Progressive is entering the voluntary benefits market through a relationship with Pets Best.
Progressive Pet Insurance by Pets Best will be 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 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, 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.”
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. 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.
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.