Pets Best Insurance

What Pets Best Insurance does

Pets Best Insurance Services, LLC is a U.S. pet insurance provider founded in 2005 in Boise, Idaho, by Dr. Jack L. Stephens, who earlier introduced pet insurance in the United States in 1981. The company underwrites accident-and-illness, accident-only, and optional routine care coverage for dogs and cats across all 50 U.S. states, with plans backed by American Pet Insurance Company, Independence American Insurance Company, Independence Pet Insurance Company, and MS Transverse Insurance Company. Core product differentiators include Direct Vet Pay (veterinarian is paid directly at the point of service), a 24/7 pet helpline, and customizable reimbursement (50%-90%), deductibles ($50-$2,000), and annual limits ($2,500 to unlimited), with no age restrictions on enrollment.

The company operates a cloud-based platform with native iOS and Android apps for policy management and digital claims submission, and exposes an enrollment API that supports real-time quoting, policy creation, and payment collection for third-party partners including PetDesk, Pawlicy Advisor, and Bindable. Distribution combines direct-to-consumer sales through its website and app, veterinary clinic referral partnerships with custom discount codes, employer voluntary benefits enrollment, an Impact Radius affiliate program, and shelter and rescue partner programs.

Revenue is generated from recurring monthly and annual subscription premiums across the in-force book of more than 900,000 insured pets, with more than $500 million in claims paid since inception. Pets Best was acquired by Synchrony Financial in 2019 and subsequently by Independence Pet Holdings in April 2024, where it now operates as a wholly-owned subsidiary alongside 14 other pet health brands including Pumpkin, Embrace, Spot, and PetPlace. Headcount is reported at 51-100 employees across offices in Boise (headquarters), Scottsdale, and Buffalo.

Name

Pets Best Insurance

Legal name

Pets Best Insurance Services, LLC

Website

https://petsbest.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

Pets Best Insurance Services, LLC is a U.S. pet insurance provider underwriting accident, illness, and wellness coverage for dogs and cats across all 50 states, serving more than 900,000 insured pets through direct, API, veterinary, employer, and affiliate distribution channels as a subsidiary of Independence Pet Holdings.

Ownership category

akta.pro rank

Product category

Pet Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Pet Insurance (FSAJAKAG)

Keywords

• Pet insurance plans
• Veterinary reimbursement coverage
• Accident illness policies
• Wellness care add-ons
• Dog cat insurance

Headquarters

HQ city

Boise

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Pet Insurance Premiums: Subscription-based revenue from monthly and annual pet insurance policy premiums. Policies cover accident, illness, and optional routine care for dogs and cats.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Pets Best Insurance underwrites and sells pet health insurance plans for dogs and cats, covering accidents, illnesses, and optional routine/wellness care. Policies are customized with selectable deductibles, reimbursement percentages, and annual benefit limits, with claims reimbursed directly to the pet owner or paid straight to the veterinary clinic via Direct Vet Pay. Plans are available in all 50 U.S. states and are underwritten by American Pet Insurance Company.

Product overview

Pets Best Insurance offers a portfolio of pet insurance products for dogs and cats across all 50 U.S. states. The core offerings consist of Accident & Illness Coverage (comprehensive protection) and Accident-Only Coverage (budget option), both with customizable deductibles, reimbursement rates, and annual limits. Optional Routine Care (Wellellness) add-on coverage is available to help with expected veterinary expenses. Additional features include 24/7 Emergency Vet Helpline and Direct Vet Pay. The company was founded in 2005, acquired by Synchrony in 2019, and subsequently acquired by Independence Pet Holdings in April 2024. Plans are underwritten by American Pet Insurance Company, Independence American Insurance Company, Independence Pet Insurance Company, and MS Transverse Insurance Company.

Differentiator

Problem solved

Functional benefit

Brands

• PetPlace: Pet health brand operated alongside Pets Best Insurance. PetPlace and Pets Best jointly honor pet rescues through the Heroic Hearts Collective award program.

Products and services

• Accident & Illness Coverage Core pet insurance product covering veterinary expenses for accidents (e.g., injuries, poisoning) and illnesses (e.g., infections, cancer, chronic conditions) for dogs and cats. Customers select deductible, reimbursement percentage, and annual benefit limit. Claims are reimbursed or paid direct to the vet.
• Accident-Only Coverage Lower-premium pet insurance limited to veterinary expenses resulting from accidents and injuries, for pet owners seeking basic, budget-friendly coverage. Available for dogs and cats.
• Routine Care Coverage / Wellness Plans Optional add-on coverage that reimburses routine and preventive veterinary services such as wellness exams, vaccinations, dental cleanings, and flea/heartworm prevention. Sold as an upgrade to an accident & illness or accident-only policy.
• Dog Insurance Pet insurance product line specifically for dogs, with premiums and plans customized based on breed, age, and location. Includes accident & illness, accident-only, and routine care options.
• Cat Insurance Pet insurance product line specifically for cats, with premiums and plans customized based on age and location. Includes accident & illness, accident-only, and routine care options.

