Progressive enters the rapidly growing voluntary benefit market by expanding pet health insurance plan offering

Teams with Pets Best to debut new benefit product for employers

News provided by

Aug 12, 2020, 09:26 ET

MAYFIELD VILLAGE, Ohio and BOISE, Idaho, Aug. 12, 2020 /PRNewswire/ -- Progressive is entering the voluntary benefits market through a relationship with Pets Best, Progressive Pet Insurance by Pets Best, available to all U.S. companies looking to add pet insurance as a voluntary employee benefit. The Progressive branded product will be written and serviced by Pets Best, which is part of CareCredit, a Synchrony solution.

Progressive's voluntary benefit offering is its latest collaboration with Pets Best pet health insurance. Progressive and Pets Best have worked together since 2009, offering Pets Best pet health insurance plans to dog and cat owners across the U.S.

According to the American Pet Product Association (APPA), approximately 85 million households in the U.S. spent a combined $29.3 billion on veterinary care.

"Pet ownership in this country is at an all-time high, and costs for veterinary care continue to rise as we see more sophisticated medical technologies and improved treatment options. To help address this challenge, many pet owners are turning to pet insurance for protection," said Chris Middleton, Senior Vice President and General Manager of Pets Best. "This expanded product offering with Progressive allows us to reach even more business owners, HR managers, brokers and decision makers who turn to Progressive for their commercial insurance needs."

"We understand that employers are looking for ways to create more comprehensive and competitive benefits packages," said Drew Purcell, Business Development Leader at Progressive. "Employees are placing increased importance on work perks that complement their lifestyles and recognize what's important to them. By offering pet insurance as a voluntary benefit, employers can tap into the strong bond that many people have with their pets."

Progressive Pet Insurance by Pets Best provides employers and their employees flexibility. The pet health benefit is easy to implement and has the technical capability of integrating on any benefit enrollment platform. Enrollees can select the amount of coverage that best fits their needs and have access to a free 24/7 Pet Helpline to address any pet wellness questions or concerns.

There's no cost to employers to add Progressive Pet Insurance by Pets Best as a voluntary benefit. The pet insurance benefit is available to companies of any size and can be added at any time throughout the year. Employers have the option to pay for part or all of the pet insurance, or companies can choose to have their employees pay the premiums directly. Payroll deduction is also available to companies with at least 250 employees.

Companies interested in offering pet health insurance as a voluntary benefit can learn more by visiting http://progressivecommercial.com/petbenefits/ or by calling 1-833-449-7450.

About Progressive
The Progressive Group of Insurance Companies makes it easy to understand, buy and use auto insurance. Progressive offers choices so consumers can reach us whenever, wherever and however it's most convenient - online at progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.

Progressive provides insurance for personal autos and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. Home insurance is underwritten by select carriers, including our majority owned subsidiaries, American Strategic Insurance Corp. and its affiliates (ASI).

Progressive is the third largest auto insurer in the country; a leading seller of motorcycle and commercial auto insurance; and through ASI, one of the top 15 homeowners insurance carriers.

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot® and HomeQuote Explorer®.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly atNYSE:PGR.

About Pets Best

Pets Best was founded in 2005 by veterinarian Dr. Jack Stephens with a mission to provide access to comprehensive animal healthcare at an affordable price. Dr. Stephens' passion for saving pets is what brought him to start pet insurance in the U.S. in 1980. Pets Best offers pet insurance and wellness plans for dogs and cats in every state and has paid more than $250 million in claims to their customers.

In 2019 the company was acquired by Synchrony (NYSE: SYF). Pets Best is part of CareCredit, a Synchrony Solution and offers flexible coverage, fast claims, and excellent customer service. Pets Best is highly rated by independent review sites and is recommended by veterinarians across the nation. Pets Best offers pet insurance for multiple fortune 500 companies through leading partner connectivity and technology.

Pets Best is a founding member of NAPHIA, an organization that has established high standards and transparency for the pet insurance industry. Visit www.PetsBest.com for more information.

Pet Insurance underwritten by American Pet Insurance Company, a New York insurance company. Please visit www.AmericanPetInsurance.com to review all available pet health insurance products.

SOURCE Progressive Insurance