San Diego and Columbus, Ohio – Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) and At national scalethe nation’s largest pet insurer, today announced plans for a multi-year partnership to co-develop integrated and affordable health, wellness and protection solutions for pets at every stage of life. an animal’s life, with the aim of improving animal health and welfare. for the over 90 million pet families in the United States*
Petco’s fully integrated ecosystem of pet health and wellness solutions – including its more than 1,500 Petco Pet Care Centers – and Nationwide’s in-depth claims data set, as well as pet protection and insurance capabilities will be the focus of comprehensive programs expected to be available in 2023. With the ability to cross-promote and market to each other’s customer base and beyond. Beyond that, pet-serving businesses will leverage their collective infrastructure, expertise, and more than 150 years of information from a rapidly growing customer base of more than 25 million pet families.
“Receiving the lifelong medical support pets need is essential for pets and their families,” said Jenny Wolski, Petco’s SVP Omnichannel Customer Experience. “The personalized, data-driven pet insurance solutions we are developing in partnership with Nationwide will be designed to expand families’ access to Petco’s full suite of pet care services, giving them a longer, healthier life together.”
Ongoing veterinary care is essential to the overall health and well-being of pets and helps them live long, happy and healthy lives. Pet insurance plays an important role in helping families say “yes” to care they otherwise couldn’t afford, yet only about 2.5% of pets in the United States are estimated to be insured, according to 2021 data from the North American Pet Health Insurance Association (NAPHIA). A VetSuccess Study 2021 sponsored by Nationwide found dogs and cats insured by Nationwide veterinarians visited 73% and 43% more often, respectively, than animals without health insurance.
“Forty years ago, Nationwide issued the first pet health insurance policy in the United States for TV’s Lassie. For every year since, more customers have trusted us to protect their pets than any other insurer. Maintaining our market leadership has been driven by continuous customer-focused innovation — including as the first to offer voluntary benefit plans, avian and exotic coverage, telehealth and preferential pricing on prescription drugs,” said Heidi Sirota, President and CEO of National Pet Insurance. “Our partnership with Petco is another groundbreaking initiative that will reshape the pet care industry by expanding access to care, providing actionable health insights and improving outcomes for millions of pets. company and their families..”
These new offerings are expected to focus on end-to-end pet care provided by Petco’s pharmacy, veterinary hospitals or clinics, and other health and wellness offerings, including Petco’s Revolutionary System Vital care program. Coverage will include routine preventative care such as vaccinations and unforeseen medical needs related to accidents or serious illnesses. Petco insurance offerings available to Petco customers and partners (employees) are expected to be provided exclusively by National Pet Insurance in the future.
“With an increasing number of pets in American homes, and their loving families’ need and desire for them to live as healthy and happy lives as possible, expanding pet parents’ access to the care that support all elements of a pet’s overall health – including access to veterinary care as well as physical, mental, social and home health – is a key part of the focus of Petco on goal-driven performance,” said Dr. Whitney Miller, DVM, MBA, DACVPM and Chief Veterinarian at Petco. “Nationwide’s proven track record of providing extraordinary care for millions of pets aligns perfectly with our mission to improve lives. Through our combined efforts focused on what’s best for pets, we aim to streamline the pet insurance process not only for our customers, but for the veterinary community as a whole.
Source: 2021-2022 National Pet Ownership Survey by the American Pet Products Association (APPA).
About Petco, The Health + Wellness Co.:
Founded in 1965, Petco is a category-defining health and wellness company focused on improving the lives of pets, pet parents, and our own Petco Partners. We have consistently set new standards in pet care while providing comprehensive pet wellness products, services and solutions, and building communities that deepen the pet-pet bond. . We operate more than 1,500 pet care centers in the United States, Mexico and Puerto Rico, which provide merchandise, pets, grooming, training and a growing network of veterinary hospitals on site and mobile veterinary clinics. Our comprehensive pet health and wellness ecosystem can be accessed through our pet care centers and digitally at petco.com and on the Petco App. In tandem with Petco Love (formerly the Petco Foundation), an independent, nonprofit organization, we work with and support thousands of local animal welfare groups across the country, and through in-store adoption events, we’ve helped find homes for more than 6.5 million animals.
About National Pet Insurance
With over 1.1 million pets insured, Nationwide is the first and largest provider of pet health insurance in the United States. National pet health insurance plans cover dogs, cats, birds, and exotic animals for multiple medical issues and conditions related to accidents, illnesses, and injuries. Medical plans are available in all 50 states and the District of Columbia. Products underwritten by Veterinary Pet Insurance Company (CA), Columbus, OH; National Casualty Company (all other states), Columbus, OH. Registration Agency: DVM Insurance Agency. All are subsidiaries of the Nationwide Mutual Insurance Company. Pet owners can find National Pet Insurance at Facebook or follow Twitter. For more information about National Pet Insurance, call 800-USA-PETS (800-872-7387) or visit petinsurance.com.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by Standard & Poor’s. An industry leader in customer-focused innovation, Nationwide offers a full suite of insurance products and financial services, including auto, business, home, farm and life insurance; public and private sector pension plans, annuities, mutual funds and ETFs; excess & excess, specialty and surety; animal, motorcycle and boat insurance. For more information, visit www.nationwide.com. follow us on Facebook and Twitter.
Nationwide, Nationwide is on your side, and Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company. © 2022.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding expectations, beliefs, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements other than statements of historical fact. Although Petco believes that the expectations and assumptions reflected in these statements are reasonable, there can be no assurance that such expectations will prove to be correct. Forward-looking statements are subject to numerous risks and uncertainties, including risk factors that Petco identifies in its filings with the Securities and Exchange Commission, and actual results may differ materially from the results discussed in such forward-looking statements. Petco undertakes no obligation to update publicly any forward-looking statements it may make, whether as a result of new information, future events or otherwise, except as required by law, regulation or other relevant legal authority. requires it.
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