Zoetis (NYSE: ZTS), the world’s largest manufacturer of animal drugs and vaccines with global sales of $6.3B in 2019 recently launched a new Pet Health startup called Pumpkin which offers Pet Insurance for both Cats and Dogs.
Pet Insurance is currently available in only a limited number of states (approximately 30 U.S. states as of late April). Pumpkin plans to offer Pet Insurance policies nationwide in the future.
Pumpkin also offers optional monthly Preventive Care plans for pets which includes an annual Wellness Exam, one or two Vaccines at your veterinary provider and DIRECT shipments (Direct-to-Consumer) of Parasiticide Medicines that are delivered year-round (twice per year) from Zoetis to the pet owners home.
–PUMPKIN PET INSURANCE:
–ZOETIS PRESS RELEASE: Innovative New Pet Health Start-up, Pumpkin Insurance Services, Launches in the U.S. (4.30.20)
–LIST OF PET INSURANCE PROVIDERS:
According to the North American Pet Health Insurance Association (NAPHIA) 2.82 million pets were insured in North America at the end of 2019 which represents a 22.1% average annual growth rate.