Pawlicy Advisor raised $1M to make it easy to do the right thing as a pet parent.
Nearly two years ago, Pawlicy Advisor launched with an important mission: to make it easy and affordable to do the right thing for pets.
Step one? Helping pet parents find the right insurance at the right price - no matter the provider.
As lifespans of companion animals increase, costs of veterinary care are likely to increase for pet parents. More importantly, most U.S. families have a pet (67%, according to the 2019-20 APPA's National Pet Owners Survey) and in 2018 the number of U.S. pets insured increased by a whopping 18% - yet even with that increase only around 2% of pets in the U.S. are covered by a health policy.
Currently, the number of insurance policy options is extremely overwhelming. Both pet parents and veterinarians alike find themselves frustrated with the buying experience and lack of transparency.
Pawlicy Advisor is leading the charge to fix these problems, and we’re thrilled to announce a $1M round, led by Defy Partners. These funds immediately help Pawlicy Advisor boost customer support and outreach, expand distribution, and build key partnerships.
A New Model For Pet Insurance
In the last 3 months alone, thousands of veterinarians across the U.S. have started using Pawlicy Advisor to simplify the pet insurance conversation.
People have trouble understanding the intricacies and differences between the thousands of policy variations to choose from, and veterinarians are uncomfortable recommending specific insurance brands.
Pawlicy Advisor offers a new model - one that is data-driven and has veterinarians really excited.
Taking the marketplace approach and adding a new layer of intelligence, people can use Pawlicy Advisor to instantly analyze hundreds of policy variations across multiple companies. The end result is a data-driven recommendation based on breed-specific attributes, hidden discounts, and total cost predictions for the lifetime of the pet.
This new model benefits veterinarians, pet parents, and insurance providers alike:
- Veterinarians are able to focus on treatment, rather than treatment financing
- Pet parents are able to find the right protection, save money, and get more out of their insurance policies.
- Pet insurance providers get wider distribution, higher policy retention rates, and valuable product feedback.
Pawlicy Advisor Accelerates Growth Across The U.S.
There is an enormous opportunity for Pawlicy Advisor to amplify its current success and help more than 235,000,000+ animal companions in the U.S. Defy’s investment will enable Pawlicy Advisor to build a deeper integration with veterinary software (providing faster, more robust insurance information). It will also enable us to optimize the platform for an even more delightful user-flow, explore additional health-based product offerings to supplement recommendations, and expand distribution channels.
Update: To supercharge this growth, we’ve hired two more rockstars - a doctoral candidate from Cornell University's College of Veterinary Medicine with a track record in customer-focused engagement, and a director of marketing with extensive experience in demand generation and growth marketing.
Pawlicy Advisor is officially full-speed ahead, and our bandwidth to connect with veterinarians across the country is scaling to match the feverish demand.
Our Pets Are Family
Our pets have unique personalities, desires, and interests. They think and make decisions. They explore and follow curiosity. They express emotions and appreciation. They give love and companionship.
Too many people struggle to give their pets the care they need. Too many pets are suffering, abandoned, or euthanized.
Our vision is for pets to be treated, cared for, and loved as equals. We want to eliminate the need for pet parents to choose between their pets’ lives or unaffordable treatment.
Pawlicy Advisor exists to make it easy and affordable to do the right thing for pets.
You can find the official funding announcement on Fortune, Axios, AlleyWatch, Venture Capital Journal, and PitchBook.
