Independence American Insurance

What Independence American Insurance does

Independence American Insurance Company (IAIC) is a pet-focused insurance underwriter headquartered in Wilmington, Delaware, that offers customizable insurance policies for cats and dogs across all 50 US states. Founded in 1973, the company has accumulated nearly 50 years of underwriting experience, with approximately 20 years specifically devoted to pet insurance. IAIC's product portfolio features shorter waiting periods, optional add-on coverages including Inherited and Congenital conditions, and an industry-leading pre-existing condition coverage mechanism that activates after 12 months. The company is rated A- (Excellent) by A.M. Best for both Financial Strength and Long-Term Issuer Credit, reflecting very strong balance sheet strength and appropriate enterprise risk management.

IAIC operates a cloud-based quoting, enrollment, and administrative platform that enables producers to underwrite and service policies efficiently. Distribution is structured around six B2B channel archetypes: individual pet insurance, employer group pet insurance (described as the first true group product in the market), broker networks, white label partnerships, MGA partnerships, and affinity partnerships. In the carrier-of-record model, IAIC provides financial backing, underwriting capacity, and regulatory licensure while partners handle customer acquisition, branding, and policy administration. A named underwriting partner relationship is Figo Pet Insurance, a tech-first pet insurer that has surpassed 200,000 policies and operates in all 50 US states, for which IAIC is one of three third-party underwriters.

Since 2024, IAIC has operated as a subsidiary of JAB Holdings BV, the Dutch diversified holding company, following JAB's $1.15 billion acquisition of Crum & Forster Pet Insurance Group and Pethealth Inc. from Fairfax Financial Holdings. The JAB platform posted a 135.4% year-over-year increase in pet insurance premium volume, reaching $188.1 million, with IAIC as the primary US carrier. The company also absorbed approximately 100,000 pets following Nationwide's June 2024 decision to cancel coverage, materially expanding the active policy base under JAB's ownership.

Name

Independence American Insurance

Legal name

Independence American Insurance Company

Website

https://independenceamerican.com

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

11–50 employees

Short description

Independence American Insurance Company is a Wilmington, Delaware-based pet insurance underwriter providing customizable cat and dog coverage across the US. A JAB Holdings BV subsidiary, it supplies underwriting capacity through individual, employer, broker, white label, MGA, and affinity channels.

Ownership category

akta.pro rank

Product category

Pet Insurance Underwriting

NAICS

Direct Property and Casualty Insurance Carriers (524126)

SIC

Insurance Carriers, Nec (6399)

akta.pro primary industry

Pet Insurance (FSAJAKAG)

akta.pro secondary industries

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL), Worksite Pet Insurance (FSAIAMAL)

Keywords

• Pet insurance underwriting
• Customizable pet coverage
• Employer group benefits
• White label insurance
• MGA partnerships

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premium Revenue: Generates revenue through insurance premiums as a pet insurance underwriter. Operates as a subsidiary of JAB Holdings, which acquired Crum & Forster Pet Insurance Group and Pethealth Inc., expanding Independence American's premium volume significantly.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels1 record

Core offering

Independence American Insurance Company is a pet-focused underwriter that provides customizable pet insurance policies for cats and dogs, distributed through individual, employer group, broker, white label, MGA, and affinity partner channels. The company underwrites and provides financial capacity for pet insurance products, including policies with shorter waiting periods, pre-existing condition coverage after 12 months, and optional add-on coverage such as Inherited and Congenital conditions.

Product overview

Independence American Insurance Company is a pet-focused insurance underwriter offering a comprehensive portfolio of pet insurance products. The company operates a platform-based model centered on Individual Pet Insurance (customizable policies for pet owners) and Employer Group Pet Insurance (the first true employer group product in the market), supported by distribution through Brokers. Additionally, the company offers White Label Partnerships, MGA Partnerships, and Affinity Partners programs, enabling third-party organizations to brand and distribute pet insurance under their own identity using IAIC's underwriting infrastructure. All products feature cloud-based quoting, enrollment, and administrative capabilities, with innovative pre-existing condition coverage after 12 months.

