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How one CEO turned his passion for pets into an insurance business

November 9, 2023


Four years ago, when Trey Ferro (pictured) founded a pet insurance business, he boldly went directly to the consumer, competing with well-established insurers such as Nationwide and State Farm.

Ferro started Spot Pet Insurance when the penetration rate for the product was close to 3%, compared to the UK, which had a 30% penetration rate.

“It was just an education factor,” Ferro said. “No-one in the US knew what pet insurance was.”

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