Odie Pet Insurance, a full-service pet health insurance company known for its integrated technology solutions, has announced a strategic partnership with Insuritas, the nation’s leading embedded insurance provider for financial institutions.
This collaboration aims to seamlessly integrate Odie’s products into Insuritas’ award-winning BUNDLE embedded insurance platform, offering a convenient pet insurance solution.
This partnership allows Insuritas’ financial institution customers to access Odie’s customisable and affordable pet insurance coverage.
Customers can choose from a range of products, including a comprehensive Illness & Injury plan, an Accident Only plan, and a Wellness Plan that reimburses routine care items.
These options enable customers to personalize their coverage to meet their individual needs and those of their pets.
Odie Pet Insurance leverages a ‘pet insurance as a solution’ platform, making it simple for strategic partners to gain a competitive edge by efficiently launching a new line of business.
Odie Pet Insurance CEO and Co-Founder Miles Thorson said, “With Odie’s ‘pet insurance as a solution’ platform, we make it simple for strategic partners to gain a competitive edge in the marketplace by efficiently launching a new line of business. We are thrilled to partner with Insuritas to power their pet insurance solution across their ecosystem of financial institutions, enhancing their service offerings and furthering our mission of coverage accessibility.”
Insuritas has experienced considerable interest and growth in its pet insurance line since the partnership’s inception in late 2023.
Notably, one in five customers who started the process online received a quote, and one in three customers who received a quote online purchased a policy.
This highlights the propensity for online purchases of insurance and protection products, aligning with Insuritas’ 2024-2025 roadmap of offering additional bind-online protection products.
Insuritas President and CEO Jeffrey Chesky remarked, “This exciting development is just another key example of Insuritas’ commitment to provide diversified non-interest income for our financial institution partners. For over two decades, BUNDLE has empowered banks and credit unions to offer essential insurance products that meet their customers’ needs. We are extremely pleased to incorporate Odie’s pet insurance coverage into an already comprehensive portfolio of protection products.”
With only about 4% of pets insured in the U.S. and the rising cost of veterinary care, many pet parents face difficult decisions about medical treatments for their furry family members due to financial constraints.
The success of this partnership underscores the urgent need for affordable and comprehensive coverage options among pet parents, highlighting the importance of this pet insurance solution.
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