)--Rainbow, the digitally-enabled managing general underwriter specializing in tailored small business insurance products, is excited to announce the launch of its admitted restaurant insurance program in New Jersey, Virginia, and Iowa. This expansion strengthens Rainbow’s footprint across critical U.S. markets to work with more agents in key geographic regions such as the Tri-State, Mid-Atlantic, and the Upper Midwest. Read our latest press release here!

In this episode of InsurTech Talk, host Gilad Shai sits down with Bobby Touran, CEO and co-founder of Rainbow, to explore how Rainbow is reshaping the landscape of commercial insurance. Bobby shares his journey from venture capital into insurance, and how that perspective helped him identify a massive opportunity in the underserved small business market—starting with restaurants.

The discussion dives into Rainbow's tech-enabled MGA model, its commitment to underwriting discipline, and why empowering independent agents is a core part of the company’s distribution strategy. Bobby emphasizes the importance of balancing automation with human insight and explains why vertical specialization leads to better product-market fit in the insurance world.

Whether you're an agent, insurtech enthusiast, or industry veteran, this episode offers sharp insights into how thoughtful innovation can deliver real value in complex, highly regulated markets.

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Rainbow's Businessowner’s Policy (BOP) and Excess Liability (XS) for restaurants is live in New Jersey! 

Here at Rainbow, we take our mission to build a superior restaurant BOP just as seriously as New Jersey takes their contributions to food greatness! You may know New Jersey's claim to hoagie, diner, and tomato pie fame, but did you know that New Jersey is one of the top cranberry contributors in the world? Thanks NJ!

Rainbow helps restaurant owners effectively navigate the rises and falls of the industry and make informed decisions about insurance coverage, and is 100% built for restaurants. 

Rainbow agents offer restaurant owners: 

• Diverse payment plan options that fit every restaurant’s needs
• Discounted premiums for demonstrating safe business practices
• Credits for affinity memberships that promote improved loss control
• Free access to training and safety resources

Rainbow agents empower restaurant owners to evolve their operations to address the new set of risks present in the space and navigate the shift to digital technology. Rainbow can work with a restaurant owners’ existing agent or refer them to one of our preferred restaurant experts. 

If you’re an agent looking to partner with Rainbow, get appointed here. You’ll be connected with our Agency Success Team!

Dive into the future of underwriting with Bobby Touran, CEO, and Co-Founder of Rainbow, at ITC Vegas October 15-17th!

In his session, "Underwriting Reinvented: Embracing Innovation for Smarter Risk Assessment ," Bobby and the panel delves into innovative tools and methodologies that enhance risk assessment, streamline workflows, and improve accuracy. Attendees will learn how to leverage data analytics, AI, and machine learning to make more informed underwriting decisions. Discover strategies for integrating these advancements to drive efficiency and competitive advantage. Join us to uncover the future of underwriting and learn how to embrace innovation for smarter, more effective risk management in the insurance industry.

With over 15 years of experience in insurance and software development, Bobby spearheads Rainbow, a tech-enabled specialty insurance MGU revolutionizing insurance programs tailored for specific industry verticals, starting with restaurants. Rainbow's innovative approach to program administration and underwriting seamlessly integrates software, data, and human expertise to craft superior insurance products.

Join Bobby at ITC Vegas to gain insights into leveraging modern technologies for data-driven underwriting and discover how Rainbow is shaping the future of commercial insurance. See you in Vegas!

Explore 2024 Federal and State labor law changes in the United States. Minimum wage updates, workplace violence reporting, and more. Stay compliant!

Federal Updates‍

EEOC Know Your Rights: Workplace Discrimination is Illegal Effective 06/2023

Fair Labor Standards Act (FLSA) - Federal Minimum Wage Effective 05/2023

EEOC Know Your Rights: Workplace Discrimination is Illegal Effective 10/2022

Family and Medical Leave Act (FMLA) Effective 01/2015

2024 Labor Law Updates‍

Alaska Labor Law Poster
Alaska Minimum Wage Effective January 1, 2024

Arizona Labor Law Poster
Arizona Minimum Wage Effective January 1, 2024

California Labor Law Poster
Unemployment Insurance Effective June 5, 2024

California Minimum Wage Effective January 1, 2024

Discrimination Notice Effective January 1, 2024

CALOSHA – Health and Safety Protection Effective January 1, 2024

Paid Sick Leave Notice Effective January 1, 2024

Colorado Labor Law Poster
Discrimination in Employment Effective July 1, 2024

Colorado Minimum Wage Effective January 1, 2024

Connecticut Labor Law Poster
Connecticut Minimum Wage Effective January 1, 2024

District of Columbia Labor Law Poster
EEOC Know Your Rights: Workplace Discrimination is Illegal Effective July 18, 2024

