American Pet Insurance Company

What American Pet Insurance Company does

American Pet Insurance Company (APIC) is an admitted New York-domiciled property and casualty insurance company that underwrites exclusively pet health insurance in the United States. Founded prior to 2007 and acquired by Trupanion, Inc. (NASDAQ: TRUP) in April 2007 for $22 million financed by Maveron, APIC is a wholly owned subsidiary of Trupanion and operates as the dedicated U.S. underwriting vehicle for the Trupanion group's pet health insurance programs. The company maintains nationwide admitted P&C licenses and describes itself as the only national carrier solely focused on pet health insurance underwriting in the United States.

APIC functions as a B2B underwriting platform rather than a direct-to-consumer insurer: it does not solicit policyholders directly, instead sourcing and underwriting business through fully licensed and appointed Managing General Agents (MGAs). The platform currently underwrites two named programs — Pets Best (distributed direct-to-consumer via large employers and bundled insurance products) and the Trupanion-branded program (distributed primarily through veterinarians via regional representatives) — and supports these programs with shared services across underwriting, claims, actuarial, operations, systems, auditing, accounting, and financial disciplines. APIC's underlying technology stack is conventional: secure web infrastructure (SSL, secure servers), customer-care portal, and basic web analytics (Google Analytics, DoubleClick) for behavioral targeting. There is no mobile app, no public or partner-facing API, and no AI/ML capability disclosed.

APIC's revenue model rests on (1) recurring pet health insurance premiums that flow through APIC as the admitted insurer for policies sold by its MGA partners, supplemented by (2) risk participation and profit-sharing economics with those partners. Pricing mechanics are set at the partner level rather than disclosed at the APIC level; end-policyholder pricing therefore varies by program (Pets Best uses annual terms with installment fees, deductible options of $50–$1,000, and coinsurance options of 10/20/30%; Trupanion uses monthly terms with a per-condition deductible, fixed-at-enrollment age factor, and 10% coinsurance). The customer base at the entity level is extremely concentrated, effectively comprising two MGA partners (one of which is an affiliated Trupanion program), with all policyholder relationships mediated by those MGAs.

Name

American Pet Insurance Company

Legal name

American Pet Insurance Company

Website

https://americanpetinsurance.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

American Pet Insurance Company (APIC) is a New York-domiciled, admitted U.S. property and casualty insurer that underwrites exclusively pet health insurance for Managing General Agent partners (notably Pets Best and the Trupanion-branded program), serving as the captive underwriting vehicle for parent Trupanion, Inc.

Ownership category

akta.pro rank

Product category

Pet Health Insurance Underwriting

NAICS

Insurance Carriers (5241)

SIC

Insurance Carriers, Nec (6399)

akta.pro primary industry

Pet Insurance (FSAJAKAG)

akta.pro secondary industry

Accident & Supplemental (Non-Life) Insurance (FSAJAKAA)

Keywords

• Pet health insurance
• Insurance underwriting
• Property casualty insurance
• Managing general agent
• Admitted insurance carrier

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Pet health insurance underwriting premiums: APIC underwrites pet health insurance policies sold by its program partners (MGAs). Premiums from policyholders flow through APIC as the admitted insurer, generating recurring premium revenue. APIC shares underwriting profits with partners via risk participation or profit sharing arrangements.
2. Risk participation and profit sharing economics: APIC aligns interests on underwriting profits with its program partners through financial incentives structured as either risk participation or profit sharing, in addition to MGA commissions.

Pricing tiers

Go-to-market motion1 record

Core offering

American Pet Insurance Company (APIC) is an admitted New York-domiciled property and casualty insurance company that specializes exclusively in underwriting pet health insurance in the United States. Operating as a B2B underwriting platform, APIC provides specialized underwriting, claims, actuarial, operations, systems, auditing, accounting, and financial services to fully licensed and appointed Managing General Agents (MGAs) and program partners. The company aligns with partners via risk participation or profit-sharing incentives on underwriting profits.

