Petco Partners with Nationwide to Develop Pet Insurance Plans | New
Petco Health and Wellness Co. and Nationwide unveiled plans for a multi-year partnership to co-develop integrated and affordable pet health, wellness and protection solutions for every stage of an animal’s life pets, with the aim of improving the health and welfare of pets. the over 90 million pet families in the United States
Petco’s fully integrated ecosystem of pet health and wellness solutions, including its more than 1,500 Petco Pet Care Centers, and Nationwide’s in-depth claims data set, as well as pet protection and insurance capabilities will be the focus of comprehensive programs expected to be available in 2023, company officials said. With the ability to cross-promote and market to each other’s customer base and beyond, pet-serving businesses will leverage their collective infrastructure, expertise, officials added.
“Receiving the lifelong medical support pets need is critical for pets and their families,” said Jenny Wolski, senior vice president of omnichannel customer experience at Petco. “The personalized, data-driven pet insurance solutions we are developing in partnership with Nationwide will be designed to expand families’ access to Petco’s full suite of pet care services, giving them a longer, healthier life together.”
Ongoing veterinary care is essential to the overall health and well-being of pets, and pet insurance plays an important role in helping families say “yes” to the care they couldn’t afford. allow otherwise, but only about 2.5% of pets in the United States are estimated to be insured, according to 2021 data from the North American Pet Health Insurance Association (NAPHIA). A 2021 Nationwide-sponsored VetSuccess study found that Nationwide-insured dogs and cats visited vets 73% and 43% more often, respectively, than pets without health insurance.
“Forty years ago, Nationwide issued the first pet health insurance policy in the United States for TV’s Lassie. For every year since, more customers have trusted us to protect their pets than any other insurer,” said Heidi Sirota, President of Pet Insurance and Chief Pet Officer at Nationwide. “Maintaining our market leadership has been driven by continued customer-focused innovation, including being the first to offer voluntary benefit plans, avian and exotic coverage, telehealth and preferential pricing on prescription drugs. Our partnership with Petco is another groundbreaking initiative that will reshape the pet care industry by expanding access to care, providing actionable health insights and improving outcomes for millions of pets. and their families.
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These new offerings are expected to focus on end-to-end pet care provided by Petco’s pharmacy, veterinary hospitals or clinics, and other health and wellness offerings, including Petco’s Vital Care program. Petco. Coverage will include routine preventative care such as vaccinations and unforeseen medical needs related to accidents or serious illnesses. Petco insurance offerings available to Petco customers and partners (employees) are expected to be provided exclusively through Pet Insurance nationwide going forward, officials said.
“With an increasing number of pets in American homes, and their loving families’ need and desire that they live as healthy and happy lives as possible, expanding pet parents‘ access to the care that support all elements of a pet’s overall health—including access to veterinary care as well as physical, mental, social, and home health—is a key part of Petco’s focus on goal-driven performance,” said Dr. Whitney Miller, DVM, MBA, DACVPM and Chief Veterinarian at Petco. Our proven track record of providing extraordinary care for millions of pets is perfectly aligned with our mission to improve lives. With our combined efforts focused on what’s best for pets, we aim to streamline the pet insurance process for not only our customers, but the community as well. great veterinarian.”