After seeing success in the US, Spot Pet Insurance has announced its entry into the Canadian market.
According to the Canadian Animal Health Institute, around 8.3 million Canadian households have cats and another 8.2 million have dogs, but only 3% of pet owners have pet insurance. Trey Ferro, chief executive officer at Spot, hopes to bump up this number with Spot’s expansion.
“Spot's mission is to help protect pet parents while continuing to help build strong communities of pet lovers,” Ferro said. “Through pet health-focused education, we spread the importance of peace of mind, to enjoy many years of pet health together.”
In the US, each Spot insurance plan includes a straightforward claims submission through the Spot App, website or email, 24/7 VetAccess telehealth support, up to 90% reimbursement rate and a 30-day money-back guarantee should the policyholder cancel within the first month without any covered claims.
Spot also recognizes the wide range of pet health concerns as it includes coverage for behavioural problems, alternative therapies for covered conditions and extra options for preventive care at a nominal fee.
In a Press release, Spot said what sets it apart from other pet insurers is the technology behind its products. Spot’s member portal allows pet owners to access the entire list of its product offerings and services. Claims submissions are quickly processed and can also generate a free quote in under 30 seconds.
"The claims team has embraced the power of tech as an added advantage to the claims process to ensure that not only does taking care of pets have a fresh, new perspective, but that it's a personal experience," Ferro said. "We want to change the narrative on pet insurance because we believe that it's as essential as getting an insurance plan for your actual children."
Canadian pet insurance policies offered by Spot are underwritten by Northbridge General Insurance Corporation and administered by PTZ Insurance Services Ltd.
