ManyPets, a pet insurance startup, is withdrawing from the U.S. market to prioritize its business in the UK. The company previously departed the Swedish market last year.
To ensure a smooth transition for existing customers, ManyPets is partnering with Odie Pet Insurance. Odie will provide ongoing support and coverage to ManyPets customers with policy renewals starting January 1, 2025. Customers will begin receiving renewal offers on November 1, 2024, subject to underwriting approval.
ManyPets initially entered the U.S. market back in March 2021, in collaboration with Accredited Surety and Casualty Company. In 2023, Accredited reported approximately $21.5 million in premiums generated by ManyPets. Subsequently, ManyPets acquired a licensed carrier from Munich Re in 2022 to directly underwrite policies. However, reports surfaced in August indicating that the startup was seeking to sell the carrier.
Sources suggest that the U.S. market was a high priority for ManyPets. Still, the company encountered operational challenges. As of the third quarter of 2022, ManyPets’ U.S. unit employed around 100 people.
“ManyPets has developed what we consider to be the best coverage option for pet parents across the US. We’re delighted to announce this next stage of our journey as we join forces with Odie in the US to make sure that pets and pet parents in the US continue to receive great coverage,” said Robb Granado, US CEO of ManyPets.
“We are thrilled to be offering renewals and a continuation of services to all ManyPets customers. We are confident they will appreciate our caregiving ethos and look forward to providing exceptional value and support on their pet parenting journey,” remarked Miles Thorson, CEO and Co-Founder of Odie Pet Insurance.
