Insurance DECODED
Previous edition: 09 May 2024
Share article
Get the full version straight to your inbox.
Exclusive access to our best-in-class data & intelligence
Subscribe now
Unum partners with Nationwide to offer pet insurance cover
US-based provider of workplace benefits Unum, in collaboration with insurance company Nationwide, has introduced a new pet insurance product.
Called Unum Pet Insurance, the new offering comes alongside the customer’s Unum voluntary benefits.
It includes reimbursement options of 50% and 70%, along with access to Nationwide's VetHelpline, a virtual veterinary support service.
The new Unum Pet Insurance provides customers with various other features including discounts on eligible pet prescriptions at participating pharmacies and coverage for emergency boarding costs if the pet owner is hospitalised due to illness or injury.
Additionally, there is optional wellness coverage for routine pet care expenses such as physicals, vaccines and flea and tick treatments.
Unum Pet Insurance also offers benefits such as lost pet support, which covers advertising costs and rewards for finding a lost pet, and additional coverage if the pet remains missing after two months.
The insurance solution extends to mortality or life insurance features, covering up to $1,000 for euthanasia, cremation, burial and the original cost of the pet.
Unum Group executive vice-president of voluntary benefits and president of Colonial Life, an Unum Group company, Tim Arnold said: “We are thrilled to be rounding out our voluntary benefits portfolio with the addition of Unum Pet Insurance. As workforce needs and employee expectations evolve, we must too. Employees want more than protection for themselves – they want to ensure their families are cared for as well.
“For employers, it is important to remember that everyone defines family differently, and for many, pets are just as important as any other member of the household.”
Nationwide vice-president of sales for pet insurance Melissa Lovely said: “Employers are looking for every lever to keep their best employees and attract top talent, and research shows that offering pet-related benefits provides that competitive advantage.
“This partnership between Nationwide and Unum positions our industry-leading companies to support a greater number of pet-owning employees and provide more care for more pets.”
In other US pet insurance sector news, last month, Chubb agreed to acquire Healthy Paws, a pet insurance-focused managing general agent.
Healthy Paws, founded in 2009, insures more than 500,000 dogs and cats across the US. Chubb stated that this acquisition will help it tap a market with considerable growth potential.
Latest news
Marsh launches crypto-asset insurance solution for EU clients
Marsh, the insurance broking and risk advisory business of Marsh McLennan, has launched MiCAssure, an insurance solution tailored for crypto-asset service providers in the EU.
Evolin Broking launches terrorism insurance facility
Evolin Broking, a London market wholesale insurance broker, has launched a new terrorism facility called Assailant Protect.
Munich Re net result surges more than 68% to €2.14bn in Q1 2024
Munich Re has reported a net result of €2.14bn in the first quarter of 2024, a 68.4% surge in comparison with €1.27bn recorded during the same period of last year.
DWF adds legacy insurance expert to team
Legacy provider of integrated legal and business services DWF has hired Jim Bryant as a partner in its insurance services division.
Acrisure expands in UK with two acquisitions
Acrisure, a US-based insurance company, has broadened its footprint in the UK through the acquisition of FinCred and Global Broking Solutions (GBS).
Legal & General Wellbeing Advisory Board launches burnout approach
Legal & General Group Protection's Wellbeing Advisory Board has launched an approach to tackle burnout, centred on a well being partnership between employers and employees.
Overjet upgrades its insurance intelligence platform
Dental AI firm Overjet has launched the next evolution of its Insurance Intelligence Platform.
Digital Transformation in Insurance Conference 2024
Applied Digital Corporation, a designer, builder and operator of next-generation digital infrastructure designed for High-Performance Computing applications, announced that, in light of a scheduling issue, has moved its fiscal third quarter 2024 earnings conference call to Thursday, April 11, 2024, at 5:00 p.m. Eastern time.
In our previous edition
Insurance Decoded
AI-powered insurance solutions provider Simplifai garners funding
08 May 2024
Insurance Decoded
Zurich Malaysia signs bancassurance partnership with GXBank
07 May 2024
Insurance Decoded
MedRisk seals $240m deal to buy Conduent's claims solutions unit
06 May 2024
Newsletters in other sectors
Aerospace, Defence & Security
Banking & Payments
Medical Devices
Travel and Tourism
Search companies, themes, reports, as well as actionable data & insights spanning 22 global industries
Access more premium companies when you subscribe to Explorer