Aflac, Trupanion to establish pet insurance joint venture in Japan
Aflac Incorporated, through its subsidiary Aflac Life Insurance Japan, and Trupanion will set up a pet insurance joint venture (JV) in Japan under the name Aflac Pet Insurance.
While Aflac Incorporated is an American insurance company that provides supplemental insurance in the US. Aflac Life Insurance Japan provides medical and cancer insurance in Japan.
On the other hand, Trupanion is a US-based medical insurance provider for cats and dogs.
Their Aflac Pet Insurance joint venture is expected to make use of Aflac’s brand, expertise in insurance, and distribution network in Japan with Trupanion’s know-how in pet insurance.
Margi Tooth — Trupanion President said: “We are excited to enter Japan through our alliance with Aflac, which remains a supportive shareholder and partner.
“We see an opportunity within the Japanese market for a pet insurance product that is aligned with the veterinary community. We look forward to partnering with Aflac to build trust among veterinarians and their staff at Japan’s more than 10,000 veterinary hospitals.”
From the second half of next year, subject to the required regulatory approvals, Aflac Pet Insurance will offer pet medical insurance for helping pet owners budget for unexpected healthcare for their pets.
Frederick J. Crawford — Aflac president and Chief Operating Officer said: “We are pleased to expand our partnership with Trupanion, the industry leader in U.S. pet insurance, to increase our value proposition in the Japanese market.
“This joint venture will combine Aflac’s brand recognition, broad distribution network and industry leadership in Japan with Trupanion’s brand, strong reputation and expertise within the pet insurance industry.”