JAB Holding Company’s pet insurance platform has acquired a majority stake in Pumpkin Insurance Services, a pet insurance provider.
This acquisition will help JAB expand its leadership in the pet insurance industry, as more consumers sign up for pet insurance.
JAB’s global pet insurance portfolio includes brands such as Figo, Pet Partners, AKC, ASPCA and Pets Plus Us in the U.S. and Canada. The holding company also owns Everypaw, Pet Protect, Agila, Animal Friends and Assur O’Poil in the U.K. and Europe.
NYC-based Pumpkin provides pet owners with accident and illness insurance plans that cover a wide range of health issues and treatments, including sick visits, behavioral problems, dental illnesses, emergency services, alternative therapies and hereditary conditions.
Pumpkin also offers a non-insurance add-on for pet parents to be reimbursed for vaccines, lab tests and wellness exams related to life-threatening disease prevention.
Overall, Pumpkin’s platform enables consumers make data-informed care decisions based upon their pet’s health needs. Since the company’s launch in 2020, it has grown to insure 65,000 pets across the U.S.
Zoetis, which claims to be the world’s largest animal health company, launched Pumpkin in 2020 and will remain a minority stakeholder, according to a statement.
Zoetis and JAB said they are both committed to Pumpkin’s mission to make the most advanced veterinary care accessible for all. According to the statement, Zoetis will continue to provide support in the veterinary channel for Pumpkin’s products and services.
Financial terms of the acquisition were not made publicly available.
