Independence Pet Group

What Independence Pet Group does

Independence Pet Group (IPG) is a Delaware-incorporated, JAB Holding Company–backed pet insurance platform formed in 2021, legally structured as Independence Pet Holdings, Inc. with principal offices in Raleigh, North Carolina and Chicago, Illinois, and additional operations in Scottsdale, Arizona. The company operates a multi-brand portfolio — Figo, Felix Cat Insurance, ASPCA Pet Health Insurance, AKC Pet Insurance, PetPartners, Hartville Pet Insurance, and PetsPlusUs — together with pet-services and technology assets (PetCloud, PetKey, 24Pet, PetPlace.com, Pethealth Inc., Crum & Forster Pet Insurance Group) and an owned underwriting carrier (Independence American Insurance Company). Together these brands support insurance coverage for more than 800,000 pets across the U.S. and Canada, and the platform is HIPAA-compliant for protected health information.

IPG's products span accident-and-illness pet insurance, group employer pet benefits (PetPartners' "first true group pet insurance" product), and adjacent pet-services offerings such as microchipping and cloud-based pet care platforms. Core technology and proprietary platform details are not disclosed in the public material reviewed; the HIPAA Privacy Notice, claims handling, and partner-solutions infrastructure are the primary technology-related signals.

Revenue is generated primarily through recurring insurance premiums from individual pet owners, supplemented by reinsurance arrangements and partner-channel revenue from white-label, MGA, and affinity programs. Go-to-market is a hybrid D2C plus B2B model: consumer brands sell direct to pet parents, while employer group, white-label, MGA, and affinity channels distribute IPG-underwritten or co-branded products to third-party customer bases. Top-3 U.S. market-share ranking, $1.4B Fairfax acquisition, and $55.6M 2023 capital raise position IPG as one of the three largest pet insurance platforms in North America alongside Trupanion and Nationwide.

Name

Independence Pet Group

Legal name

Independence Pet Holdings, Inc.

Website

https://independencepetgroup.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Independence Pet Group is a JAB Holding–backed, multi-brand pet insurance platform supporting over 800,000 pets across the U.S. and Canada. It sells direct-to-consumer, employer group, white-label, MGA, and affinity insurance products through brands including Figo, Felix, ASPCA, AKC, PetPartners, Hartville, and PetsPlusUs.

Ownership category

akta.pro rank

Product category

Pet Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Accident & Health Insurance (6321)

akta.pro industry

PRIMARYFSAJAKAG

Pet Insurance

Financial & Insurance/Insurance — Motor, Property & Casualty/Pet Insurance

SECONDARYFSAJAKAA

Accident & Supplemental (Non-Life) Insurance

Financial & Insurance/Insurance — Motor, Property & Casualty/Pet Insurance

SECONDARYBPAMAHAI

Pet Care & Pet Services Platforms (Sitting, Walking, Grooming)

Business & Public Services/Web, Mobile & Digital Platforms/On-Demand, Gig & Local Services Platforms

Keywords

• Pet insurance
• Group pet insurance
• White label insurance
• MGA partnerships
• Cat and dog insurance

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Pet Insurance Premiums: IPG generates revenue primarily through the collection of insurance premiums from pet owners across its portfolio of brands. Policyholders pay recurring premiums (monthly or annual) in exchange for pet insurance coverage. The company also generates revenue through reinsurance arrangements as part of its business model.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

Independence Pet Group is an integrated, full-stack pet insurance and services platform that underwrites, markets, and distributes pet health insurance products for dogs and cats through a portfolio of consumer-facing brands (Figo, Felix Cat Insurance, ASPCA Pet Health Insurance, AKC Pet Insurance, PetPartners, Hartville, PetsPlusUs) and B2B channels (employer group plans, white-label, MGA, and affinity partner solutions). The company also provides related pet services such as microchipping (PetKey) and pet cloud services (PetCloud), with insurance coverage for more than 800,000 pets in the U.S. and Canada.

Product overview

Independence Pet Group (IPG) is a platform organization comprising multiple pet insurance brands that collectively support insurance for over 800,000 pets in the U.S. and Canada. The company operates as a multi-brand portfolio rather than a single unified product, with each acquired and developed brand serving different market segments. Core brands include Figo Pet Insurance (largest independent U.S. provider), Felix Cat Insurance (specialized cat coverage), ASPCA Pet Health Insurance, AKC Pet Insurance, PetPartners (known for group insurance), Hartville, PetsPlusUs, and subsidiaries including Independence American Insurance Company, 24Pet, Pethealth Inc., and PetPlace.com. The company provides comprehensive underwriting options, turnkey partner solutions, and consumer-facing insurance products throughout North America.

