Pets Best Achieves 500,000th Pets Insured Milestone

Rhea-AI Summary

Pets Best Insurance Services, a leading U.S. pet insurance provider and a Synchrony solution, has reached a milestone of insuring its 500,000th pet. This achievement emphasizes its commitment to providing comprehensive and affordable animal healthcare across the nation. The company has seen growth driven by digital features, including a mobile app for easy account management and claims submission, which align with changing customer preferences. With the pet insurance industry surpassing $1.9 billion in premiums, Pets Best continues to leverage partnerships and technology to enhance customer experiences and expand market reach.

Positive

• Insured 500,000 pets, indicating strong market demand.
• Launched a mobile app enhancing customer experience by simplifying account management and claims submission.
• Continued innovation in digital solutions aligns with a growing trend in the pet insurance industry.
• Partnerships with various companies contribute to growth and market expansion.

Negative

• None.

Variety of Pet Insurance Plans and Access to Personalized and Convenient Digital Features Drive Success 

Milestone Reinforces Pet Parents Seeking Protection Against Unexpected Veterinary Bills

BOISE, Idaho, April 26, 2022 /PRNewswire/ -- Pets Best Insurance Services, LLC, a Synchrony (NYSE: SYF) solution and leading U.S. pet insurance provider, has insured its 500,000^th pet, providing pet parents across the nation access to comprehensive companion animal healthcare at an affordable price. Coverage options, easy and convenient mobile solutions, and API-driven technology are key factors in Pets Best's success.

Pets Best will continue to innovate contactless and digital-first solutions that prioritize the customer experience.

"At Pets Best we strive to give pet parents peace of mind by taking the financial worry out of owning a pet so that they can make the best decisions for their dog or cat," said Melissa Gutierrez, senior vice president and general manager of Pets Best.  "We are proud to celebrate this milestone because it means pet parents don't have to risk overextending their personal finances, and over half a million pets can get the best care possible with pet insurance."

Spurred by an increase in pet adoptions during the pandemic and a new digital shift toward curbside and virtual appointments, Pets Best has invested in new, technology-driven features that improve and simplify the customer experience.  Customers can easily manage their account and submit claims through the Pets Best mobile app.  Additionally, pet parents can manage payment preferences, add new pets, access customer support and contact the 24/7 Pet Helpline all through their mobile device at any time and from anywhere.

"The industry has experienced double-digit growth during the past five years¹ and demand for digital solutions remains a priority," said Gutierrez. "Pets Best will continue to innovate contactless and digital-first solutions that prioritize the customer experience."

Distribution through partners who integrate via Pets Best's API-driven technology solutions have been a driver of growth for Pets Best.  These include national and regional insurance companies who offer Pets Best as part of their suite of offerings, as well as individual companies who offer Pets Best as an employee benefit.

Since its founding in 2005, Pets Best has helped spearhead the advancement of pet health insurance, an industry that recently surpassed $1.9 billion in premiums in the US².  As a founding member of the National Pet Health Insurance Association, NAPHIA, Pets Best has remained a pillar within its growing industry and has supported animal philanthropies, including the Idaho Humane Society, and recognized veterinarians for the outstanding work they do in their communities through the annual Pets Best "My Vet's The Best" contest.

Marking this company milestone, Pets Best has donated $5,000 to the Idaho Humane Society, the largest and oldest animal welfare organization and veterinary charity in the state. 

To learn more about Pets Best, visit www.petsbest.com. 

About Pets Best Insurance Services, LLC 
Pets Best offers pet insurance and wellness plans for dogs and cats in every state. Founded in 2005 with a mission to provide access to comprehensive animal healthcare at an affordable price, Pets Best delivers flexible coverage, an easy claims process, and excellent customer service. In 2019 the company was acquired by Synchrony (NYSE: SYF). Pets Best is highly rated by independent review sites and is recommended by veterinarians across the nation. Pets Best is a founding member of NAPHIA, an organization dedicated to ensuring high standards and transparency for the pet insurance industry.

Pet insurance coverage is offered and administered by Pets Best Insurance Services, LLC and underwritten by American Pet Insurance Company, a New York insurance company headquartered at 6100 4th Ave. S. Suite 200 Seattle, WA 98108. Please visit www.americanpetinsurance.com to review all available pet health insurance products.

About Synchrony 
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally-enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, powersports, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners."  We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences.  We offer the right financing products to the right customers in their channel of choice. For more information, visit www.synchrony.com and Twitter: @Synchrony.

CONTACT: 
Kerry Sutherland, K. Sutherland PR 
Kerry@KSutherlandPR.com 
(775) 360-6101

¹ https://naphia.org/news/naphia-news/pet-insurance-market-continued-double-digit-growth/ 
² https://naphia.org/news/naphia-news/pet-insurance-market-continued-double-digit-growth/

 

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SOURCE Synchrony

FAQ

What milestone did Pets Best achieve recently regarding pet insurance?

Pets Best has insured its 500,000th pet, marking a significant milestone.

What role does Synchrony play in relation to Pets Best?

Pets Best is a solution provided by Synchrony, enhancing its pet insurance offerings.

What digital features has Pets Best introduced to improve customer experience?

Pets Best has introduced a mobile app for easy account management and claims submission.

How has the pet insurance industry performed recently?

The pet insurance industry has experienced double-digit growth over the past five years, surpassing $1.9 billion in premiums.

What future plans does Pets Best have following its recent milestone?

Pets Best aims to continue innovating with digital-first solutions that prioritize customer experience.