Figo Pet Insurance
Figo Pet Insurance is a Chicago-based managing general agent operating a cloud-based pet insurance platform serving over 200,000 U.S. policyholders across all 50 states, with modular subscription plans, Pet Cloud mobile app, and Netherlands distribution partnership, offloading underwriting risk to third-party carriers.
- Company typePrivate
- Founded2012
- HeadquartersChicago, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Figo Pet Insurance does
Figo Pet Insurance LLC is a Chicago-based, privately held managing general agent and program administrator for pet health insurance, founded in 2012 and operating across all 50 U.S. states plus a Netherlands distribution partnership. The company sells accident, illness, and emergency veterinary coverage for cats and dogs through a direct-to-consumer digital channel, structured around three subscription tiers — Essential ($5,000 annual limit), Preferred ($10,000), and Ultimate (unlimited) — supplemented by optional Powerup add-ons (Wellness, Veterinary Exam Fees, Extra Care Pack). Pricing is customized by breed, age, location, deductible ($100-$1,000+) and reimbursement rate (70%-100%), with monthly billing creating recurring premium revenue.
The company's core technology asset is Pet Cloud, a proprietary mobile platform that handles policy management, digital claims submission, pet health record storage, and 24/7 Live Vet access to licensed veterinary professionals. Most claims are processed and closed within three business days per company disclosures. Underwriting risk is offloaded to three third-party insurance partners — Independence American Insurance Company, Markel Insurance Company, and Markel American Insurance Company — meaning Figo captures commission and fee economics rather than bearing insurance risk directly.
Commercially, Figo operates a hybrid go-to-market combining direct-to-consumer self-serve web/app sales with channel partnerships, most notably Synchrony Financial's CareCredit (reaching approximately 85% of U.S. veterinary practices) and Pet Service Holding N.V. for Netherlands distribution with planned Germany expansion. The company has raised approximately $18M across four funding rounds from 2014 to 2019 (MGG Investment Group, HCS Capital, The IHC Group), and serves over 200,000 active policyholders with $80M+ in cumulative veterinary reimbursements since inception. Third-party validation includes Newsweek (Best for 100% Reimbursement, 2024), Pawlicy Advisor, and New York Times Wirecutter recommendations.
Figo Pet Insurance firmographics
Firmographics- Name
- Figo Pet Insurance
- Legal name
- Figo Pet Insurance LLC
- Website
- https://figopetinsurance.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Figo Pet Insurance is a Chicago-based managing general agent operating a cloud-based pet insurance platform serving over 200,000 U.S. policyholders across all 50 states, with modular subscription plans, Pet Cloud mobile app, and Netherlands distribution partnership, offloading underwriting risk to third-party carriers.
- Ownership category
- akta.pro rank
Figo Pet Insurance industry classification
Industry- Product category
- Pet Insurance
- NAICS
- Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Property and Casualty Insurance Carriers (524126)
- SIC
- Fire, Marine & Casualty Insurance (6331)
- akta.pro primary industry
- Pet Insurance (FSAJAKAG)
- akta.pro secondary industry
- Worksite Pet Insurance (FSAIAMAL)
Keywords
Where Figo Pet Insurance is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Figo Pet Insurance business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Pet Insurance Premiums: Figo generates revenue through subscription-based pet insurance premiums paid monthly by policyholders. Customers select from tiered plans (Essential, Preferred, Ultimate) with customizable deductibles and reimbursement rates, creating a recurring revenue stream from active policies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Essential Plan - $5,000 annual coverage limit |
| Subscription | Monthly | Preferred Plan - $10,000 annual coverage limit |
| Subscription | Monthly | Ultimate Plan - Unlimited annual coverage |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
Figo Pet Insurance product offering
Product offeringCore offering
Figo Pet Insurance sells subscription-based pet health insurance policies for cats and dogs across all 50 US states, available in three tiers (Essential $5,000 annual limit, Preferred $10,000, Ultimate unlimited) with customizable deductibles and reimbursement rates. Policies are administered through the proprietary Pet Cloud platform, which provides mobile policy management, digital claims submission, and 24/7 Live Vet access, and are underwritten by Independence American Insurance Company, Markel Insurance Company, and Markel American Insurance Company.
Product overview
Figo Pet Insurance offers a modular pet insurance platform with three core plan tiers (Essential, Preferred, and Ultimate) differentiated by annual coverage limits ranging from $5,000 to unlimited. The core product is supplemented by optional Powerup add-ons (Wellness, Veterinary Exam Fees, Extra Care Pack) that provide additional coverage customization. All policies are administered through the proprietary Pet Cloud technology platform, which provides the claims submission infrastructure, 24/7 Live Vet access, and pet health record management. The company operates as a tech-first insurer, having surpassed 200,000 policies since its 2012 founding, with policies underwritten by Independence American Insurance Company and administered in all 50 U.S. states.
Differentiator
Problem solved
Functional benefit
Brands
- Pet Cloud: Figo's proprietary technology platform providing 24/7 access to licensed veterinary professionals, claims submission, and pet health data management tools.
Products and services
- Pet Insurance Subscription-based pet insurance for cats and dogs offered to individual pet owners across all 50 US states, with coverage extending to licensed veterinarians in the US, Canada, and Puerto Rico. Includes accidents, illnesses, emergencies, curable pre-existing conditions after a 12-month symptom-free waiting period, and customizable deductibles ($100–$1,000+) and reimbursement rates (70%–100%). Underwritten by Independence American Insurance Company with administration through the Pet Cloud platform.
- Pet Cloud Technology platform included with Figo policies that provides 24/7 access to licensed veterinary professionals, digital claims submission and tracking, pet health record management, and a directory of pet-friendly locations including veterinary hospitals, parks, and businesses.