Differentiator

Problem solved

Functional benefit

Brands

• Figo Pet Insurance: Pet insurance provider, one of the brands in IPG's portfolio
• Felix Cat Insurance
• ASPCA Pet Health Insurance
• AKC Pet Insurance
• Pets Plus Us
• PetPartners
• Hartville Pet Insurance
• PetCloud
• PetKey
• 24Pet
• PetPlace.com
• Independence American Insurance Company
• Third Party Pet

Products and services

• Figo Pet Insurance Pet insurance brand offering coverage for dogs and cats, noted as the largest independent U.S. pet insurance provider.
• Felix Cat Insurance Specialized cat insurance brand focused on the underrepresented but rapidly growing market of insured cats in the U.S.
• ASPCA Pet Health Insurance Pet insurance brand offered in partnership with the American Society for the Prevention of Cruelty to Animals (ASPCA).
• AKC Pet Insurance Pet insurance brand affiliated with the American Kennel Club, providing coverage for purebred and mixed-breed dogs.
• PetsPlusUs Pet insurance brand offering coverage options for pet owners across the U.S.
• PetPartners Pet insurance brand known for launching the industry's first true group pet insurance product for employers and offering comprehensive pre-existing condition coverage.
• Hartville Pet Insurance Pet insurance brand offering coverage options for pets in the U.S.
• PetCloud Pet services platform offering various pet-related digital services.
• PetKey Pet-related services platform offering microchipping and pet recovery services.
• Third Party Pet Third-party pet insurance administration services for partner organizations.
• Independence American Insurance Company Insurance company subsidiary within the IPG family providing pet insurance underwriting capabilities.
• Pethealth Inc. Pet health services and database company acquired from Fairfax Financial Holdings and integrated into IPG's North American platform.
• Crum & Forster Pet Insurance Group Pet insurance company acquired from Fairfax Financial Holdings for $1.4 billion as part of IPG's expansion.

Quantifiable outcome

• Insurance coverage for over 800,000 pets across the U.S. and Canada

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• The Connected Pet CompanyminorOthers · 18 September 2023Independence Pet Group announced plans to acquire Felix, a US-based pet insurance brand focused exclusively on cats, from The Connected Pet Company. The transaction aimed to expand IPG's presence in the growing but underrepresented market of insured cats.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Trupanion: Trupanion is one of the top US pet insurance carriers and is explicitly named alongside IPG and Nationwide in the top 3 US market share ranking. It offers direct-to-consumer accident and illness coverage with a proprietary software platform (vet-direct pay), making it a direct competitor in the same product category and customer segment.
• Pets Best Pet Insurance: Pets Best is a US pet insurance carrier offering accident, illness, and wellness plans through both direct and veterinary channel distribution. It overlaps with IPG's portfolio in product mix and D2C distribution, and is comparable in size and target customer.
• Healthy Paws Pet Insurance: Healthy Paws is a US pet insurance carrier focused on accident and illness coverage for cats and dogs. It competes head-to-head with IPG's Figo, ASPCA, and PetsPlusUs brands on premium pricing, coverage breadth, and claims experience for individual pet owners.
• Embrace Pet Insurance: Embrace is a US pet insurance carrier offering accident, illness, and wellness plans to individual pet owners. It is a direct competitor to IPG's consumer brands (Figo, ASPCA, AKC) in the D2C channel and overlaps closely on product design and customer demographic.
• Fetch (formerly Petplan): Fetch is one of the longest-running US pet insurance brands, offering accident, illness, and wellness coverage for dogs and cats. It competes with IPG's consumer brands across price points and benefits, including comprehensive illness coverage that overlaps with PetPartners' offering.

Emerging players

• Lemonade: Lemonade is an insurtech carrier that has expanded into pet insurance as part of a multi-line AI-driven platform. It represents an emerging tech-native competitor challenging IPG's traditional multi-brand portfolio, particularly with younger, mobile-first pet owners.
• Spot Pet Insurance: Spot is a US pet insurance carrier known for customizable accident and illness plans. As a digitally native challenger, it competes with IPG's D2C brands on price transparency and digital experience, particularly for new pet owners shopping online.

Broad incumbents

• Nationwide Pet Insurance: Nationwide is the legacy incumbent in US pet insurance and rounds out the top 3 US market share ranking alongside IPG and Trupanion. As part of a much larger property & casualty carrier, it offers pet insurance as one product within a broader portfolio, competing with IPG across both individual and employer channels.
• MetLife Pet Insurance: MetLife offers pet insurance as part of its broader employee benefits and individual insurance portfolio. It competes with IPG in both the individual D2C channel and the employer group channel, leveraging MetLife's much larger brand and distribution footprint.

Regional players

• Petplan (UK/International): Petplan is the dominant UK pet insurance carrier and offers a useful international comparable for IPG's PetsPlusUs Canadian brand. It illustrates a higher-penetration pet insurance market and provides a benchmark for product design and bundling strategies that may inform IPG's US growth playbook.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries15 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Independence Pet Group