Pet Health Insurance Association Grows in Robust Market Adding Additional Pedigree to Board of Directors
May 7, 2009 (Pittsburgh, PA) The North American Pet Health Insurance Association(NAPHIA) announced today the addition of Laura Bennett, President and Chief Embracer of Embrace Pet Insurance to its Board of Directors.
According to Loran Hickton, Executive Director of NAPHIA, “Laura Bennett is a champion of pets and their owners. Along with her team, she has built a successful pet health insurance company, while supporting the most positive principals of third party support for better pet care for all pets. Laura is creative and a keenly focused business person who will add significant value to the efforts of our Board.”
Ms. Bennett has over 16 years of insurance industry experience, including her work for The Canada Life Assurance Company in Toronto, Canada, and Dublin, Ireland, where she held a number of different leadership roles in asset-liability management, strategic planning, and business development. Laura holds an honors mathematics degree from the University of Western Ontario, is a qualified life and health actuary, and holds a chartered financial analyst designation. Laura is the only pet health insurance actuary in North America. Laura received her MBA, with a concentration in Strategic and Entrepreneurial Management from the University of Pennsylvania's Wharton School, where she graduated with several university and peer awards. She was also part of the team that won first prize in the Wharton Business Plan Competition in 2003, with an entry for a pet insurance company.
“I am honored to be a member of this distinguished board and I look forward to working with all pet health insurance providers to educate pet parents on the value of pet insurance, and to promote the highest levels of transparency in pet health insurance,” added Laura Bennett.
“While this difficult economy presents challenges for consumers and pet owners, it is also driving a robust market for pet insurance; in fact, the market in North America is very strong and has grown over 300% in just the past few years,” continued Hickton.
Research by the American Veterinary Medical Association shows that today pets are truly members of the American family. In the United States, for example, about 60% of households have at least one dog, cat, bird, or other companion animal; many have more than one. There are more than 72 million pet dogs in the U.S. and nearly 82 million pet cats. The owners of these pets spent $24.5 billion on veterinary medicine in 2006, more than double their spending of ten years earlier.
The Board of Directors of NAPHIA:
Jack Stephens, DVM, President & Founder, Pets Best Pet Health Insurance
Darryl Rawlings, CEO & Founder, American Pet Insurance Company, Trupanion™ and Vetinsurance™ brands
Dennis Rushovich, President and Chief Executive Officer of Hartville Group, which includes Hartville Pet Health Insurance, ASPCA Pet Health Insurance™, and Petshealth Care Plan™ brands
Randy Valpy, President & COO, SecuriCan, Petsecure Pet Health Insurance
Founded in 2007, the North American Pet Health Insurance Association is committed to educating and promoting the values and benefits of pet health insurance to North American pet owners, the general public, and the veterinary industry. For more information, visit www.naphia.orgor call 412-319-7730 / 412-908-9766.
North American Pet Health Insurance Association