Trupanion, which offers medical insurance for cats and dogs, has launched its signature product in Germany and Switzerland, marking a significant step in the company’s European expansion.
This move comes after Trupanion acquired two pet insurance companies in Continental Europe in 2022.
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According to Trupanion, its product is designed to support pets throughout their lifetime.
The product includes comprehensive coverage for all eligible unexpected accidents and illnesses, even those that are congenital or hereditary, without any restrictions based on breed or age.
Trupanion CEO Margi Tooth said: “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.”
Based in Seattle, Trupanion employs patented technology to facilitate direct payments to veterinarians, streamlining the claims process and enhancing transparency.
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By GlobalDataThis approach is expected to simplify the experience for pet owners, as it removes the typical reimbursement model.
The integration of Trupanion’s system with veterinary software platforms and an online veterinary portal is also anticipated to increase the number of veterinary invoices paid directly, further simplifying the payment process.
Policies in Germany and Switzerland will be managed by Trupanion’s European team and underwritten by local third-party insurers.
Trupanion International executive vice-president Simon Wheeler said: “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 Germany and Switzerland clinical director Professor Dick White added: “Removing 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 ability to choose the best treatment options for their pets.”
