Pets Best Celebrates 10 Years of Protecting Dogs and Cats
Posted on January 27, 2015 under Industry News
2015 marks pet insurance agency’s 10th anniversary
BOISE, Idaho – Pets Best Insurance Services, LLC, a leading U.S. pet insurance agency, announced today that 2015 marks the agency’s 10th anniversary. Pets Best was co-founded in Boise, Idaho, in 2005 by Dr. Jack Stephens, a veterinarian and pet insurance industry veteran, and Greg McDonald, a seasoned property and casualty insurance executive. Dr. Stephens had previously launched the pet insurance industry in North America in 1981.
The first pet insured on a Pets Best plan was Dr. Stephens’ 1.5-pound teacup Chihuahua, Torrey. In the 10 years since, Pets Best has sold more than 157,000 pet insurance policies. Pets Best offers pet insurance plans for dogs and cats in all 50 states and Washington, D.C.
“During the past 10 years, Pets Best has firmly established itself as a true innovator in the U.S. pet insurance industry,” Dr. Stephens said. “Before I founded the nation’s first successful pet insurance company in 1981, approximately 50 companies had already attempted to enter the market. In recent decades, many pet insurance agencies have come and gone, but Pets Best continues to serve as a trusted leader in the industry.”
The team at Pets Best is comprised of pet owners and pet lovers, many of whom have veterinary backgrounds and are involved with animal rescue efforts. The company’s mission is to end economic euthanasia by helping to ensure pet owners are financially prepared when their pets need unexpected veterinary care. Economic euthanasia often occurs when pet owners are unable to afford costly veterinary care for their pets.
The following timeline documents the major milestones that led to Pets Best celebrating 10 successful years in business:
1981 – Dr. Stephens launches first successful pet insurance company in North America.
1982 – Dr. Stephens presents the nation’s first pet insurance policy to television icon Lassie at a press conference in Los Angeles with Mayor Tom Bradley.
2005 – Dr. Stephens co-founds Pets Best with McDonald. The first pet insured is Dr. Stephens’ teacup Chihuahua, Torrey.
2005 – Pets Best offers the first flat rate reimbursement on the veterinary bill, as opposed to reimbursing on a benefit schedule or using Usual, Customary and Reasonable (UCR) language which were the traditional methods used by pet insurance agencies.
2006 – Pets Best puts its entire pet insurance policy on its website for full transparency to customers and potential customers.
2008 – Pets Best Japan launches, utilizing the technology, business processes and brand established by Pets Best.
2008 – Dr. Stephens co-founds the North American Pet Health Insurance Association, which is dedicated to educating and promoting the values and benefits of pet health insurance.
2010 – Pets Best launches direct deposit for claims, making Pets Best the first pet insurance agency to offer a complete electronic claim filing and payment processing system.
2012 – Pets Best becomes the first pet insurance agency to develop and provide specialized pet insurance plans offered in addition to comprehensive accident and illness coverage plans. The three specialized plans – Accident Only, Cancer Only and Feline Illness – provide pet owners with budget-friendly options for specific coverage.
2012 – As a result of increasing sales, Pets Best moves to a larger office to accommodate its growing number of employees.
2013 – Pets Best launches pre-authorization for claim payments.
2013 – Pets Best expands its BestBenefit accident and illness plans to include full coverage for hereditary and congenital conditions.
2013 and 2014 – Pets Best is named one of the Best Places to Work in Idaho by the Idaho Business Review and POPULUS for two consecutive years.
2014 – Dr. Stephens releases his memoir “A Different Kind of Veterinarian,” documenting the challenges of starting the pet insurance industry, his struggles to keep the industry alive and the fight for his own life when he was given six months to live following a cancer diagnosis.
2014 – Dr. Stephens teams up with Lassie once again to present pet insurance policies to a newly adopted dog and cat at the Best Friends Animal Shelter in Los Angeles.
Pets Best will celebrate its 10th anniversary all year long, with a special focus in September 2015 to highlight the pet insurance agency’s official launch month.
About Pets Best Insurance Services, LLC
Dr. Jack L. Stephens, founder and director of Pets Best, founded pet insurance in the U.S. in 1981 with a mission to end euthanasia when pet owners couldn’t afford veterinary treatment. Dr. Stephens went on to present the first U.S. pet insurance policy to famous television dog Lassie. Pets Best provides coverage for dogs and cats. Dr. Stephens leads the Pets Best team with his passion for quality pet care and his expert veterinary knowledge. He is always available to answer questions regarding veterinary medicine, pet health and pet insurance. The Pets Best team is a group of pet lovers who strive to deliver quality customer service and value. Visit www.petsbest.com for more information.
Pet insurance coverage offered and administered by Pets Best Insurance Services, LLC is underwritten by Independence American Insurance Company, a Delaware insurance company. Independence American Insurance Company is a member of The IHC Group, an organization of insurance carriers and marketing and administrative affiliates that has been providing life, health, disability, medical stop-loss and specialty insurance solutions to groups and individuals for over 30 years. For information on The IHC Group, visit: www.ihcgroup.com. Additional insurance services administered by Pets Best Insurance Services, LLC are underwritten by Prime Insurance Company. Each insurer has sole financial responsibility for its own products.
Pets Best is a proud member of the North American Pet Health Insurance Association (NAPHIA).