Trupanion Achieves Half Million Pet Milestone

October 20, 2018

Company’s dramatically different product attracts pet owners throughout North America

SEATTLE, Oct. 20, 2018 (GLOBE NEWSWIRE) -- Trupanion Inc. (NASDAQ:TRUP), a leading provider of medical insurance for cats and dogs in the U.S. and Canada, insured its 500,000th pet today.

Trupanion enrolled their first pet in 2000 in Vancouver, B.C. and moved to Seattle in 2008, achieving incredible growth by offering a budgeting option that is fundamentally different from its competitors.

“We are humbled by the trust and loyalty of our members,” said Darryl Rawlings, chief executive officer of Trupanion. “Pet owners understand that worrying about the cost of care for their pet can be a thing of the past. Trupanion set out to solve the problem all loving responsible pet owners face, the challenge of budgeting for the unexpected when their pet becomes sick or injured. Our product is different. We can pay the veterinarian directly which means that reimbursement can be a thing of the past. And our team, from the tireless staff in our claims center to our hundreds of on-staff veterinary professionals to our territory partners throughout the U.S. and Canada, all play a role in protecting the pets we love. This major milestone is not one we take lightly.”

The North America market has been lagging for decades behind its European counterparts with only 1% of pet owners choosing to take out coverage for their four-legged family member.

“Markets like the UK and Sweden have over 25% and 40% penetration rates respectively. People don’t love their pets any less across the Atlantic, we now finally have created something that truly solves the problem,” said Rawlings.

Why the record-breaking surge of newly insured pets? Trupanion offers:

  • 90% reimbursement with no payout limits for every enrolled pet, so you don’t feel financially overwhelmed in a time of need.
  • One simple policy created by veterinarians creates support you can genuinely rely on when the unexpected happens
  • The ability to pay Trupanion’s portion of the bill directly to their veterinarian as you check out, so you don’t wait weeks for a reimbursement check.

Even with more than 500,000 insured pets, Trupanion has more work to do.

“As a company, we are striving to offer the solution for all pet owners to be able to give their pets the best veterinary care. We want them to focus on their pet’s recovery, not their finances,” said Rawlings.

About Trupanion
Trupanion is a leader in medical insurance for cats and dogs throughout the United States, Canada and Puerto Rico. For almost two decades, Trupanion has given pet owners peace of mind so they can focus on their pet's recovery, not financial stress. Trupanion is committed to providing pet owners with the highest value in pet medical insurance with unlimited payouts for the life of their pets. Trupanion is listed on NASDAQ under the symbol "TRUP". The company was founded in 2000 and is headquartered in Seattle, WA. Trupanion policies are issued, in the United States, by its wholly-owned insurance entity American Pet Insurance Company and, in Canada, by Omega General Insurance Company. For more information, please visit trupanion.com.

Media contact:

Scott Janzen

mediarelations@trupanion.com

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Source: Trupanion