The restaurant insurance market has undergone significant changes in recent years, leaving restaurant owners and their agents with fewer reliable choices for the coverage they need to operate confidently.
The news follows on from Rainbow’s investment announcement earlier this year, when it raised US$12 million in seed funding from notable investors, including Caffeinated Capital, Altai Ventures, Zigg Capital, 8VC, Buckley Ventures, Habitat Partners, and Arch Capital Group Ltd.
Speaking about the partnership, Bobby Touran, CEO of Rainbow, said: “We are thrilled to be partnering closely with First Connect to bring more of our insurance solutions to the restaurant community. 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.”
Aviad Pinkovezky, president of First Connect, also commented, saying: “Rainbow is a great addition to our growing roster of carriers with an appetite for insuring small businesses. 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.”
He added: “The deep specialisation and expertise in insurance coverage for restaurants that Rainbow brings to First Connect agents is a valuable opportunity.”
