Pet insurance is a growing market, according to the press release. Eighty-five million families own pets in the United States and collectively spend $18 billion on veterinary care. In 2018, only 2% of pets were insured. PetFirst provides insurance to 40,000 pets nationwide, through a distribution network of animal welfare agencies, direct to consumer and employers. MetLife hopes to acquisition will appeal to its customers employees.
Katie Blakeley, CEO of PetFirst, said of the acquisition in the emailed statement, “For more than 15 years, we have proudly focused on developing products and services to meet the growing and evolving needs of pet parents across the U.S. During this time, we have seen pet insurance continue to gain importance as a valuable product for families. With MetLife’s tremendous reach and resources, we see a strong opportunity to help more pet parents get access to pet insurance and alleviate the potential financial burden of a sick or injured pet.”
Ramy Tadros, president of U.S. Business for MetLife said of the acquisition, “Today’s employees have an increasing expectation of their employer to support their lives holistically, and offering pet insurance provides our customers’ employees additional support against unexpected out-of-pocket pet health expenses. PetFirst is a leading pet health insurance administrator and we look forward to welcoming the talented PetFirst team to the MetLife family.”
Always remember to #AdoptDontShop and read more about tips for pet adoption, what to consider when thinking about adopting a pet, and how to help dogs and cats in shelters.
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