Quantifiable outcome
- Most claims process and close within 3 business days
- +1 more outcomes
Companies that use Figo Pet Insurance
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Figo Pet Insurance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature2 records
Figo Pet Insurance partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core.
- Synchrony Financial (CareCredit)coreFigo partners with Synchrony Financial's CareCredit healthcare financing platform to offer flexible payment options for pet insurance premiums. CareCredit enables pet owners to finance their pet care expenses through a dedicated healthcare credit card, integrated into Figo's customer payment options.
- Pet Service Holding N.V.coreMulti-year strategic distribution partnership enabling Figo pet insurance products to be offered to pet owners in the Netherlands. Pet Service Holding N.V. serves as the authorized distribution partner, leveraging local market expertise and existing distribution channels to serve Dutch pet owners.
- Independence American Insurance CompanycoreIndependence American Insurance Company serves as one of Figo's primary insurance underwriters, providing the financial backing and risk-bearing capacity for pet insurance policies sold in certain states.
- Markel Insurance CompanycoreMarkel Insurance Company provides insurance underwriting capacity for Figo pet insurance policies in certain jurisdictions, functioning as a risk-bearing partner that enables Figo to offer coverage.
- Markel American Insurance CompanycoreMarkel American Insurance Company, an affiliate of Markel Insurance Company, serves as an additional underwriter for Figo pet insurance products in specific markets, expanding the company's risk distribution capabilities.
Scale indicators3 records
Recent moves5 records
Expansion highlights5 records
Figo Pet Insurance competitors and assessment
Company assessmentDirect peers
- Trupanion: Public direct-to-consumer pet insurance company offering similar accident-and-illness coverage for cats and dogs. Closest US-listed comparable to Figo on product design, target customer, and distribution model.
- Embrace Pet Insurance: Direct-to-consumer pet insurance provider offering customizable accident-and-illness plans with optional wellness add-ons. Competes head-to-head with Figo in tiered-plan positioning and digital customer experience.
- Pets Best: Direct-to-consumer pet insurance carrier offering tiered accident-and-illness plans with optional wellness add-ons, similar to Figo's Essential/Preferred/Ultimate structure and Powerups.
- Healthy Paws Pet Insurance: Direct-to-consumer pet insurance brand (now part of Trupanion) offering unlimited lifetime benefits and fast claims — directly comparable to Figo's Ultimate plan and speed-of-claims positioning.
- Pumpkin Pet Insurance: Direct-to-consumer pet insurance carrier offering accident-and-illness coverage with optional preventive add-ons. Targets similar pet parents as Figo and overlaps on customizable coverage and digital UX.
- ASPCA Pet Health Insurance: Pet insurance program leveraging the ASPCA brand, administered by Crum & Forster. Competes with Figo in the same accident-and-illness category with tiered plans and wellness add-ons.
Broad incumbents
- Lemonade: Public AI-native insurance carrier offering pet insurance alongside renters, home, and life. While multi-line, Lemonade's pet product directly competes with Figo on mobile UX, fast claims, and millennial/Gen Z positioning.
- MetLife Pet Insurance: National insurance brand offering pet insurance with customizable coverage and discounts. Competes with Figo primarily on brand trust and employer/worksite channels rather than tech differentiation.
- Nationwide Pet Insurance: One of the largest US pet insurance providers, traditionally distributed through veterinary practices and employers. Overlaps with Figo on accident-and-illness coverage and competes on nationwide scale and brand.
Emerging players
- Spot Pet Insurance: Direct-to-consumer pet insurance provider offering accident-and-illness plans with optional preventive care. Comparable digital-first positioning to Figo, though smaller in scale and younger in operating history.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Figo Pet Insurance social profiles
Digital presenceFigo Pet Insurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Figo Pet Insurance leadership team
Management profileNumber of profiles
Profiles7 records
Figo Pet Insurance funding detail
Funding detailFunding overview
Funding rounds4 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Figo Pet Insurance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Figo Pet Insurance
What does Figo Pet Insurance do?
Figo Pet Insurance sells subscription-based pet health insurance policies for cats and dogs across all 50 US states, available in three tiers (Essential $5,000 annual limit, Preferred $10,000, Ultimate unlimited) with customizable deductibles and reimbursement rates. Policies are administered through the proprietary Pet Cloud platform, which provides mobile policy management, digital claims submission, and 24/7 Live Vet access, and are underwritten by Independence American Insurance Company, Markel Insurance Company, and Markel American Insurance Company.
Is Figo Pet Insurance a public or private company?
Figo Pet Insurance is a private company. It is classified as venture growth investor backed and is currently operating.
When was Figo Pet Insurance founded?
Figo Pet Insurance was founded in 2012. It employs 101 to 250 people.
Where is Figo Pet Insurance based?
Figo Pet Insurance is headquartered in Chicago, United States, in the North America region.
How does Figo Pet Insurance make money?
One revenue line is on record: pet Insurance Premiums.
Who are Figo Pet Insurance's main competitors?
Direct peers on record are Trupanion, Embrace Pet Insurance, Pets Best, Healthy Paws Pet Insurance, Pumpkin Pet Insurance and ASPCA Pet Health Insurance. Broad incumbents are Lemonade, MetLife Pet Insurance and Nationwide Pet Insurance. Spot Pet Insurance is listed as an emerging player.
Does Figo Pet Insurance have an API?
No public API is recorded for Figo Pet Insurance.
What industry is Figo Pet Insurance in?
Figo Pet Insurance's product category is Pet Insurance. Its primary akta.pro industry code is FSAJAKAG, Pet Insurance, with a secondary code of FSAIAMAL, Worksite Pet Insurance. Its NAICS code is 52412 and its SIC code is 6331.