The danger in writing all small commercial lines is becoming a generalist, says Bobby Touran, who a few years ago founded Rainbow, a restaurant-focused MGU insuretech. Rainbow distributes through independent agents—who he calls “critically” important. Listen as Bobby unpacks three strategic concepts behind Rainbow. “We wanted to be very specialized in classes of business,” he says. “We felt restaurants were a distressed category within small commercial. They were still reeling from COVID, lock-downs and inflation.” He observed other insuretechs taking “a very binary view on the role of technology: a tech-only or human-only experience. We didn’t see examples where purpose-built software was combined with human expertise.” That includes underwriters “making good judgement calls at the margins. We wanted to keep humans in the loop.” Bobby also comments on a specific behavior of successful agents he’s met.

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