March 26, 2007
Last September, a Wharton friend of mine put me in touch with Betsy Flanagan, a talented entrepreneur with an interesting business idea involving podcasts and entrepreneurs. Betsy interviews a variety of entrepreneurs and she posts a weekly podcast from the interview on her website Startup Studio.
You should see some of the people on her site - George Foreman (yes, THE lean, mean grilling machine), Tazo Tea founder Steve Smith, and Herb Kelleher, founder of Southwest (ding - you are free to move about the country) - to name a few.
So check out this week's podcast - it's me chit chatting about Embrace Pet Insurance, what it's taken to get to where we are now, and the emotional side of entrepreneurship. And you get to hear my English accent. Yes, it also sounds strange to me too.
In the US, more money is spent each year on cats and dogs than on babies. My guest is Laura Bennett, the co-founder of Embrace Pet Insurance, a company that is partnering with Lloyds of London to offer health insurance for pets. The market is enormous. In the US alone, there are 73 million dogs and 90 million cats and projected annual growth of insurance premiums is 45%. Embrace Pet Insurance was launched in 2003 after Laura and her partner won the annual Wharton Business Plan Competition, beating out dozens of Internet and technology ventures. Despite this strong start, it took over three years before the company could sell their first policy. Tune in to hear how Laura persevered and made her dream a reality.
[I'll put a permanent link to the article when there is one]