What Rainbow does

Rainbow (legal entity: Rainbow MGA Insurance Agency, Inc.) is a digital Managing General Underwriter that designs and distributes specialty commercial insurance for small businesses in the United States, with its core offerings organized around three product lines: a Restaurant Business Owner's Policy, a Commercial Real Estate Lessor's Risk Only Commercial Package Policy (up to $15M TIV per building), and a Beauty & Wellness BOP, with Excess Liability, Liquor Liability, Cyber, and Professional Liability available as add-ons. Founded in San Francisco in 2022 and led by CEO Bobby Touran alongside co-founders Jamie Hankinson (Head of Product) and Shalom Yiblet (Head of Technology), Rainbow operates exclusively through independent insurance agents rather than direct-to-consumer and supports those agents with an API-powered digital workflow and a self-service portal (app.userainbow.com) that delivers quote decisions in minutes, with full visibility into underwriting rationale and a human underwriter assigned to every account.

The underlying platform is built in-house by a roughly 50-person team spanning engineering, underwriting, product, actuarial, agency experience/onboarding, claims, and regional sales, with dedicated Regional Sales Managers covering every U.S. state. Underwriting is data-driven — combining location, TIV, sales, prior claims, crime scores, and natural-hazard risk — and is paired with a creative appetite that includes risks other carriers decline (claims history, high-liquor sales, BYOB, ghost kitchens, cannabis tenants, older/vacant buildings). Coverage is sold on a quote-based, risk-tailored basis with annual billing; Rainbow Rewards overlays a risk-prevention program that discounts premiums for safe practices.

Rainbow monetizes as an MGA, earning commission on premiums it places on behalf of carrier partners (whose identities are not publicly disclosed). The admitted restaurant BOP is active in nearly 40 states, while a new non-admitted BOP launched in California and Texas in November 2025 with planned nationwide rollout by early 2026. The company has raised roughly $20 million to date — a $12M seed in January 2024 including Arch Capital Group Ltd., and an $8M Series A led by Zigg Capital announced in January 2025 — to fund vertical and geographic expansion.

Name

Rainbow

Legal name

Rainbow MGA Insurance Agency, Inc.

Website

https://userainbow.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

Rainbow is a digital Managing General Underwriter providing specialty small-business insurance (restaurant, commercial real estate, and beauty & wellness BOPs) distributed exclusively through independent insurance agents via an API-powered quoting platform and agent self-service portal.

Ownership category

akta.pro rank

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Managing General Underwriter (MGA) commission on premiums: Rainbow operates as a digital Managing General Underwriter, earning commission/compensation on the premiums of insurance policies it places on behalf of one or more carrier partners. 'Rainbow may act as an agent for one or more insurance carriers and receive compensation based on the premiums for the insurance policies each sells.' Core products: Restaurant BOP and Excess Liability, Commercial Real Estate Lessor's Risk Only CPP, and Beauty & Wellness BOP/Professional Liability.
2. Agent appointment and portal subscription access: Independent agents must be formally appointed by Rainbow to access the portal, quote, and bind policies; the appointment, portal access, and ongoing platform usage function as a recurring relationship enabling Rainbow to capture downstream premium commissions.
3. Non-admitted excess & surplus (E&S) capacity: Non-admitted BOP for restaurants launched in California and Texas (Nov 2025) with planned Florida and 50-state rollout by early 2026, providing additional premium-generating capacity beyond the admitted program and serving risks that do not fit standard admitted markets.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

Rainbow is a tech-enabled Managing General Underwriter (MGA) that places specialty commercial insurance on behalf of carrier partners, earning commission on premiums. It underwrites and distributes Business Owner's Policies and Commercial Package Policies tailored to small businesses in the restaurant, commercial real estate lessor's risk, and beauty & wellness verticals. All business is distributed exclusively through independent insurance agents via an API-powered digital quoting portal.

Product overview

Rainbow operates a single unified digitally-enabled managing general underwriter (MGA) platform — branded "Rainbow Insurance" — that distributes small-business commercial insurance exclusively through independent agents. The platform is organized as a core underwriting engine that powers three core product lines: Restaurant Insurance (Restaurant BOP), Commercial Real Estate Insurance (LRO / Commercial Package Policy), and Beauty & Wellness Insurance (BOP), with shared add-on modules including Excess Liability, Liquor Liability, Professional Liability, and an E&S BOP for non-admitted placements. Operational modules wrap the core products: the Rainbow Agent Portal (full self-service quoting, policy tracking, and month-over-month change monitoring), Rainbow Rewards (a risk-prevention program offering premium discounts, affinity credits, and safety training), and the Rainbow API (which powers the API-driven digital quoting workflow). Coverage is available state-by-state (with most lines actively sold across 40+ states and an admitted/non-admitted split for restaurants in CA and TX) and is delivered through a tech-enabled underwriting approach that combines proprietary data signals with a dedicated human underwriting team.

