February 19, 2010 (Las Vegas, NV) During the Western Veterinary Conference, The North American Pet Health Insurance Association (NAPHIA) announced that Laura Bennett, Chief Executive Officer and Co-Founder of Embrace Pet Insurance has been appointed Chairman of its Board of Directors.
According to Loran Hickton, Executive Director of NAPHIA, “Laura Bennett has earned an excellent reputation within the pet health insurance industry. Laura Bennett has been a prolific communicator of the positive principals of pet insurance as a means of support for better pet healthcare for all pets. Her efforts speaking in countless venues around the country, as well as her daily blogging have earned broad and positive recognition. These efforts are in addition to building a great team and solid brand at Embrace Pet Insurance. While serving on the NAPHIA Board, it has become clear that she has extraordinary leadership skills and a desire to build consensus among all stakeholders. As an industry, this is the key to unified standards and that will support the robust growth in our industry”.
Laura Bennett has over 17 years of insurance industry experience. She worked for The Canada Life Assurance Company in Toronto, Canada, and Dublin, Ireland, with a number of different leadership roles in asset-liability management, strategic planning, and business development. Laura holds an honors mathematics degree from the University of Western Ontario, is a qualified life and health actuary, and holds the chartered financial analyst designation. Laura was the first pet health insurance actuary in North America. Laura received her MBA, with a concentration in Strategic and Entrepreneurship Management, from the University of Pennsylvania's Wharton School, where she graduated with several university and peer awards. Laura was part of the team that won first prize in the Wharton Business Plan Competition in 2003 with an entry for a pet insurance company.
“It is important that the industry adopt unified standards and provide greater transparency in our products and services. While we are pleased with the consistent double-digit growth of most leading companies, this makes it all the more critical that we all work together. I am thankful to my colleagues serving on the Board, and the many leaders in the industry that support the NAPHIA mission,” added Laura Bennett.
“While this difficult economy presents challenges for consumers and pet owners, it is also driving a robust market for pet insurance; in fact, the market in North America is very strong and has grown over 300% in just the past few years,” continued, Hickton.
Research by the American Veterinary Medical Association shows the pets are truly members of the American family. In the United States for example, about 60% of households have at least one dog, cat, bird, or other companion animal. Many have more than one. There are more than 72 million pet dogs in the U.S. and nearly 82 million pet cats. Pet owners spent $24.5 billion on veterinary medicine in 2009, more than double what they paid 10 years earlier.
The Board of Directors of NAPHIA:
Jack Stephens, DVM, President & Founder, Pets Best Pet Health Insurance
Jack Stephens DVM is the pioneer of pet health insurance and brings 27 years of experience in helping pet owners afford quality care for their pets. Insurance plans offered and administered by Pets Best are underwritten by Aetna Insurance Company of Connecticut (AICC) and recommended by the American Veterinary Medical Association Group Health and Life Insurance Trust (AVMA GHLIT). Visit www.petsbest.com or call: 1-877-738-7237 ext. 1.
Darryl Rawlings, President & CEO, Trupanion Pet Health Insurance and Vetinsurance
Trupanion features a policy with a fixed price that doesn't increase as a pet ages. Ninety-percent of all approved claims are covered and nine out of 10 claims are processed within 24 hours. www.trupanionpetinsurance.com or call: 1-800-569-7913
Dennis Rush, President and Chief Executive Officer of Hartville Group and ASPCA Pet Health Insurance
Founded in 1997, The Hartville Group has been dedicated to helping pet owners pay for their pets' veterinary care with well-designed pet health insurance plans. Visit www.aspcapetinsurance.com or call: 1-866-861-9092.
Randy Valpy, President & CEO, SecuriCan, Petsecure Pet Health Insurance.
Petsecure is Canada's oldest and largest pet health insurance company and since inception has paid out over $77 million in claims. The Secure For LifeTM guarantee provides comprehensive accident, illness coverage, routine care for pets, plus member benefits including dental, alternative care and more. Visit www.petsecure.com or call: 1-800-268-1169.
A. Brent Hinton, Co-Founder and Chief Executive Officer, PetFirst Healthcare
PetFirst Healthcare has been in business since 2004. Importantly, hereditary conditions are covered by adding an endorsement to PetFirst's comprehensive plans. PetFirst Healthcare provides simple, straightforward pet insurance plans that are easy for pet owners to understand and use. Visit PetFirst Healthcare at www.petfirst.com or call: 1-866-937-PETS(7387).
Laura Bennett, Chief Executive Officer and Co-Founder of Embrace Pet Insurance & Chair, NAPHIA Board
Embrace Pet Insurance is a specialist insurance agency. The reason Embrace got into the pet insurance business was to change it. Embrace's full coverage plan protects your pet in the event that she requires treatment for a genetic or breed-specific condition. www.embracepetinsurance.com or call: 1-800-511-9172.
All NAPHIA member companies provide coverage to go to any veterinarian nationwide including specialists and emergency care clinics.
Founded in 2007, the North American Pet Health Insurance Association is committed to educating and promoting to North American pet owners, the general public, and the veterinary industry, the values and benefits of pet health insurance. For more information, visit www.naphia.org or call: 412-319-7730 / 412-908-9766.