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INFO STREAM (IS): Tell us a little
about your pet industry experience prior to joining Pets Plus Us.
Randy Valpy (RV): I was hired at
Petplan, which later became Petsecure, in 2001. At the time, I hadn’t owned a
pet since I was in my early twenties and I knew nothing about insurance, let
alone pet insurance! My experience was
20 years in sales and marketing for the home furnishings industry. I believe
that to be successful in the pet insurance industry you have to have good
marketing and business development skills… and I feel that is what I have
brought to the two companies I have worked for. In the 13 years I have been in
this industry, I have developed a true passion for it.
IS: Why are you so dedicated to the pet industry?
RV: You get hooked
on helping people and their pets! Frequently, we pay out pet insurance claims
for companion animals that otherwise may have been put to sleep for financial
reasons. So, not only does our product help the pet owner and their pet, but it
also helps relieve some stress for the staff at veterinary clinics becuase they
don’t have to do so many euthanasias. We regularly receive complimentary notes
and emails from grateful customers, so we know we are doing good work. It is a
great feeling to go home with at the end of every day.
IS: What pets currently share your home?
RV: My wife (who is
a veterinarian) and I have three cats and a Lab X German Shepherd. The dog is 110
pounds of excitement and fun! We also had a 19-year-old cat that recently
passed away.
IS: Over your lifetime, was there a ‘Pet Experience’ that
was particularly memorable, igniting your passion for the pet?
RV: In my life and
work, there are two types of Pet Experiences: my personal ones and those of
other pet owners. Personally, I love the moment when I come home and my dog is
there to greet me or when our office cat, Bruin, is asleep on my desk. And I
can’t forget the 13 dogs in the office walking past my desk every day!
Then, there are the individual insurance claims, far too many
to count, that cross our desks daily. Not only do we help people who have
insured their pets, we look for opportunities to see how we can help those who
have not. For example, when I was CEO at Petsecure, there was an assistance dog
in BC that we helped. There was a tragic accident when the pet owner was
getting on the skytrain. The doors closed before the dog could board and, as a
result, the leash was caught in the door. The dog was dragged along the
platform, which resulted in a lot of injuries. We covered the entire veterinary
bill even though the owner didn’t have pet insurance.
Sometimes we get some press out of cases like this, but
that’s not why we do it! The gratitude from
the individual and knowing that we have made a difference in the lives of these
animals and their owners is our true reward.
IS: Pets Plus Us advertises that they are ‘Champions of
Pet Owner Happiness.’ How so?
Valpy: When you go on
our website it doesn’t scream “Insurance!” We are building an online community
as a resource for all types of pet-related information and provide tools that
can provide peace of mind… to enhance the Pet Experience.
IS: Pets Plus Us is a champion of pet owner happiness for
its employees, too. Tell us about that.
RV: Pets are part of
our corporate culture. Employees are encouraged to bring their dogs to work and
everything about our open plan concept is ‘pet friendly.’ There’s even a sink
built into the floor in the café (as a water bowl for the dogs) and a bathing
station at the front door. We are located in an area where we have walking
paths and a stream – hence the need for the bathtub.
At Pets Plus Us we have a community board filled with thank
you notes and pictures of us volunteering in the community. In fact, we provide
all of our employees with two paid days off per year to volunteer with animal
welfare organizations, but in fact, our employees end up giving back far more
than this as the majority of them also volunteer their time on weekends.
IS: Pets Plus Us launched a new program model in April
2013. How is it different from previous offerings?
RV: We spent a year
really digging into what pet owners were looking for. We learned that people
want choices in pet insurance… and value when they aren’t using the insurance.
Our new program has customized and simplified the experience. Instead of
publishing a terms and conditions (policy wording) pamphlet with small print, we
produce a user guide with a table of contents and examples written in plain
English so that pet owners can easily understand their coverage. We developed plans
that are easy to understand and we also offer stand-alone wellness coverage.
The $7500 or $15000 a year of broad coverage resets each year. There are no
limits on specific accidents or ailments and no lifetime limits.
Our ‘Blue Ribbon Benefits’ also provide added value — you get
something even when you don’t make a claim. For example, our members have
access to a 24/7, toll free PetHelpPhone. We also employ a veterinarian/social
worker who can provide compassionate care services for those facing the death
of a pet. Plus free registration on PetLynx, a subscription to Modern Dog or Cat
magazine… and more!
IS: Are you planning to make any enhancements or changes
to the current program?
RV: Nothing
immediate. While we are receptive to making enhancements, because of all the
forethought that we put into our proposition we are happy with it for now and
it has been exceptionally well received.
IS: Only a small percentage of people buy pet insurance. What
are the actual numbers and why do you believe they are still so small?
RV: There are an
estimated 13 to 14 million dogs and cats in Canada and less than two per cent
(approximately 150,000) are covered by pet insurance. I believe this is because
there is still a general lack of awareness and most pet insurance companies simply
don’t have the marketing dollars to do national mainstream advertising.
Pet insurance has only been available in Canada since 1989.
In the UK pet insurance has been available since 1940’s and about 25 per cent
of pets are insured. In Sweden, it is over 40 per cent. I am confidant that the
numbers in Canada will increase with time.
IS: What do you think the industry can do to better promote pet
insurance?
RV: All sectors of
the industry can promote pet insurance… vets, shelters, breeders, groomers,
retailers and more. Remember, it is not really about ‘selling insurance’ but
about extending pets’ lives and ending the need for economic euthanasia. We all benefit from that!
For vets, the benefits of having more pets insured are
significant. They can practice medicine based on the best interest of the pet
because treatment is not solely dictated by budget. We need vets to introduce and recommend pet
insurance and pet owners will follow up.
IS: Thanks for all the information Randy, we look forward to seeing what Pets Plus Us accomplishes in 2014!
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