SUPERPOWERED PET INSURANCE
On a breezy September day in 2006, Darryl Rawlings was sitting on a beach in a tent in Mexico enjoying the warm sun and crashing waves and having a chat with his wife. Trupanion, the pet medical insurance company Darryl had founded in Vancouver, B.C. in 1999, had taken flight and hit a critical moment in its growth, posing a crossroads—do they keep the company headquartered in Vancouver and focus on growth in Canada, or take a leap of faith and move the business to the United States, taking aim at international success?
The choice for Darryl was clear. His aspirations were global, as was his desire to help pets from around the world. With the support of his wife, Darryl’s decision to move Trupanion’s headquarters to Seattle was a watershed moment for the business, making it one of the early pet tech companies in the region.
REDEFINING THE PET INSURANCE LANDSCAPE
Trupanion was founded with the guiding mission to help loving, responsible pet owners budget and care for their pets. Gone are the days that pet owners must rely on paying for unexpected veterinary care out of their pockets with savings, credit cards, or other loans—a model Darryl had witnessed fail his own pet as a child. Medical care for a pet can involve sophisticated and costly treatments that are simply out of reach for many owners, and without medical coverage, they may be forced to choose less expensive, sub-standard alternatives or, in the worst cases (as was the case for Darryl’s childhood dog Mitzy), economic euthanasia. Trupanion was created to resolve that conflict and unite pet owners and veterinarians under the common cause of restoring pets to their best health, regardless of the expense.
A PRODUCT DESIGNED FOR THE VETERINARY COMMUNITY, BY THE VETERINARY COMMUNITY
Trupanion’s desire to break convention and revolutionize the industry continues to drive the company today. At Trupanion, team members celebrate helping pets. Since its inception, Trupanion has covered over 1.7 million pets and paid over $2.2 billion dollars directly to veterinary hospitals on behalf of its members, which now includes more than $1 million paid out every single day.
Trupanion has more than a dozen veterinarians on staff, and more than half of their workforce today comes from an animal health background. Having an in-depth understanding of the work that happens at the veterinary level helps them take better care of members and better support their hospital partners. This common purpose cascades through everything done as an organization and as part of the animal health industry.
ADVANCING TECH TO PAY MORE CLAIMS
Trupanion is the only pet medical insurance provider with patented in-hospital software to process and pay claims directly to animal hospitals—while pet owners are at checkout. With a demonstrated ability to do so in mere seconds, Trupanion couples the fastest veterinary invoice processing time and highest degree of veterinary invoice automation of any pet insurance company in North America. This fast and efficient payment process brings much-needed relief to pet parents and allows them to choose the best care for the pet every time, without the need to weigh their options or make impossible decisions. And it allows vets to practice their best medicine and focus on what they do best, which is why thousands of hospitals across North America are partnered with Trupanion to take advantage of this free software.
Trupanion’s patented, award-winning software employs state-of-the-art artificial intelligence (AI) to replicate real-world policy decisions. Using a series of Machine Learning (ML) models trained on millions of claims processed by Trupanion team members, this proprietary technology covers a wide variety of claiming scenarios, ensuring accurate and efficient processing. Nearly 40% of traditional medical claims that are submitted for reimbursement by Trupanion members are also automated, enabling Trupanion to recognize, process, and approve a claim in a fraction of the time compared to other pet insurers.
In 2022, over 500,000 veterinary invoices were submitted and paid directly to the hospital through this patented software. That number has grown by 25% since 2021 and is expected to continue growing in 2023 and beyond.
SUPPORTING PET OWNERS & VETERINARIANS AROUND THE WORLD
Over the last few years, Trupanion has made strides in expanding their global footprint beyond the US, Puerto Rico, Canada, and Australia. Through strategic partnerships with well-aligned industry players and additional products in Continental Europe, Japan, Australia, and more, Trupanion is focused on growing access to ensure every pet parent can get the care their pets need. Recent partnerships with State Farm, Aflac, and Chewy bring the Trupanion name to more and more pet parents worldwide.
By the end of 2025, Trupanion’s goal is to reach millions of pets through new products, partnerships, and in new geographies. More protected pets means improved access to care for pet parents, a more sustainable veterinary care ecosystem, and, ultimately, better health outcomes for the pets we love like family.
