OAKVILLE, ONTARIO -- (Marketwired) -- 09/10/13 -- Pethealth Inc. ("Pethealth" or "the Company") (TSX: PTZ), North America's leading provider of animal management software, microchip identification and data related services for companion animals, and pet health insurance is pleased to announce it has surpassed another milestone in its North American insurance business.
In partnership with over 2,000 North American based animal welfare organizations, the Company has now administered over 5 million 24PetWatch Gift of Insurance policies, making the 24PetWatch Pet Insurance Program the largest and most widely used pet insurance program offered in the animal welfare community. Its 5-millionth Gift was issued by the Connecticut Humane Society.
"We were pleased to learn one of our adopters received the 5-millionth shelter provided complimentary Gift of Pet Insurance administered by our friends at 24PetWatch Pet Insurance," said Gordon Willard from the Connecticut Humane Society. "Pet insurance is a great product to help owners when their pet experiences a serious health condition or accident. We see unprepared owners in our clinic every day who struggle to provide care for their sick pets, and would have benefited from pet health insurance. We encourage all pet owners to consider 24PetWatch's products to help care for their pet."
Designed in consultation with leading animal welfare organizations (AWOs), the 24PetWatch (previously ShelterCare) Gift of Insurance program, launched in 2002, is the first of its kind and the longest running. The Gift program provides dogs and cats adopted through partner shelters across North America up to 45 days of coverage for the most common accidents and illnesses that occur post adoption, enabling AWOs to better manage their limited financial resources rather than using them to cover unexpected post-adoption veterinary fees or having to provide 30-day health guarantees. Since issuing the first Gift of Insurance in January 2002, the 24PetWatch Gift of Insurance program has to date paid in excess of $16.1-million in claims on behalf of its underwriters.
"The 24PetWatch Gift of Insurance program is a valuable service we provide to our partner organizations," said Connie Howard, Director of Animal Welfare Relations at Pethealth Inc. "By covering the most common illnesses and accidents seen post-adoption, the 24PetWatch Gift of Insurance helps reduce the number of animals returned to shelters for health-related reasons. The program gives adopters the chance to better prepare for the arrival of their newest family members, offering them peace of mind."
The value the 24PetWatch Gift of Insurance provides to the animal welfare community is further evidenced by the growth and widespread use amongst partner organizations, with nearly 1,400 animal welfare organizations now having issued at least one Gift of Insurance in the last 12 months. In addition to the Gift of Insurance, the program provides animal welfare organizations a convenient and efficient means by which to offer this unique program to their adopters; developed as an integral part of the Company's industry leading PetPoint Data Management System, which recently facilitated its 5-millionth pet adoption through AWOs utilizing the cloud-based application, the Gift program is fully automated, thus allowing partner organizations to focus their operational resources elsewhere.
PetPoint, first introduced in 2005, is now licensed by over 2,000 animal welfare organizations in North America and has facilitated the adoption of over 5-million pets. As a cloud based application, animal welfare organizations can not only better organize and care for their homeless and abandoned animals, but can also reduce significantly, if not eliminate, their IT-related infrastructure costs. PetPoint is provided free to animal welfare organizations on the basis that these same organizations use the Company's 24PetWatch microchip and Gift of Insurance programs for all companion animals adopted. Adoptable animals are then published on the Petango adoptable search platform. The 24PetWatch microchip program is the most widely used microchip and lost pet recovery service operating in both Canada and the United States.
About Pethealth Inc.
Pethealth is North America's second largest provider of medical insurance for dogs and cats to pet owners, operating in the United States, Canada and the United Kingdom. In addition, the Company is the leading provider of management software to North American animal welfare organizations through its SaaS-based application and is the leading provider of pet related database management services to the North American companion animal industry. Pethealth offers a unique range of products and services for veterinarians, shelters and pet owners through a number of wholly owned subsidiaries using a range of brand names including PetCare, 24PetWatch, Pet Protect, Petpals Direct, PetPoint, Petango.com and ThePetangoStore.com.
Pethealth is based in Oakville, Ontario. To find out more about Pethealth, visit the website at www.pethealthinc.com.
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