Fair Labor Standards Act (FLSA) - Federal Minimum Wage Effective July 18, 2024

Minimum Wage Effective July 1, 2024

Paid Family Leave Effective February 1, 2024

Universal Labor Law Effective January 1, 2024

Florida Labor Law Poster
Florida Equal Opportunity is the Law Effective September 1, 2024

Georgia Labor Law Poster
Equal Pay for Equal Work Act Effective September 1, 2024

Guam Labor Law Poster
Guam Minimum Wage Effective August 21, 2024

Hawaii Labor Law Poster
Unemployment Insurance Effective February 20, 2024

Illinois Labor Law Poster
Paid Leave Effective February 1, 2024

Illinois Minimum Wage Effective January 1, 2024

Paid Leave Effective January 1, 2024

VESSA - Victims Economic Security and Safety Act Effective January 1, 2024

Indiana Labor Law Poster
Veteran's Benefits and Services Effective July 1, 2024

Kansas Labor Law Poster
Worker's Compensation Effective June 1, 2024

Kentucky Labor Law Poster
EEOC Know Your Rights: Workplace Discrimination is Illegal Effective September 9, 2024

Louisiana Labor Law Poster
Earned Income Credit Effective September 30, 2024

Massachusetts Labor Law Poster
Workers' Compensation Effective September 1, 2024

Paid Family and Medical Leave Effective January 1, 2024

Maine Labor Law Poster
Workers Compensation Effective February 1, 2024

Maine Minimum Wage Effective January 1, 2024

Regulation of Employment Effective January 1, 2024

An Act to Protect Employee Freedom of Speech Effective January 1, 2024

Veterans Benefits and Services Effective January 1, 2024

Maryland Labor Law Poster
Maryland Minimum Wage and Overtime Law Effective January 1, 2024

Michigan Labor Law Poster
Michigan Minimum Wage Effective January 1, 2024

Discrimination Effective January 1, 2024

Discrimination Effective January 1, 2024

Minnesota Labor Law Poster
Minnesota Minimum Wage Effective January 1, 2024

Veterans Benefits and Services Effective January 1, 2024

Missouri Labor Law Poster
Missouri Minimum Wage Effective January 1, 2024

Mississippi Labor Law Poster
Unemployment Insurance Effective May 1, 2024

Victims of Domestic Violence Effective July 1, 2024

Nevada Labor Law Poster
Rules to be Observed by Employers Effective July 1, 2024

Minimum Wage Bulletin Effective July 1, 2024

Daily Overtime Bulletin Effective July 1, 2024

New York Labor Law Poster
Discrimination Notice Effective June 17, 2024

New York Minimum Wage Effective January 1, 2024

Ohio Labor Law Poster
Ohio Minimum Wage Effective January 1, 2024

Oklahoma Labor Law Poster
Unemployment Insurance Effective June 5, 2024

Oregon Labor Law Poster
Captive Audiences Effective July 1, 2024

Oregon Minimum Wage Effective July 1, 2024

Notice to Agricultural Workers Effective July 1, 2024

Breaks & Overtime Effective July 1, 2024

Equal Pay Law Effective July 1, 2024

OFLA - Oregon Family Leave Act Effective July 1, 2024

Oregon Sick Time Law Effective July 1, 2024

Victims of Domestic Violence Effective July 1, 2024

Occupational Safety and Health Protection Effective April 1, 2024

Rhode Island Labor Law Poster
Rhode Island Minimum Wage Effective January 1, 2024

Rhode Island Minimum Wage Effective January 1, 2024

South Dakota Labor Law Poster
Reemployment Assistance Effective March 1, 2024

Tennessee Labor Law Poster
Payday Notice and Child Labor Laws Effective June 17, 2024

Texas Labor Law Poster
Reporting Workplace Violence Effective January 8, 2024

Utah Labor Law Poster
Unemployment Insurance Effective April 1, 2024

Vermont Labor Law Poster
Vermont Minimum Wage Effective January 1, 2024

Virginia Labor Law Poster
VOSH - Virginia Health & Safety Protection

Unemployment Insurance Effective April 2, 2024

VOSH - Virginia Health & Safety Protection

Wisconsin Labor Law Poster
Unemployment Insurance Effective February 20, 2024

Washington Labor Law Poster
Paid Family and Medical Leave Effective January 1, 2024

‍West Virginia Labor Law Poster
Unemployment Insurance Effective September 1, 2024

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*above changes pulled from the following link.

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