Trupanion Launches Signature Medical Insurance Product in Europe
Launches high-value product in Germany & Switzerland with capability to pay veterinarians directly
SEATTLE, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Trupanion, Inc. (Nasdaq: TRUP), the leading global provider of medical insurance for cats and dogs, announced today the official launch of its high-quality Trupanion product in Germany and Switzerland. The launch follows the Company’s expansion to Continental Europe in 2022 with the acquisition of two rapidly growing pet insurance companies with strong expertise in the region.
“We’re excited to celebrate this major milestone and offer German and Swiss pet parents and their 29 million pets the unrivaled protection of Trupanion,” said Margi Tooth, CEO at Trupanion. “The launch of our Trupanion product in Continental Europe marks a significant step forward in our international expansion efforts, a key tenet of our 60-month plan, and opens the opportunity for us to distinguish Trupanion’s unique, high-value product within the marketplace.”
Simon Wheeler, EVP International at Trupanion, added, “With low levels of pet insurance penetration in Continental Europe, we see a long runway for growth for our high-value Trupanion product. Similar to our market-leading product in North America currently covering over 900,000 pets, we believe our Trupanion product in Germany and Switzerland provides pet parents with true lifetime, transparent coverage in the marketplace.”
Trupanion’s comprehensive product is uniquely designed for the lifetime of the pet. The product also covers all eligible unexpected accidents and illnesses (including congenital and hereditary conditions, conditions developed before birth or that a breed is prone to) and has no breed and age limitations or stipulations, a rarity in the two markets. Trupanion aims to revolutionize the claims process entirely, utilizing patented technology to pay the veterinarian directly through a fast, simple and transparent process. Trupanion’s progressive integration with leading veterinary software platforms and online veterinary portal will enable increasing volumes of veterinary invoices paid directly to the veterinarian, eliminating the need for traditional reimbursement to pet parents.
“With Trupanion’s veterinarian direct pay feature, the need to file a traditional claim for reimbursement later will disappear. Removing the burdensome processes of filing claims allows veterinarians to focus on providing high-quality care and eliminates concern about financial hurdles for pet parents, granting our members the ability to choose the best treatment options for their pets,” noted Professor Dick White, Clinical Director of Trupanion Germany and Switzerland.
Trupanion policies in Germany and Switzerland will be administered and managed by Trupanion’s local team in Europe, and the policies will be underwritten locally by third parties. Trupanion is excited for the close alignment of these strategic relationships and working together towards future expansion in Europe.
More information can be found at trupanion.eu.
About Trupanion
Trupanion is the leading provider of medical insurance for over 1,000,000 cats and dogs throughout the United States, Canada, Europe, Puerto Rico and Australia. For over two decades, Trupanion has given pet owners peace of mind so they can focus on their pet's recovery, not financial stress. With its patented process, Trupanion is the only North American provider with the technology to pay veterinarians directly in seconds at the time of checkout. 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 Accelerant Insurance Company of Canada. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. For more information, please visit trupanion.com.
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