Trupanion, Inc. Hires President of Canadian Underwriting to Expand Underwriting Capabilities

February 11, 2020

SEATTLE, Feb. 11, 2020 (GLOBE NEWSWIRE) -- Trupanion, Inc. (Nasdaq: TRUP), the company behind North America’s leading medical insurance for pets brand, Trupanion, has announced the hiring of Randy Valpy, a 20-year veteran of the animal health industry. Valpy will hold the position of President of a to-be-formed Canadian underwriting company, which will be a catalyst for growth in the Canadian market for insurance offerings outside of the market-leading Trupanion brand.

“I am excited to join the team,” said Valpy. “I look forward to expanding upon our broad underwriting capabilities to tap into new avenues of growth including white label and corporate benefits offerings.”

Darryl Rawlings, Founder and Chief Executive Officer of Trupanion added, “I’m thrilled to be working with Randy. He is a proven leader in our industry with a wide network of potential customers for our future products and services.”

Valpy will also draw upon his years of experience with pet technologies to leverage some of the proprietary technology advancements behind the Trupanion experience, such as claims automation, across the world.

“Randy’s background uniquely qualifies him to help deliver a more efficient claims experience to the pet insurance space,” said Asher Bearman, Chief Strategy Officer of Trupanion.  “The Trupanion brand will remain head and shoulders above the market with its ability to pay the veterinarian at the time of checkout, in seconds. While this point of difference will remain a protected competitive advantage for Trupanion, moving the industry forward with some of our learnings to reduce costs can only be a good thing when it comes to helping more pets and veterinarians.”

Valpy brings extensive experience in the companion animal space, most recently having served as President and CEO of LifeLearn Animal Health, an educational and communications services provider to the veterinary, animal health and pet services communities. Previously, Valpy served as Vice President and Managing Director at Pets Plus Us, before and after its acquisition by PTZ Insurance Services, and as President and CEO of Western Financial Insurance Company.  Valpy also currently serves on the boards of the Farley Foundation, the charitable arm of the Ontario Veterinary Medical Association and the Guelph Humane Society, and from September 2015 to December 2016, he served as the President of the North American Pet Health Insurance Association (NAPHIA) of which he is also a founding member.

About Trupanion

Trupanion Inc., is a publicly traded company (Nasdaq: TRUP), and has been helping pet owners budget and care for their pets for over 20 years. Started in Canada in 2000, before entering the United States in 2008, Trupanion has helped over one million pets in its history and paid close to $1 billion dollars in veterinary invoices.  Through multiple brands of pet health insurance, the Company and its subsidiaries insure, or underwrite, over 610,000 pets in North America. 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.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 relating to, among other things, expectations, plans, and prospects for Trupanion, including, but not limited to, its expectations regarding its ability to execute its business plans. These forward-looking statements are based upon the current expectations and beliefs of Trupanion’s management as of the date of this press release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements made in this press release are based on information available to Trupanion as of the date hereof, and Trupanion has no obligation to update these forward-looking statements.

In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: regulatory and other constraints on the ability to establish underwriting capability in Canada; compliance by us and those referring us members with laws and regulations that apply to our business, including the sale of a pet medical plan; the ability to maintain the security of our data; fluctuations in the Canadian currency exchange rate; the ability to protect our proprietary and member information; the ability to maintain our culture and team; the ability to maintain the requisite amount of risk-based capital; the ability to continue key contractual relationships with third parties; third-party claims including litigation and regulatory actions; the ability to recognize benefits from investments in new solutions and enhancements to Trupanion’s technology platform and website; and our ability to retain key personnel.

For a detailed discussion of these and other cautionary statements, please refer to the risk factors discussed in filings with the Securities and Exchange Commission (SEC), including but not limited to, Trupanion’s Annual Report on Form 10-K for the year ended December 31, 2018 and any subsequently filed reports on Forms 10-Q and 8-K. All documents are available through the SEC’s Electronic Data Gathering Analysis and Retrieval system at www.sec.gov or the Investor Relations section of Trupanion’s website at http://investors.trupanion.com.

Contact:

Media
Michael Nank
michael.nank@trupanion.com
206.436.9825

Investors
Laura Bainbridge, Head of Investor Relations
InvestorRelations@trupanion.com
206.607.1929

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Source: Trupanion, Inc.