Insurance companies work to improve access to pet health coverage

Photo: Jokiewalker/Adobe Stock

A pair of pet health insurance providers are working to provide greater access to coverage for veterinary clients. Healthy Paws, a division of Chubb insurance provider, has announced a new partnership that offers convenience to clients, while adoro Pet Insurance Services is preparing to enter the growing US market.^1,2

The US pet health insurance sector has more than doubled over the past 3 years, exceeding $5.2 billion in written premiums in 2024, up from $4.2 billion in 2023, according to the North American Pet Health Insurance Association (NAPHIA)’s State of the Industry (SOI) Report. The report also indicated 7.03 million insured pets across the US and Canada with a penetration rate of 5.46% for US dogs and 2.04% for US cats.³

Meeting customers where they shop

Healthy Paws, a provider of accident and illness pet insurance coverage for dogs and cats, is collaborating with pet supplies retailer PetSmart to improve accessibility to companion animal owners. The partnership will allow PetSmart customers to easily shop for a pet health insurance policy that meets their needs as part of the online shopping experience, and obtain a free quote for Healthy Paws plan.¹

"Pet parents trust PetSmart to deliver comprehensive care solutions for their beloved companions at every life stage, including support during unexpected events. We are thrilled to partner with Healthy Paws, a leader in pet insurance, to provide pet parents with access to Healthy Paws' accident and illness coverage that offers pet parents unmatched peace of mind," Rob Pace, senior vice president of Veterinary Health Services at PetSmart, said in a news release.¹

The Healthy Paws pet plans offer a seamless mobile claims process, no maximum annual or lifetime payouts, rapid reimbursement for covered expenses and empathetic customer service, according to the insurance company. Furthermore, these insurance plans are designed to facilitate pet care without financial barriers.¹

"We're excited to team up with PetSmart to expand access to pet insurance at a destination many pet parents already frequent for trusted products, services and advice," Alex Faynberg, executive vice president and head of Healthy Paws, said in the release.¹ "This partnership empowers animal lovers to protect their pets like family and safeguard against life's unforeseen health challenges."

Offering a new option for pet owners

adoro plans to enter the pet insurance market in the fourth quarter of 2025, according to a news release. Tricia Plouf, COO and cofounder of adoro, said the company saw a “huge opportunity” to serve an underpenetrated market.²

“We did not start adoro simply to participate in the market. We will offer a number of features and options that are not available today, and we look forward to adoro becoming a leading brand in the market," Plouf said in a news release.²

The full-stack agency will have underwriting capacity provided by Crum & Foster, a company with more than 20 years of pet insurance program experience. "We are proud to underwrite pet insurance policies for valued partners like adoro so they can deliver solutions to the marketplace to help pet owners manage the costs associated with their pets' health and well-being," Gary McGeddy, president, Crum & Foster accident and health division, said in the release.²

Gavin Friedman, CEO and cofounder of adoro, said the company “cannot image a better partner than Crum & Foster” in offering a product to pet owners. “From day one, the Crum &Foster team has demonstrated why they are so highly regarded and sought after as an insurance partner. Their underwriting capabilities and expertise will allow us to bring adoro's vision of elevating pet insurance to life," Friedman said in the release.²

adoro is capitalized by Griffin Highline Capital LLC and Badger Equity US LLC. "We have been looking for the right pet insurance opportunity in the US market for a number of years. We are confident that the adoro management team, with Crum & Forster as the carrier, provides the opportunity we've been looking for," Brad Hogan, founder, chairman and CEO of the Badger International Group of insurance companies, said in the release.²

Takeaway

According to Logan Bitter, leader of the NAPHIA’s 2025 SOI Report initiative and director of pet insurance at Physicians Mutual Insurance Company, a continuing launch of new pet insurance brands, combined with product innovations and regulatory efforts to make pet insurance laws more consistent across the US, are all contributing to the industry’s growth. “Over the past 5 years, the industry has experienced a combined growth rate of 20.8% in written premium,” Bitter said in a news release.³ “There is simply no other line of insurance and few other pet health products experiencing that level of ongoing growth.”

References

1. Healthy Paws partners with PetSmart to bring insurance where pet parents shop. News release. Chubb. August 12, 2025. Accessed August 12, 2025. https://prnmedia.prnewswire.com/news-releases/healthy-paws-partners-with-petsmart-to-bring-insurance-where-pet-parents-shop-302526899.html
2. adoro announces entry into pet insurance market. News release. adoro Pet Insurance Services. August 12, 2025. Accessed August 12, 2025. https://prnmedia.prnewswire.com/news-releases/adoro-announces-entry-into-pet-insurance-market-302527121.html
3. North American pet health insurance industry market reaches $5.2 billion in written premium. News release. North American Pet Health Insurance Association. April 22, 2025. Accessed August 12, 2025. https://naphia.org/news/naphia-news/soi-report-2025/