Synchrony's Pets Best expands partnership with JAB's Independence Pet Group
Aim to serve the rapidly growing pet health insurance industry
Pets Best Insurance Services, LLC, a Synchrony solution and pet health insurance company, and JAB's Independence Pet Group (IPG) have expanded partnership with IPG's entirely owned subsidiary, Independence American Insurance Company (IAIC). Through this, IAIC will offer comprehensive insurance underwriting services for Pets Best to address the increasing demand for pet insurance.1
Photo courtesy of Synchrony.
"At Pets Best, our commitment has always been, and remains, to offer pet parents the most comprehensive, personalized, and affordable pet health insurance coverage, and we are pleased to enhance our ability to do that through this expanded relationship with Independence American," expressed Melissa Gutierrez, senior vice president and general manager, Pets Best.1 "We have seen significant growth over the past several years, and as an insurance Managing General Agent (MGA), Pets Best works with various underwriters to ensure the best possible insurance plans for all of our customers are available nationwide."
The North American Pet Health Insurance Association (NAPHIA) recently reported2 that by the end of 2022, 5.36 million pets were insured in North America, which is a 22% increase in 1 year. This increase was displayed with Pets Best as well, which provides an array of insurance plans, (ie, accident, routine and wellness coverage, and digital tools that customize and simplify the user experience).1
"We are thrilled to enter into this expanded partnership with Pets Best, which shares our commitment to provide the growing number of pet owners with industry-leading insurance products and services," stated Lane Kent, CEO of Independence Pet Group, the parent company of IAIC.1 "We look forward to growing our relationship and supporting Pets Best in providing comprehensive and personalized coverage solutions so owners can focus on enjoying their pets worry free."
References
- Synchrony's Pets Best expands relationship with JAB's Independence Pet Group to serve growing pet insurance industry. News release. Synchrony. July 12, 2023. Accessed July 13, 2023. https://www.prnewswire.com/news-releases/synchronys-pets-best-expands-relationship-with-jabs-independence-pet-group-to-serve-growing-pet-insurance-industry-301873464.html
- State of the Industry 2023 Highlights. North American Pet Health Insurance Association. 2023. Accessed July 13, 2023. https://naphia.org/industry-data
