Petplan USA

Infobox Company
name = Petplan Pet Insurance USA

type = Private
genre =
foundation = September 11, 2003
founder = Chris and Natasha Ashton
location_city = Philadelphia, Pennsylvania
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industry = Pet Insurance
products =
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homepage = www.gopetplan.com
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Petplan USA is a Philadelphia-based pet insurance company,http://www.bizjournals.com/philadelphia/stories/2008/04/07/daily38.html] providing insurance for pet owners to cover veterinary bills. Since 2003, it has operated in partnership with Petplan UK,http://www.cribcleaners.com/wbpc/pastwinners/02-03.php] a unit of what Bloomberg describes as "Europe's largest insurer", Allianz SE.http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ausmg1JnBOIM] Petplan USA holds the exclusive US license to use the Petplan UK name in marketing. It has also since 2007 operated in partnership with the Humane Society of the United States (HSUS) to promote pet insurance as "a key component in responsible pet ownership".http://www.hsus.org/shop/petplan_pet_health_insurance.html] In the United States, American National Property and Casualty (ANPAC) underwrites Petplan.http://www.gopetplan.com/About_PetPlan_Pet_Insurance/AllAbout_Petplan_Pet_Insurance.html]

Background

The company was founded in 2003 by Chris Ashton and his wife Natasha Ashton, who had seen the need when as students of the Wharton School of the University of Pennsylvania they could not get coverage for their own sick pet. Along with Alex Krooglik and Laura Bennett, they submitted a plan for a pet insurance company, then called PAWS, to the annual Wharton Business Plan Competition, winning the contest's $20,000 grand prize. [http://www.wep.wharton.upenn.edu/newsletter/spring03/paws.html The truth about cats and dogs: they're costly] Newsletter. (Spring 2003) Wharton Entrepreneurial Program. wharton.upenn.edu. Retrieved 2008-08-12.] [ [http://findarticles.com/p/articles/mi_m0EIN/is_2003_April_30/ai_100907517 Changing times: Wharton Business Plan Competition Venture Fair Winner eschews high tech] Newsletter. (Spring 2003) Wharton Entrepreneurial Program. wharton.upenn.edu. Retrieved 2008-08-12.] For several years, the company struggled with debt, as the Ashtons were unable to secure bank loans.Witt, Louise. (2005-07-07) [http://www.nytimes.com/2005/07/07/business/07sbiz.html?pagewanted=print When entrepreneurs risk it all and lose] "The New York Times". Retrieved 2008-08-12.] In 2006, Chris Ashton approached the Wharton Entrepreneurial Program for advice on a national marketing plan and was directed to visiting lecturer Alan Abrahams, who assigned Petplan USA as a data-mining test case to his students. [http://www.wep.wharton.upenn.edu/newsletter/spring07/doggingthedata.html Dogging the data] Newsletter. (Spring 2007) Wharton Entrepreneurial Program. wharton.upenn.edu. Retrieved 2008-08-12.] The students' work helped determine marketing strategies for the company, providing information on potential areas of interest.Walker, Peter. (2007-05-15) [http://edition.cnn.com/2007/BUSINESS/05/15/execed.pets/index.html Doggedly pursuing a business answer] CNN. Retrieved 2008-08-12.]

In April of 2008, the company, which had nine employees in Spring of 2007 and 11 in February of 2008, [Bick, Julie. (2008-02-10) [http://www.nytimes.com/2008/02/10/jobs/10starts.html?sq=dogs&st=nyt&scp=32&pagewanted=all For your pet, a policy all its own] "The New York Times". Retrieved 2008-08-12.] appointed Vernon Hill II, the founder and former president and CEO of Commerce Bancorp Inc., as chairman of the board. [http://www.bizjournals.com/philadelphia/stories/2008/04/07/daily38.html]

References

External links

* [http://www.gopetplan.com Petplan USA]