BOISE, Idaho – Pets Best Insurance Services, LLC, is celebrating its 10th birthday in September, marking a decade’s worth of happy customers and healthy pets.
The milestone comes at the same time as the North American Pet Health Insurance Association’s (NAPHIA) Pet Health Insurance Month, a potent two-pronged reminder of how far Pets Best and the pet insurance industry have come in battling economic euthanasia.
As part of its 10-year anniversary, Pets Best is reflecting on some of the many internal and industry-wide changes the company has shepherded since Dr. Jack L. Stephens, creator of the pet insurance industry in the U.S., co-founded the company in 2005. It is also being used as a springboard for the future.
“Pets Best has continued to evolve over the past decade, fueled by our dedication to continually listen and learn from our policyholders,” said Chris L. Middleton, president of Pets Best. “As we reflect on our successes and improvements, it seems like the perfect opportunity to give the Pets Best brand a fresh new look that epitomizes not just where we came from, but what we’ve become.”
The new branding includes a revamped corporate logo and new color scheme.
Pets Best is known for its continuing strategy of sustainable growth, and the company’s foundation is as strong as ever. After 10 years, there are still 36 pets with policies that were purchased in the first year. Of those policies, the average payout over the last decade has been $4,351 – more than twice the economic euthanasia level of $1,700 – the number at which most pet owners will choose to euthanize their pets rather than pay for expensive veterinary care.
Karen Hopkins of Oregon, one of the company’s original policyholders, still lives happily with her dog Tikaya – a mini-American Eskimo. She said Tikaya has taken full advantage of the policy, getting emergency care for eating toxic plants, pancreatitis, two knee surgeries and even bladder stones – a total of $15,000 over the 10 years that Hopkins only paid 20 percent of. Pets Best picked up the remainder of the tab.
Tikaya was a mischievous dog since she was a puppy, Hopkins says, so a policy always made sense.
“It’s what we’ve termed dumb dog insurance. It’s for when she does something stupid,” Hopkins says with some mirth.
The company has made its mark on the community as well. It has grown to employ 65 people, including eight of the original employees from 2005. The culmination of the hard work they have done has shown up in numerous accomplishments in 2015, such as:
- Being named one of the Best Places to Work in Idaho, where Pets Best is headquartered, for the third consecutive year.
- Hitting the $100 million mark in payouts to policyholders.
- Stephens receiving the Lifetime Achievement Award from NAPHIA.
- Celebrating one year in alliance with Farmers Insurance.