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Trupanion See full firm profile
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hosted its This autumn’23 earnings name on Feb 15, 2024. Select highlights:
- Total income was $295.9 million, a rise of 20% in comparison with the fourth quarter of 2022.
- Net lack of $2.2 million.
- Deployed ~$15.5 million to accumulate almost 67,000 pets.
- Trupanion recognized alternatives to reinforce their member expertise, primarily by way of the adoption of a brand new coverage administration system.
- The studying curve related to this new system is anticipated to require a while for group members to completely adapt.
- In the interim, because the system is being ramped up, service ranges have been noticed to be decrease than anticipated.
- The firm acknowledged Nationwide as its fundamental competitor in California, which lately obtained approval for a 68% price enhance within the state.
Minimum Number of CA Pet Policyholders by Insurer
| Trupanion | Nationwide | Crum & Forster | Lemonade |
|---|---|---|---|
| 92,884 | 83,401 | 45,521 | 38,549 |
- Trupanion has launched new merchandise in North America, together with Furkin, PHI Direct, and people available by way of Chewy and Aflac, including about 9,000 new pets with a median income per pet (ARPU) of $38.6. These merchandise supply much less protection, leading to decrease retention charges and, consequently, a lowered lifetime worth for every pet insured.
- Chewy contributed not less than 3,152 insurance policies totaling near $645k in written premium.
Chewy Pet Policies by State
| State | >Policies | Written Premium ($) | As of |
|---|---|---|---|
| Arkansas | 34 | 11,954 | May 2023 |
| Colorado | 134 | 58,477 | Aug 2023 |
| Connecticut | 123 | 22,202 | Jun 2023 |
| Delaware | 21 | 3,375 | May 2023 |
| District of Columbia | 3 | 1,848 | Feb 2024 |
| Georgia | 176 | 81,737 | Jun 2023 |
| Indiana | 159 | 22,723 | May 2023 |
| Iowa | 21 | 2,735 | Mar 2023 |
| Louisiana | 60 | 8,291 | May 2023 |
| Maine | 37 | 5,640 | Jun 2023 |
| Maryland | 123 | 24,514 | Apr 2023 |
| Massachusetts | 226 | 38,772 | Mar 2023 |
| Michigan | 150 | 22,421 | May 2023 |
| Minnesota | 70 | 11,647 | May 2023 |
| Mississippi | 40 | 13,890 | May 2023 |
| Missouri | 108 | 13,830 | May 2023 |
| Nebraska | 28 | 3,216 | May 2023 |
| Nevada | 46 | 8,780 | Mar 2023 |
| New Hampshire | 46 | 9,353 | Apr 2023 |
| New Jersey | 65 | 13,996 | Apr 2023 |
| New Mexico | 19 | 7,199 | May 2023 |
| North Carolina | 278 | 45,293 | May 2023 |
| Ohio | 206 | 36,207 | Apr 2023 |
| Oklahoma | 20 | 3,688 | Jul 2023 |
| Oregon | 99 | 17,764 | May 2023 |
| Pennsylvania | 269 | 50,943 | May 2023 |
| Rhode Island | 37 | 6,175 | Apr 2023 |
| South Carolina | 72 | 12,445 | Apr 2023 |
| South Dakota | 15 | 8,616 | May 2023 |
| Tennessee | 111 | 16,795 | Jun 2023 |
| Utah | 67 | 9,406 | May 2023 |
| Virginia | 203 | 34,750 | Apr 2023 |
| Wisconsin | 86 | 16,099 | Apr 2023 |
- Alfac affords its pet insurance coverage – powered by Trupanion – to employers with over 500 workers. It reached over 224 insurance policies, bringing in $69k in written premium.
Aflac Pet Policies by State
| State | >Policies | Written Premium ($) | As of |
|---|---|---|---|
| Colorado | 1 | 92 | Nov 2023 |
| Connecticut | 4 | 2,170 | Aug 2023 |
| Delaware | 1 | 634 | Sep 2023 |
| Georgia | 76 | 20,734 | Aug 2023 |
| Louisiana | 1 | 905 | Aug 2023 |
| Maine | 8 | 2,246 | Sep 2023 |
| Michigan | 3 | 605 | Jul 2023 |
| Mississippi | 2 | 433 | Jul 2023 |
| Missouri | 1 | 407 | Aug 2023 |
| Nebraska | 6 | 1,300 | Jul 2023 |
| New Hampshire | 1 | 95 | Aug 2023 |
| North Carolina | 6 | 1,609 | Aug 2023 |
| Ohio | 3 | 557 | Jul 2023 |
| Pennsylvania | 8 | 1,362 | Jul 2023 |
| South Carolina | 20 | 5,817 | Sep 2023 |
| Virginia | 80 | 29,519 | Sep 2023 |
| Wisconsin | 3 | 271 | Jul 2023 |
- For reference,
Wishbone Pet Insurance See full firm profile
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