Agency customers now have more coverage options for businesses that offer food and alcohol
Leading integrated technology solution provider, Bold Penguin, recently announced a new partnership with Rainbow, the MGU with a program that is 100% built for restaurants. Rainbow is the newest market to be added to the Bold Penguin Terminal. Their business owner’s policy (BOP) and excess liability coverages are available to direct and sub-appointed agents in the Bold Penguin Terminal across the country, including in major states like California and Texas.
Adding Rainbow to the Terminal panel provides agency customers with access to a broader selection of coverage options for businesses that offer food. This partnership increases market access for the 24,000+ Terminal platform users, streamlining their quote and bind process, and helps them bind more premium. Terminal platform users can simultaneously quote multiple products with multiple carriers using one universal application to find the best coverage in minutes instead of hours or days.
“As the restaurant industry has evolved, so have the demands to protect their unique risks. From fast-casual restaurants to ghost kitchens, and wine bars to new ventures, Rainbow understands what these businesses need to get protected. We are pleased to announce this partnership that will benefit our agents and the restaurant entrepreneurs they serve,” said Nicole Farley, Vice President of Carrier Operations at Bold Penguin.
Rainbow uniquely combines advanced risk selection technology coupled with an experienced team of underwriters to offer a broader appetite for food service businesses with up to 65% alcohol, new ventures, wine bars, brew pubs, and more, all on an admitted basis and including liquor liability and employment practices liability insurance (EPLI). Everything is delivered with the speed of technology, plus the human touch of experienced commercial lines experts.
"We’re thrilled to partner with Bold Penguin to expand Rainbow's reach and bring our innovative underwriting solutions to more agents. This collaboration reflects our commitment to simplifying access to tailored insurance products and empowering agents with the tools they need to better serve their clients. By leveraging Bold Penguin’s extensive network and platform, we’re able to connect with more businesses, supporting them with Rainbow's specialized, data-driven approach to underwriting. Together, we’re making insurance smarter and more accessible," said Bobby Touran, Co-Founder and Chief Executive Officer of Rainbow.
Founded in 2022, Rainbow is a specialist managing general underwriter that builds insurance programs tailored to small and medium businesses. The company’s flagship restaurant program focuses on rewarding small business owners who prioritize safety. Through seamless quote-to-bind functionality and best-in-class customer service and underwriting, Rainbow makes it easy for agents and digital partners to offer instant quoting for small business clients. For more information, please visit www.userainbow.com.
Bold Penguin is a leading integrated digital solution platform dedicated to simplifying small commercial insurance. Their technology makes the quote and bind process quick, effortless, and profitable for all parties - agents, brokers, and carriers. Bold Penguin’s innovative product suite has digitized and transformed a slow, manual process resulting in reduced costs, increased efficiency, and better overall outcomes. For more information, please visit www.boldpenguin.com.
While Rainbow is the latest addition to the Terminal, the Bold Penguin product suite offers much more. It serves agents, carriers, networks, and channel partners through three additional products, including the Exchange, Storefront, and Analytics.
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Contact Bold Penguin with questions about accessing Rainbow insurance for restaurants through the Terminal, channel partnerships, or other ways to work together.
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