In the dog-eat-dog world of attracting top employee talent, pet insurance can help to differentiate a company’s benefits package. When it comes to talking to a CEO about pet insurance, make sure the cat hasn’t got your tongue. Pet insurance is purr-fect for employees.
Human resources and employee relations directors across the United States have probably heard them all by now. But pet insurance continues to be one of the fastest growing employee benefits in the country. Brokers and agents would be wise to avoid the puns and think seriously about talking pet insurance with employers of all stripes.
Ashton and his wife, Natasha, started Petplan after they moved to the United States to attend the Wharton School of Business at the University of Pennsylvania. At the time, their cat got sick, which resulted in a hefty vet bill the couple had to pay out of pocket.
After the experience, the two began looking to cover their pets and found that pet insurance is far more common in the British Isles than in the colonies. It didn’t take them long to see the business opportunity. Petplan is now an industry leader.
For employers, the most significant selling point of pet insurance is its cost. It’s a voluntary benefit, so it’s basically free to the employer. In fact, the only real cost associated with offering pet insurance is the negligible cost of allowing employees to pay for the plan through a payroll deduction.
Pet insurance helps employees in a number of ways, too. Plans feature a network of veterinarians, so employees can take their barking or purring family member to a veterinarian if something bad happens on a vacation or work trip.