Differentiator

Problem solved

Functional benefit

Products and services

• Individual Pet Insurance Customizable pet insurance policies offered to individual pet owners for cats and dogs, featuring shorter waiting periods and industry-leading pre-existing condition coverage after 12 months, with optional add-on policies such as Inherited and Congenital coverage to meet any budget and pet's needs.
• Employer Group Pet Insurance The first true employer group pet insurance product in the market, designed to be easy to quote, customizable, and benefit-administrator friendly, enabling employers to offer pet insurance as an employee benefit.
• Broker Pet Insurance Group pet insurance product designed for insurance brokers with easy quoting, customizable coverage, and benefit-administrator friendly features to support distribution to employer and group clients.
• White Label Pet Insurance White label pet insurance product built and branded exclusively for partner organizations to offer co-branded pet insurance under their own brand, leveraging Independence American's underwriting infrastructure and A.M. Best A- rating.
• MGA Partnership Pet Insurance Partnership offering for Managing General Agents to leverage Independence American's nearly 50 years of underwriting experience and A.M. Best A- rating while designing and managing their own unique pet insurance products.
• Affinity Partner Pet Insurance Co-branded pet insurance products developed with affinity associations, organizations, and unions to offer pet insurance as a member benefit, leveraging Independence American's underwriting capacity and A.M. Best A- rating.

Quantifiable outcome

• First true employer group pet insurance product in the market
• +1 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• Figo Pet InsurancecoreTechnology or IntegrationFigo Pet Insurance is a tech-first pet insurance provider operating since 2012, offering policies in all 50 US states. Figo administers its own policies but collaborates with Independence American Insurance Company as one of three third-party underwriters to provide financial guarantees for policies. Figo has surpassed 200,000 pet insurance policies and reimbursed over $80 million in vet bills.
• Crum & Forster Pet Insurance GroupcoreStrategic or Co-development PartnerCrum & Forster Pet Insurance Group was acquired by JAB Holdings as part of a $1.15 billion transaction from Fairfax Financial Holdings. The acquisition expanded JAB Holdings' pet insurance portfolio through subsidiaries including Independence American Insurance.
• Pethealth Inc.coreStrategic or Co-development PartnerPethealth Inc. was acquired by JAB Holdings as part of the $1.15 billion transaction from Fairfax Financial Holdings, along with Crum & Forster Pet Insurance Group. The acquisition expanded JAB Holdings' pet insurance ecosystem.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• MetLife Pet Insurance: MetLife Pet Insurance (formerly PetFirst) offers pet insurance products distributed primarily through employer/worksite channels. Comparable as a large incumbent leveraging employer group and partner distribution for pet insurance, with broader insurance industry scale and resources.
• Lemonade: Lemonade is an AI-native insurtech offering pet insurance as one of several product lines (alongside renters, home, life), using a digital-first model with embedded partner integrations. Comparable as a tech-enabled pet insurance carrier leveraging embedded and partner distribution, though within a much broader multi-line portfolio.
• Nationwide Pet Insurance: Nationwide is the largest US pet insurance carrier, recently cancelling coverage for approximately 100,000 pets (June 2024), which created an inflow that Independence American absorbed. Comparable as a major incumbent in the same pet insurance market with broader product portfolio and scale advantages.

Direct peers

• Figo Pet Insurance: Figo is a tech-first pet insurance provider operating in all 50 US states that partners with Independence American as one of its three underwriting carriers. Closely comparable as a pet insurance distributor that uses IAIC's underwriting capacity; also a competitor for similar multi-channel pet distribution.
• Pets Best Insurance: Pets Best is a pet insurance carrier offering customizable accident and illness coverage for cats and dogs across the US. Directly comparable as a pet-focused insurance carrier with customizable policies and partner distribution channels similar to Independence American.
• Healthy Paws Pet Insurance: Healthy Paws is a US pet insurance carrier offering accident, illness and hereditary coverage with no caps on payouts. Directly comparable pure-play pet insurance underwriter competing for similar partner distribution relationships.
• Trupanion: Trupanion is a publicly-listed pet insurance carrier that directly underwrites pet medical insurance policies in the US and internationally. Highly comparable as a direct pet insurance underwriter with similar underwriting-focused model, making it the closest pure-play peer for Independence American's core pet insurance business.
• ASPCA Pet Health Insurance: ASPCA Pet Health Insurance is underwritten by Crum & Forster (IAIC's sister company under JAB Holdings) and offers pet insurance through affinity and partner channels. Extremely comparable pet insurance carrier operating within the same JAB Holdings family and partner distribution ecosystem.
• Embrace Pet Insurance: Embrace is a US pet insurance carrier underwritten by an A.M. Best A-rated carrier, offering accident, illness and wellness policies. Directly comparable pet insurance underwriter with customizable coverage and partner distribution similar to Independence American's model.
• Petplan: Petplan (Fetch by Petplan in the US) is a pet insurance carrier offering accident and illness coverage with customizable options and partner distribution. Directly comparable pet-focused insurance underwriter targeting similar customer segments and distribution channels.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/independence-american-insurance-company

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Independence American Insurance