In a standout move catering specifically to renters with pets, AM Specialty Insurance Company (ASIC) and Swain & Baldwin Insurance & Risk Management have introduced the PawPro Pet Insurance Program. Initially available exclusively in Texas, this new insurance product promises a comprehensive array of pet-related coverages designed to address the unique needs of renters. The program also includes ambitious plans for nationwide expansion, underlining the anticipated demand and value.
The PawPro Pet Insurance offering is tailored to provide extensive protection for pet owners, addressing critical concerns that come with pet ownership. The coverage includes emergency pet boarding services, lost pet advertising and rewards, veterinary fees, coverage for death due to injury or illness, and even vacation cancellation. This comprehensive approach ensures that pet owners feel secure knowing they have financial support in a variety of pet-related emergencies. By offering such detailed and specific coverage options, the PawPro Pet Insurance significantly fills a gap in the current insurance market, where policies typically either underserved or overlooked pet-owning renters.
AM Specialty Insurance will maintain complete ownership of the program, showcasing their commitment to the long-term success and growth of this initiative. The company aims to reach $7.5 million in written premium within its first year. Over a span of three years, expectations are set to scale up to an impressive $20 million. This ambitious target reflects the confidence both ASIC and Swain & Baldwin have in the program’s potential. Critical to this anticipated success is Swain & Baldwin’s vast network of retail agents and their well-established relationships within the renters’ market. These factors play a crucial role in driving the program’s reach and acceptance among the target audience.
A Seamless Solution for Renters with Pets
AM Specialty Insurance Company (ASIC) and Swain & Baldwin Insurance & Risk Management have launched the PawPro Pet Insurance Program, aimed specifically at renters with pets. Debuting initially in Texas, this insurance product offers a range of pet-related coverages tailored to meet the unique needs of renters with pets. PawPro’s comprehensive coverage includes emergency pet boarding services, advertising and rewards for lost pets, veterinary fees, coverage for pet death due to injury or illness, and even vacation cancellation protection.
These detailed coverage options ensure pet owners feel secure with financial support during various pet-related emergencies. This program addresses a significant gap in the current insurance market, where policies often overlook pet-owning renters. AM Specialty Insurance will oversee the program, highlighting their dedication to its sustained success and growth. The goal is to achieve $7.5 million in written premiums in its first year, then to scale up to $20 million within three years.
Their confidence in these projections is supported by Swain & Baldwin’s extensive network of retail agents and established relationships within the renters’ market, which are crucial for the program’s reach and acceptance. Additionally, plans for nationwide expansion underscore the anticipated demand and value of the PawPro Pet Insurance Program.
