Tuesday, March 18, 2008 – As a part of a national roll out, pet insurance provider Trupanion is available starting March 18 in Tennessee.
The Seattle-based company is new to the United States. The company started as Vetinsurance in Canada in 2000, where it still does business under the brand.
Backers of Trupanion include Maveron, venture capitalists behind Starbucks and eBay, and Renaissance RE, a $4 billion dollar insurance company.
Trupanion enrolls puppies and kittens under a year old, offering $20,000 of lifetime coverage. Pet owners lock in their coverage.
The annual US pet market totals more than $41 billion, larger than the movie, music and video game industries combined, according to a press release from Trupanion.
Pet insurance is a trend in Europe, but still in its inception the United States, where about 1 percent of owners insure their pets.
Eighteen percent insure pets in the United Kingdom, while 58 percent use pet insurance in Sweden.
Trupanion features a policy with a fixed price that doesn’t increse as a pet ages. Ninety-percent of all approved claims are covered and nine out of 10 claims are processed within 24 hours, according to the company’s Web site.
Read the full story at http://nashville.bizjournals.com/nashville/stories/2008/03/17/daily11.html