Petplan acquired by equity firmOctober 3, 2019Petplan has been acquired by global private equity firm Warburg Pincus for an undisclosed amount.
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Embrace Pet Insurance launches scholarship for veterinary technician studentsApril 12, 2019Embrace Pet Insurance is awarding three veterinary technician students $1,000 scholarships as part of its Veterinary Technician Student Scholarship Program for the 2019-2020 school year. "Embrace is thrilled to be supporting the veterinary community by offering these scholarships," says its director of claims, Jenna Mahan, RVT. "The impact veterinary technicians have on the health and well-being of our pets can't be overstated. Our hope is each scholarship gets a lucky student closer to their goal of a career as a veterinary technician." To qualify, students must: • be 18 years of age or older; • be a U.S. citizen; • have a GPA greater than 3.0; and • be enrolled in a veterinary technician program accredited by the American Veterinary Medical Association (AVMA). Students must submit a 500-word essay on why they want to work in the veterinary industry and how their work will make a difference for the pet population in their area. Recent transcripts and proof of the student's enrollment in an accredited veterinary technician program are also required. To apply, students must complete the online application and attach their essay, transcripts, and proof of enrollment. The deadline for applications …
CBD and hemp product claims spike by 300 percent, says TrupanionApril 11, 2019Pet insurance claims for cannabidiol (CBD) and hemp products increased by 300 percent between 2017 and 2018. This is according to Trupanion, which says it has seen a large increase in submitted claims relating to CBD products over the past six years. The insurance company found more than 20 percent of Americans were living in states where recreational marijuana use was legal by 2017. This is up from five percent before California, Massachusetts, and Nevada were added to the list of states where it's legal. Based on Trupanion's data, the U.S. states with the most claims for CBD are: 1) Washington 2) New Jersey 3) Florida 4) New York There is an abundance of anecdotal evidence supporting the benefits of CBD and hemp products to pets, but little formal research. Tetrahydrocannabinol (THC) is toxic to pets, causing balance problems, irregular heartbeat, incontinence, or worse. Inhalation by second-hand smoke can be dangerous too, as well as edible forms of THC. The top conditions pet owners use CBD or hemp for their pets are seizures, musculoskeletal issues, such as arthritis and hip dysplasia, cancer, and behavioral issues, like anxiety.
Synchrony acquires Pets Best to expand CareCredit platformMarch 12, 2019Pets Best will now operate under Synchrony's CareCredit to offer pet parents more options to pay for veterinary care. "With Pets Best, we now have unique insight into the fast-growing pet health insurance market and can offer pet owners more choices for their pet's care," says CareCredit CEO, Beto Casellas. "This acquisition will further strengthen our strong veterinary relationships by giving veterinarians the ability to offer comprehensive financial options and a seamless customer experience." Pets Best has more than 125,000 pet health insurance policies, more than one million claims processed, and payouts of $200 million in claims. "CareCredit has unmatched expertise with consumer financing in the veterinary industry, and their digital-first, customer-focused culture perfectly complements our priorities," says Pets Best president, Chris Middleton. "Joining forces with CareCredit, we can quickly scale our offerings and provide a full suite of financing options to our customers, benefiting veterinarians, pet parents, and ultimately pets for the long term." As a result of the acquisition, CareCredit will offer consumers comprehensive care for their pets by merging financing and insurance options.
Pet obesity rates continue to rise in the U.S.January 3, 2019Pet obesity has increased in the U.S. for the eighth consecutive year, according to pet insurance provider Nationwide.
Trupanion hits half million pet milestoneOctober 24, 2018Pet insurance provider, Trupanion, has insured its 500,000th pet.
