Redefining an Industry, Trupanion Marks 20 Years of Innovation and Customer Trust

Rhea-AI Summary

Trupanion, the leader in pet medical insurance, marks its 20th anniversary this August. Since insuring its first pet, Monty, the company has grown to cover nearly 530,000 pets, providing over $1 billion in claims. Unique for its 24/7 customer support and patented software allowing for direct veterinarian payments, Trupanion has transformed the insurance landscape for pets. The company emphasizes its commitment to veterinary professionals and pet owners, celebrating a legacy of improving pet healthcare. Trupanion is traded on NASDAQ under the symbol 'TRUP'.

Positive

• Exceeded $1 billion in paid claims, enhancing credibility.
• Covers nearly 530,000 pets, indicating strong market presence.
• Unique software for direct vet payments improves user experience.

Negative

• None.

SEATTLE, Aug. 05, 2020 (GLOBE NEWSWIRE) -- Founded in 2000 with the input and support of veterinarians, veterinary professionals, and pet owners, Trupanion, a leader in medical insurance for pets, this month celebrates 20 years since it insured its first pet.

The first pet insured under a Trupanion policy was Monty, the adopted dog of Founder and CEO, Darryl Rawlings. Today, Trupanion is helping the owners of nearly 530,000 pets budget and care for their pet’s unexpected accidents and illnesses.   

“When I set out, my goal was to create a company that was valuable to pet owners, their pets, and veterinarians,” said Darryl Rawlings, founder and CEO of Trupanion. “Those early days were pretty tough – launching a totally new approach to insurance that many thought couldn’t work with just me, my dog and one other team member on a boat off the coast of British Columbia.”

From those humble beginnings, Trupanion is still inspired to do things differently and has grown to nearly 1,000 team members and Territory Partners providing the best user experience for its members and ensuring the best veterinary care throughout the U.S., Canada and Australia.

As the only single line medical insurance provider for pets, Trupanion was built from the ground up and has revolutionized the industry. In addition to offering the highest quality product and unequalled 24/7/365 customer support, Trupanion is the only provider with patented software that can pay claims directly to the veterinarian at the time of check-out, often within seconds.

The Seattle-based company recently reached the $1 billion in paid claims milestone, with nearly one-third of that paid directly to veterinary hospitals at the time of invoice. Over the past 20 years, more than 1.3 million Trupanion pets have benefited from the best veterinary care, visiting veterinary hospitals over 3 million times.

For 20 years Trupanion has been all about helping pets – it’s in its DNA. Trupanion’s team is made up of dedicated staff veterinarians, vet techs, data scientists and other pet health professionals. In 2015, Trupanion founded Veterinary Appreciation Day to recognize the important work of veterinary professionals around the globe. In addition, Trupanion’s Chief Veterinary Officer, Dr. Steve Weinrauch, founded MightyVet, a nonprofit, industry-wide platform to support veterinary professionals in their career and well-being.

“The backbone of the company remains our team members, the veterinary professionals in the field, and our members and their pets and I couldn’t be more proud of what we’ve accomplished together over the past 20 years,” added Rawlings.

About Trupanion
Trupanion is a leader in medical insurance for cats and dogs throughout the United States and Canada with nearly 530,000 pets enrolled. For over 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.

Contact:
Media
Michael Nank
michael.nank@trupanion.com
206.436.9825

Investors
Laura Bainbridge, Head of Corporate Communications
InvestorRelations@trupanion.com
206.607.1929

 

FAQ

What milestone did Trupanion reach this August 2020?

Trupanion celebrated its 20th anniversary and exceeded $1 billion in paid claims.

How many pets does Trupanion currently insure?

Trupanion provides insurance for nearly 530,000 pets.

What is unique about Trupanion's claim payment process?

Trupanion's patented software allows for claims to be paid directly to veterinarians at checkout.

What is Trupanion's stock symbol?

Trupanion is listed on NASDAQ under the symbol 'TRUP'.

Who was the first pet insured by Trupanion?

The first pet insured was Monty, the adopted dog of founder Darryl Rawlings.