Petplan Chairman awarded Gold Stevie at International Business Awards

photo credit

Metro Bank and Petplan pet insurance Chairman, Vernon Hill, was awarded the Gold Stevie® Award in the Chairman of the Year category at the 2013 International Business Awards last month. 

Hill was awarded the Gold Award for his positive contribution to the UK banking sector and his ability to create opportunities that ultimately improve experiences for customers. Hill was described as "instrumental in Metro Bank's successful launch and the subsequent explosive growth of the UK's most customer focused high street bank." 

Hill joined Petplan as Chairman in 2008. His past accomplishments include former chairman and president of Commerce Bank, which he founded in 1973. Forbesmagazine, in its annual 20/20/20 list, shows Hill as the fourth-highest-performing public company CEO across two decades with a 23% compounded shareholder return. Hill's philosophy that great companies are built by creating fans, not customers, has been paramount in his business successes. 

The International Business Awards are the world's most premier business awards program. They were created in 2003 to honour and generate public recognition of the achievements and positive contributions of businesses and working people worldwide. This year's awards, the 10th annual awards, were judged by more than 250 executives around the world. 

READ THE NEWS RELEASE

APPA Projects Pet Health Insurance to Grow at 13% per Annum

Pet Health Insurance is emerging as a viable and sustainable sector and many U.S. and Canadian start-ups are turning to the numbers when they consider their next business move. 

The American Pet Product Association estimates the size of the North American pet insurance industry is close to $500 million, with an average growth rate of 13% each year. The industry is forecast to grow organically as consumers and companies become more familiar with pet insurance brands and opportunities.

In Canada, Wal-Mart (2012), PetPlan (2012) Pets Plus Us (2013) are new to the pet insurance market. In the United States, Cabelas (an outdoor outfitting retailer) began offering pet insurance in 2011 when it discovered Cabelas customers, outdoor and hunting enthusiasts, wanted to take care of their pets as well.

According to Veterinary Pet Insurance (VIP), the oldest and largest pet insurance provider in the U.S., pet insurance is successful as more and more people consider pets as members of the family. 

Pet insurance companies are also seeing an increase in the number of policies offered to employees as part of their insurance package. More than 3,000 companies offer VPI pet insurance, including one-third of the Fortune 500 companies. 

Related News:
CNBC - Wal-Mart dips its toe into pet health insurance

Where in the World is William Skubovius?

A phone call from the missing man gave InfoStream a chance to catch up. Bill has accepted a position with Petplan Insurance. Skubovius is now the Vice President of Canadian Markets for the US parent Fetch, Inc.

Bill was the Vice President of Business Development for Western Financial Insurance Company and the Petsecure brand of Pet Health Insurance until his departure in early 2013. Western Financial Insurance Company is Canada's largest pet health insurance provider, underwriting pet insurance for brands such as Walmart Canada, Desjardins, PurinaCare, President's Choice, HBC, CAA, and Petfirst.

The first Canadian licensee of the 'Petplan' brand for pet health insurance was Hayhurst, Elias, Dudek, Inc. of Winnipeg, Manitoba. This company became HED Insurance and Risk Services and under the aggressive leadership of Art Elias and Randy Valpy created a proprietary underwriter SecuriCan Insurance Company. The Petplan license was then dropped in favor of a new brand Petsecure. Eventually, HED was acquired by Western Financial Group of  High River, Alberta, which in turn was acquired by the largest cooperative financial group in Canada, Desjardin.
  
Today, Petplan is a global pet insurance brand that is by some estimates the world's largest.  Petplan North America (Fetch Inc.) was founded by Chris and Natasha Ashton and introduced to the US market in 2006.  In April 2008, Vernon Hill II, invested in the company providing both capital and the notoriety of his aggressive approach to financial services. Mr. Hill is an ardent pet owner and often travels with his Yorkshire Terrier, Duffy.

Speaking to Fortune Magazine in 2010, Hill said:

"People used to put down their pets when they got sick. Now they're members of the family. People will want to save them with kidney transplants and hip replacements. This business will be huge."

The Petplan brand was re-introduced to the Canadian market in 2012. And according to Skubovius, Petplan is a leading supplier of pet health insurance to organizations such as The Humane Society of the United States and the North Shore Animal League America in the US market. Policies in Canada are underwritten by Allianz Global Risks US Insurance Company one of the world's largest players in property and casualty (P&C) insurance.

Petplan Pet Insurance Triples in Size Since 2008

Pet health insurance, as an industry, has seen remarkable growth over the past decade. Despite the recent economic downturn, which has forced many businesses to drastically cut expenses, the positive momentum and continued evolution of this industry has been fueled by rising costs in veterinary care and a marked change in the way American families view their pets. Petplan, America's top-rated pet insurer, has witnessed firsthand how these factors have come together to drive the growth of the pet insurance industry as its own business has expanded rapidly. In just the past three years, Petplan has tripled its Philadelphia-based workforce and its gross written premiums have risen by more than 2200 percent.

"Petplan is proof that passion, strong leadership and the right partners can help businesses create market share ? even in a recession ? and emerge as leaders of the recovery," says Natasha Ashton, co-founder of Petplan. "We are enormously proud that Petplan pet insurance helps pet parents budget for unforeseen accidents, illnesses and emergencies. Time and time again, we have seen how, when a pet parent must tighten its financial belt, the ability to confidently seek the best care for their four-legged family members' health, provides essential peace of mind."

The pet health insurance industry has demonstrated tremendous growth in a short amount of time in the United States but this growth is not exhausted. According to 2011 research from the American Pet Products Association only one percent of the 93 millions cats and three percent of the 78 million dogs in America are covered by pet health insurance policies. For more information about pet health insurance, please visit www.gopetplan.com.

ABOUT PETPLAN
As America's top-rated pet insurance company, Petplan offers customizable policies to meet any coverage requirements and budget for pets of all/any age. Petplan is the only insurer to cover all hereditary and congenital conditions for the life of the pet ? without dollar limits per condition.