Insurtech ManyPets, a pet insurance provider, will leave the US market to focus on operations in the UK insurance market. The company has partnered with Odie Pet Insurance to manage the transition for US customers (see How InsurTech Can Optimize Pet Insurance Industry?).
Beginning January 1, 2025, Odie Pet Insurance will offer continued coverage, with renewal offers starting November 1, 2024, pending underwriting approval.
ManyPets launched in the US in 2021 through a collaboration with Accredited Surety and Casualty Company. Despite initial enthusiasm, operational hurdles prompted the company to shift focus back to the UK (see about The UK Insurtech Sector).
Robb Granado, ManyPets’ US CEO, emphasized the company’s dedication to offering top-notch coverage for pet owners in the US. He expressed excitement about collaborating with Odie to ensure customers receive continued, high-quality support.
ManyPets has developed what we consider to be the best coverage option for pet parents across the US. We’re delighted to announce this next stage of our journey as we join forces with Odie in the US to make sure that pets and pet parents in the US continue to receive great coverage.
Robb Granado, ManyPets’ US CEO
Miles Thorson, CEO and Co-Founder of Odie Pet Insurance, shared his enthusiasm, expressing confidence that ManyPets’ customers would appreciate Odie’s values and commitment to excellent service.
ManyPets, originally founded as Bought By Many in 2012, is a UK-based insurtech company specializing in pet insurance. The company rebranded to ManyPets in 2021 to reflect its focus on pet health and insurance services.
It offers comprehensive insurance policies for pets, including coverage for pre-existing conditions and access to unlimited video consultations with registered veterinarians. This digital-first approach streamlines the claims process, enhancing customer experience.
In June 2021, ManyPets secured a $350 mn Series D funding round, valuing the company at over $2 bn. This investment, led by EQT Growth, was among the largest insurtech investments in Europe at the time. The funds were intended to support global expansion and product development.
Expanding its international presence, ManyPets entered the Swedish market in 2019 and launched in the United States in March 2021. In October 2022, the company acquired Digital Edge Insurance Company from Munich Re Digital Partners.
This acquisition enabled ManyPets to underwrite its own policies in 45 states, providing greater flexibility in the U.S. market.
Despite initial growth in the U.S., ManyPets announced in November 2024 its decision to exit the U.S. market to concentrate on its core operations in the UK. The company partnered with Odie Pet Insurance to ensure a smooth transition for its U.S. customers, with Odie offering continuous coverage starting January 1, 2025.
In the UK, ManyPets continues to innovate in the pet insurance sector. In December 2021, the company acquired VetBox, a pet wellness subscription service providing essential preventative treatments.
This acquisition marked ManyPets’ expansion into the pet wellness space, aiming to offer a holistic approach to pet health.
ManyPets’ commitment to customer-centric services and digital innovation has positioned it as a leading player in the pet insurance industry. The company’s focus on comprehensive coverage, user-friendly digital platforms, and strategic partnerships underscores its dedication to enhancing pet health and owner satisfaction.