Five trends that will double the U.S. pet health insurance market by 2022October 5, 2018 The U.S. pet health insurance industry, estimated at slightly over $1 billion in 2017, will nearly double to reach $2 billion by 2022, according to Rockville, Md.-based Packaged Facts market research firm. The findings were featured in the recently published report, Pet Insurance in the U.S., 6th Edition. The pet insurance market will grow more than 14 percent per year, supported by a number of trends in both this emerging market and competitive ones, according to company experts. Increased consumer awareness will be crucial to growth. "Consumers are increasingly aware of the available pet insurance plans in the U.S. marketplace," said David Sprinkle, research director for Packaged Facts. "Through marketing efforts and consumer education by pet insurance companies and associations, consumers are learning the benefits that pet insurance can offer when a pet becomes ill or injured. "For example, pet insurance companies use social media and their websites to grow consumer awareness of their offerings by sharing information on pet health, dog and cat breeds, and how pet insurance works. As market penetration remains low, these efforts are crucial to continued growth in the number of policies in force." Packaged facts targeted …
Nationwide pet insurance opens 2018 Hambone Award voting September 26, 2018After reviewing nearly 1.5 million pet insurance claims received over the past year, Nationwide has nominated 12 candidates for the 2018 Hambone Award. Each year, the pet health insurer scours its database of 700,000-plus insured pets to honor the most unusual pet insurance claim of the year. The winner will be decided by a public vote, open now through Oct. 8, at HamboneAward.com. In addition, the veterinary practice that treated this year's Hambone Award winner will receive a $10,000 Nationwide-funded award through the Veterinary Care Foundation to treat pets whose owners could not otherwise afford treatment. From a pair of German shepherds who were found after 21 days trapped in an abandoned missile silo to a cat who went through a dryer's fluff cycle, all 12 nominees have uniquely harrowing tales. All nominated pets have made full recoveries and received Nationwide insurance reimbursements for eligible veterinary expenses. The 2018 Hambone Award nominees Howard the golden retriever (San Diego). This tech-hungry hound swallowed an electronics charger. Veterinary practice that treated Howard: Bodhi Animal Hospital (San Diego) Maddy the Labrador (Charlotte, N.C). Water-loving Maddy found herself playing on the shores of danger when she was suddenly …
AAHA, Petplan launch association pet health insuranceSeptember 18, 2018The American Animal Hospital Association (AAHA), in partnership with Petplan, has launched the AAHA Pet Health Insurance Program, available to participating AAHA-accredited veterinary practices and their clients in the U.S. and Canada. With this offering, AAHA is "working to mitigate stress in the veterinary hospital by helping pet owners manage the cost of care for their pets, and by helping veterinarians practice their best medicine without budgetary constraints," said the association in a statement. "When it comes to providing the best care for patients, a pet owner's economic limitations can add stress to the equation," said Michael Cavanaugh, DVM, DABVP (Emeritus), AAHA CEO. "Pet health insurance is important because it offers pet owners and practice teams another way to manage the cost of veterinary care and help pets get the care they need. At the end of the day, this helps reduce strain in the veterinary practice while simultaneously increasing pets' access to care." Petplan provides a dedicated information hotline for all AAHA-accredited hospitals and clients so they can reach a Petplan service representative any time, day or night. "In launching this new collaboration, we're giving veterinary hospital teams the tools their clients need to understand the …
Trupanion pet insurance appoints new member to board of directorsSeptember 11, 2018Trupanion Inc. pet insurance company announced the appointment of Jackie Davidson to its board of directors, effective Sept. 5. "We are very pleased to welcome Jackie to our board," said Darryl Rawlings, CEO. "Jackie is a seasoned financial leader with a strong track record in guiding companies through periods of growth and innovation. We look forward to working closely with Jackie and our board as we continue to grow Trupanion and the broader medical insurance for pets category." Davidson currently serves on the board of BuildPulse, is a member of the board of trustees for the Washington CPA Foundation, serves on the advisory board of ClientLinkt, and is a member of the National Association of Corporate Directors, the American Institute of Certified Public Accountants, and the Washington Society of CPAs. Most recently, she worked as the CFO at Market Leader.