Product overview

American Pet Insurance Company (APIC) operates as a single, B2B underwriting platform rather than a multi-module SaaS product: it is an admitted New York-domiciled property and casualty insurer that specializes exclusively in underwriting pet health insurance for distribution partners across the United States. The platform powers two distinct brand programs exposed to end customers — Pets Best (direct-to-consumer via large employers and bundled insurance products) and Trupanion (primarily veterinarian-driven via regional representatives) — and backstops both with shared services in underwriting, claims, actuarial, operations, systems, auditing, accounting, and financial disciplines. APIC does not solicit business directly; all policies flow through fully licensed and appointed Managing General Agents (MGAs), with risk participation and profit-sharing used to align partner incentives.

Differentiator

Problem solved

Functional benefit

Products and services

• APIC Underwriting Platform A New York-domiciled, admitted property and casualty insurance underwriting platform that exclusively underwrites pet health insurance for distribution partners across the United States. APIC provides underwriting, claims, actuarial, operations, systems, auditing, accounting, and financial services to MGAs and program partners, with risk participation and profit-sharing alignment.
• Pets Best Pet Health Insurance A pet health insurance program underwritten by APIC and distributed primarily direct-to-consumer via large employers and bundled insurance products. Offers accident-only and accident and illness coverage, optional wellness/routine care and dental, hereditary/congenital coverage, with annual deductible structure, multiple coinsurance and deductible options for dogs and cats older than 7 weeks.
• Trupanion Pet Health Insurance A pet health insurance program underwritten by APIC and distributed primarily through veterinarians via regional representatives. Offers accident and illness coverage with per-condition deductible, no payout limit, fixed-at-enrollment age factor, optional behavioral therapy and alternative care, and prescription drug coverage for dogs and cats 8 weeks to 14 years old.

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Pets Best: Pet health insurance program whose policies are underwritten by APIC and distributed direct-to-consumer via employers and bundled products. Direct operating peer in the US pet insurance underwriting/distribution stack.
• Trupanion: Publicly traded parent company (NASDAQ: TRUP) and itself a pet health insurance provider. APIC underwrites Trupanion-branded policies, making it directly comparable as a US pet health insurance underwriter with overlapping products, actuarial exposure, and customer base.
• ASPCA Pet Health Insurance: US pet health insurance program administered by a licensed underwriter and marketed under the ASPCA brand. Comparable as a brand-led pet insurance program with accident, illness, and wellness coverage options.
• Embrace Pet Insurance: US pet health insurance carrier offering accident, illness, and wellness coverage to dogs and cats. Comparable to APIC's Pets Best/Trupanion programs as a direct-to-consumer underwriter in the same US market.
• Petplan: Pet health insurance provider offering accident, illness, and wellness coverage in the US and Canada. Comparable to APIC's programs as a cross-border pet insurance underwriter targeting dog and cat owners.
• Healthy Paws Pet Insurance: US pet health insurance provider offering accident and illness coverage with no caps on payouts. Comparable to APIC's Trupanion-branded program in product structure (per-condition deductible, no payout limits) and target market.

Broad incumbents

• Nationwide Pet Insurance: Largest US pet insurance provider, offered as part of Nationwide's broad P&C and financial services portfolio. Comparable in product line (accident, illness, wellness) but operates at much greater scale as a multi-line incumbent.
• Lemonade (Pet Insurance): Publicly traded insurtech offering pet insurance alongside renters, homeowners, and life. Comparable as a multi-line insurer using a B2C tech-led model that competes with APIC's MGA-sold programs for the same US pet owners.

Emerging players

• Spot Pet Insurance: Digital-first US pet insurance carrier offering accident, illness, and preventive plans. Comparable as a growing direct-to-consumer competitor to APIC-underwritten programs.
• Figo Pet Insurance: Tech-forward US pet insurance carrier with cloud-based claims and direct-to-consumer distribution. Comparable to APIC's MGA-driven model in product category and target customer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

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

Revenue estimate

Valuation estimate

Number of profiles

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 American Pet Insurance Company