Aflac and Trupanion won’t promote pet insurance coverage in Japan

“>

are asserting that they won’t pursue the Japanese market.

“After testing this alignment in Japan, a key market for Aflac, a decision was made to withdraw from development in Japan, and instead the companies are focusing on the larger, underpenetrated North American pet insurance market,” Aflac shared in a press launch.

In 2020, Aflac paid $200 million to amass a 9% stake in Trupanion and the businesses introduced an unique alliance to promote pet insurance coverage in worksites throughout the US. As a part of the connection, the businesses additionally agreed to discover potential alternatives in Japan’s rising pet insurance coverage market. In November 2022, the businesses introduced a three way partnership in Japan that may leverage Aflac’s sturdy model, insurance coverage experience, and broad distribution community with Trupanion’s experience and management in pet insurance coverage.

The plan was to begin promoting pet insurance coverage within the second half of 2023.

Bottom Line: Trupanion (US) had a median development fee of roughly 33.6%. JAB skilled a median development fee of roughly 43.3%. The evaluation is available through our latest analysis report on the topic.