Source: Businesswire
“As we continue to prove our thesis for scalable, software-driven-underwriting across a growing portfolio of specialized insurance programs, we’re thrilled to be deepening our partnership with Zigg, a firm that shares our vision for a differentiated approach to profitable insurance underwriting with endless potential,” said Bobby Touran, CEO and Co-founder of Rainbow. “This new capital will allow us to accelerate our expansion into additional verticals in service of growing demand from our agent and distribution partners, all while continuing to innovate our proprietary technology and attracting the best talent to our team.”
Rainbow’s technology platform provides agents and brokers with a seamless quote-to-bind experience, while rewarding policyholders for prudent operational practices. The company’s data-driven “continuous underwriting” framework enables real-time portfolio assessment, improving underwriting accuracy and decreasing loss ratios.
“As our firm refined its broad insurtech thesis, we identified that Rainbow has built the most compelling technology platform to serve the restaurant vertical, as well as the SME sector,” said Ryan Orley, General Partner of Zigg Capital. “Moreover, the team Bobby, Shalom, and Jamie have assembled at Rainbow exemplifies the profile Zigg seeks to back – efficient, fast moving, domain expert, and customer centric. Rainbow’s custom-built software to serve its various constituencies is powerful and the company’s growth is among the fastest we have observed for a B2B offering.”
Read the full article: https://www.businesswire.com/news/home/20250115735260/en/Rainbow-Announces-8-Million-Series-A-Funding-to-Expand-Small-Business-Insurance-Offerings