Differentiator

Problem solved

Functional benefit

Products and services

• Restaurant Business Owner's Policy (BOP) A tech-enabled Business Owner's Policy built specifically for restaurants that bundles general liability and property coverage with industry-specific add-ons, including Excess Liability, Liquor Liability (up to 65% liquor sales), Employment Practice Liability, Cyber Liability, Tenant's Liability, Spoilage, Business Interruption, Equipment Breakdown, and Utility Service Interruption. Distributed exclusively through independent agents.
• Commercial Real Estate Insurance (Lessor's Risk Only / Commercial Package Policy) A Lessor's Risk Only Commercial Package Policy for owners of single- and multi-tenant commercial properties (restaurants, bars, retail, office, mixed-use, fitness, healthcare, pet services, schools/daycare, grocery, cannabis, vacant buildings) with up to $15M TIV per building. Includes Personal & Advertising Injury, Damage to Premises Rented, Per Location Aggregate, HNOA, Assault & Battery, Additional Debris Removal, Utility Services, Outdoor Signs, and Ordinance or Law, with Excess Liability available.
• Beauty & Wellness Insurance (BOP) A Business Owner's Policy covering hair and nail salons, fitness studios, gyms, yoga studios, day spas, barber shops, lash/brow studios, dance/Pilates/spin/barre studios, and body piercing, with Professional Liability available by endorsement across eligible class codes and Excess Liability available.
• Non-admitted (E&S) Restaurant Business Owner's Policy An Excess & Surplus lines Business Owner's Policy for restaurants providing non-admitted capacity for risks that do not fit standard admitted carriers. Launched in California and Texas in November 2025 with a planned national rollout by early 2026, complementing the existing admitted restaurant program active in nearly 40 states.
• Rainbow API A public API that powers Rainbow's digital insurance workflow, enabling automated quoting and integration with external systems for appointed independent agents.

Quantifiable outcome

• Restaurant BOP expanded from 8 states (Jan 2024) to nearly 40 states admitted (Nov 2025) with non-admitted BOP launch in CA and TX; planned all-50-state presence by early 2026.
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature6 records

Partnerships

One partnership is on record.

• Carrier partners (unnamed)operational backboneOEM/ Whitelabel/ Licensing PartnerRainbow MGA Insurance Agency, Inc. 'may act as an agent for one or more insurance carriers and receive compensation based on the premiums for the insurance policies each sells,' indicating a carrier-partner relationship under which Rainbow places and services policies but does not carry the underwriting risk itself. Carrier identities are not disclosed in the public sources.

Scale indicators8 records

Recent moves10 records

Expansion highlights7 records

Broad incumbents

• Hiscox USA: Hiscox is an established specialty commercial insurer and a leader in small-business BOP for restaurants, retailers, and professional services. It overlaps with Rainbow's vertical and product set but operates as a carrier with broader portfolios and direct plus broker distribution.
• Burns & Wilcox: Burns & Wilcox is a major specialty insurance MGA/wholesaler distributing commercial lines to retail agents. It serves overlapping restaurant, CRE, and beauty/wellness risk classes but with a traditional wholesale model rather than a digital, API-first agent portal.
• Amwins: Amwins is the largest US specialty wholesale distributor and MGA, with broad product and vertical coverage. It is not a direct competitor in Rainbow's small-business agent-only niche, but a major incumbent across the same restaurant, CRE, and beauty/wellness placement channels.

Direct peers

• CoverWallet: CoverWallet (now part of Aon) is a digital small-business commercial insurance platform providing online quoting for BOP and specialty lines, comparable to Rainbow as a tech-enabled distributor of small-business policies.
• Thimble: Thimble is an insurtech MGA selling small-business liability insurance on a flexible, short-term basis via digital channels — a tech-enabled MGA competing for the same underserved small-business segment, though more direct-to-consumer than agent-led.
• Society Insurance: Society Insurance is a mutual specialty carrier with deep restaurant and food-service underwriting expertise, competing head-to-head with Rainbow for restaurant BOP and liquor-liability business through independent agents.
• biBERK (Berkshire Hathaway): biBERK is Berkshire Hathaway's digital small-business commercial insurance platform with a heavy restaurant and food-service focus, selling BOP and workers' comp online — directly overlapping Rainbow's restaurant appetite and digital quoting approach.
• Coterie Insurance: Coterie is a tech-enabled MGA distributing small-business commercial insurance through appointed independent agents — the closest direct analog to Rainbow's agent-only, API-powered MGA model serving restaurants and small businesses.
• Next Insurance: Next Insurance is a digital MGA selling small-business commercial insurance (including restaurants) with an API and tech-led workflow; it competes for the same small-business underwriting pool, with broader direct-to-consumer distribution alongside agent channels.
• Embroker: Embroker is a digital commercial insurance platform focused on small and mid-sized businesses, using technology to streamline underwriting and policy management — overlapping with Rainbow's tech-led approach to specialty commercial lines.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/UseRainbow
• LinkedInlinkedin.com/company/userainbow

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds3 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rainbow