Pets Best Insurance Launches in Japan
Posted on January 31, 2008 under Industry News
Pets Best Insurance Client Advocate, Torrey Stephens, takes a last minute look at the pet insurance agreement. As Masahiro Aruga, Business Development, Donald Dietrich, Administrator, Iwao Nonaga, Dr. Jack Stephens, Dale Peterson, Executive Director, and Greg McDonald, sign.
January 31, 2008, (Boise, ID) Today Pets Best Insurance hosted a delegation of business leaders and dignitaries from Japan and the state of Idaho to announce the launch of their brand of pet insurance inJapan. Pets Best founders, Jack Stephens DVM, and Greg McDonald, along with Pets Best Japan founderMr. Iwao Nonaga were on hand to meet with local Boise media about this historic expansion of pet health insurance from the United States to Japan.
Although several European pet insurance companies have expanded outside their countries’ borders, this marks a first for a leading pet insurance provider in the United States to expand its technology, business processes and brand outside the United States and the first pet insurance company in Japan.
With a declining human birth rate in Japan, pets are becoming an integral part of the family. There are over25 million dogs and cats in Japan. Pets, according to a survey of Japanese pet owners, are considered friends and provide spiritual support. Just as in the United States and Europe, the rise in stature of pets increases the utilization of veterinary care, resulting in greater need for pet insurance. Pets once considered only objects, were changed by legislation in 2004 as objects with life, an important distinction in Japanese culture. Pets fulfill a needed role in Japanese society, just as in the United States by reducing stress, providing companionship, improving “good feeling” hormones and bringing joy to families.
The founder of Pets Best Japan spent several years doing an analysis of pet insurance in North America andEurope, focusing on products and systems. After an exhaustive search, the principals decided that PetsBest had the best product and proprietary software system for pet insurance. Mr. Iwao Nonaga, the founder of Pets Best Japan said, “After dealing with many companies in North America and Europe, we found thatDr. Jack Stephens, the founder of pet insurance in the United States, was by far the person with the most knowledge and insight to provide us with a model for success. Our goal was to have a highly automated, streamlined system from which to operate and the best product to market to a highly discerning market inJapan.”
The multi year agreement provides for all current and future automated underwriting and claims systems to be utilized in Japan. In addition certain proprietary and patent pending processes and procedures of PetsBest will be utilized by Pets Best Japan in exchange for an upfront fee and ongoing royalties based on sales. In addition, Dr. Stephens will serve on the Pets Best Japan board of directors and be a senior advisor to the company. “The diligence and planning of Mr. Nonaga and his team was superlative and in great depth.” Said Dr. Stephens. “In all my years I never experienced such due diligence and all of us at PetsBest are extremely proud that we were chosen over all other pet insurers in the world for this agreement.”
Pets Best Insurance reimburses pet owners for services from the veterinarian they choose, with no schedules or fee restrictions, truly establishing it as “Pet insurance that really pays!” Pets Best Insurance was founded by Dr. Jack Stephens, the pioneer of pet insurance with over 25 years in the pet insurance industry. Dr. Stephens is also an accomplished veterinarian and avid pet enthusiast. Pets Best includes a choice of four affordable coverage plans with a straightforward 80:20 claims reimbursement structure andNO benefit schedules. The Pets Best Insurance team is a highly skilled and professional group of pet lovers who have developed products based on innovation and insight into veterinary care. Visit Pets BestInsurance at www.petsbest.com or phone Pets Best Insurance at 877-PetsBest (738-7237). Pets Best,Simply the Best Pet Insurance.