Quantifiable outcome

• Cover up to 90% on eligible vet bills
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• BindablecoreTechnology or Integration · 15 October 2024API-enabled partnership allowing Bindable's distribution network of carriers, brokers, and insurance-adjacent businesses to access Pets Best pet insurance products through a digital quoting experience and Policy Crusher CRM tool. Aims to address the significant pet insurance protection gap in the U.S.
• BuddyIDminorGTM or Marketing Partner · 3 September 2024Partnership offering exclusive discounts to BuddyID members on Pets Best policies during National Pet Health Insurance Awareness Month. Integrates insurance options with microchip registration and recovery services.
• PetDeskcoreTechnology or IntegrationAPI partnership enabling PetDesk to connect pet parents to Pets Best pet insurance through their platform. Integration allows seamless access to affordability tools with reliable performance and support.
• Pawlicy AdvisorcoreTechnology or IntegrationAPI partnership allows Pawlicy Advisor to help pet parents access Pets Best insurance products in a streamlined, seamless manner. Pawlicy provides comparative analysis to help pet owners find best price with least friction.

Scale indicators3 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Trupanion: Trupanion is a publicly traded direct-to-consumer pet insurance provider offering accident and illness coverage for dogs and cats in North America. It is the closest comparable to Pets Best by product, customer base (individual pet owners), and digital-first distribution model.
• Spot Pet Insurance: Spot offers customizable accident, illness, and preventive care pet insurance plans for dogs and cats in the U.S. Like Pets Best and Embrace, Spot is owned by Independence Pet Holdings, making it a near-identical portfolio peer competing for the same policyholders.
• Pumpkin Pet Insurance: Pumpkin provides accident, illness, and optional wellness pet insurance for dogs and cats. As another Independence Pet Holdings portfolio brand alongside Pets Best, it competes head-to-head on product features, pricing, and digital UX in the same U.S. direct-to-consumer channel.
• Healthy Paws Pet Insurance: Healthy Paws offers unlimited lifetime accident and illness pet insurance for dogs and cats, sold directly online. It is a strong comparable to Pets Best in product simplicity and the DTC channel, with similar target customers and competitive pricing positioning.
• Petplan (Fetch): Fetch (formerly Petplan) offers accident, illness, and wellness pet insurance for dogs and cats in the U.S. with a focus on comprehensive coverage including exam fees. It is comparable to Pets Best on product breadth, target customer (U.S. pet owners), and digital-first distribution.
• Embrace Pet Insurance: Embrace offers accident, illness, and wellness pet insurance plans for dogs and cats directly to U.S. consumers. Notably, Embrace is also owned by Independence Pet Holdings, making it a direct intra-portfolio competitor to Pets Best with nearly identical product positioning.

Emerging players

• Figo Pet Insurance: Figo offers cloud-based pet insurance with a tech-forward mobile app and customizable accident/illness plans. It is a smaller emerging player competing in the same DTC pet insurance space as Pets Best, with overlapping customer base but smaller scale and brand awareness.
• Lemonade Pet Insurance: Lemonade is a digitally native InsurTech that has expanded into pet insurance as part of a multi-line platform, leveraging AI-driven underwriting and a unified mobile app. It is an emerging direct competitor to Pets Best in the DTC pet insurance space with strong brand recognition among younger consumers.

Broad incumbents

• ASPCA Pet Health Insurance: ASPCA Pet Health Insurance, underwritten by Crum & Forster, leverages the ASPCA brand to sell accident, illness, and wellness plans. It is a broader-market incumbent with similar product set and customer base to Pets Best, differentiated primarily by its nonprofit brand association.
• Nationwide Pet Insurance (formerly VPI): Nationwide is the largest U.S. pet insurance provider, offering plans as both an employee benefit and direct offering, and was the first to offer pet insurance in the U.S. It dwarfs Pets Best on scale and policy count, representing the dominant incumbent Pets Best must compete against for market share.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/petsbest
• YouTubeyoutube.com/petsbestinsurance
• Facebookfacebook.com/PetsBestInsurance
• LinkedInlinkedin.com/company/pets-best-insurance
• Instagraminstagram.com/petsbest
• Pinterestpinterest.com/petsbest

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Pets Best Insurance