In this episode, I interview Darryl Rawlings, the CEO and Howard Rubin, the COO of Trupanion pet insurance company. We talk about their recently introduced program called Trupanion Express.
Darryl Rawlings Howard Rubin
Since pet insurance was introduced in the United States in 1982, it has operated according to a "reimbursement" model where pet owners pay their veterinarian and then file a claim seeking reimbursement for covered expenses minus the deductible and copay. Trupanion Express is an innovative alternative to the reimbursement model.
Using Trupanion Express, pet owners pay their deductible, copay and any other uncoverd expenses to the veterinarian when their pet is discharged from the hospital. Trupanion reimburses the veterinarian the balance of the invoice via direct deposit into the hospital's bank account oftentimes before the pet owner leaves the hospital. Since all this is done electronically, there is minimal paperwork or time involved in the process.
This has the potential of making pet insurance available to many pet owners who haven't been able to take advantage of pet insurance before because of having to come up with potentially thousands of dollars out-of-pocket in the case of a large veterinary bill. This could mean that more pets will get the care they really need without money being a limiting factor.
In Part 1, we discuss the development and vision for Trupanion Express and an overview of how it works. In Part 2, I'll talk with Dr. Kerri Marshall about the nuts and bolts of how it works in daily practice. Be sure to catch both episodes by subscribing to the podcast (link below). Be sure and check out previous episodes also.