Following approval of its APRA general insurance licence, PetSure becomes a standalone insurer to better represent pet health
15 March 2023, Sydney, Australia – Today PetSure (Australia) Pty Ltd (PetSure) was granted a general insurance licence from the Australian Prudential Regulation Authority (APRA), making PetSure the first general insurer in Australia that’s solely dedicated to pet health insurance.
PetSure applied for its general insurance licence to support its strategic objectives demonstrating its commitment to pet health. The licence will enable PetSure to focus on developing systems, frameworks and processes that are unique to the pet health industry, unlike other providers who cater to multiple insurance classes.
Alex Thomas, PetSure CEO, said the new licence will give the company greater flexibility and independence to achieve strategic objectives.
“Today marks a watershed moment in PetSure’s history that reinforces our position as a leading enabler for pet health in Australia, and an innovator in the broader insurance industry.
Harnessing over 20 years of experience as a pet health insurance administrator, we believe the licence will strengthen our ability to better represent the interests of our stakeholders. Becoming a standalone insurer will help us unlock greater innovation and advocate for better customer outcomes.
We are committed to delivering excellence in product and service delivery, in line with industry best practice. Our focus and our passion remains unchanged.
Customers will experience no service disruption with this change, and will continue to see and use great insurance products administered by PetSure. Existing customers will remain on the Hollard licence during the transition period while new customers will be insured under the PetSure licence as Partner brands transition. In time, all customers will be offered policies under the PetSure licence” Thomas said.
PetSure is working collaboratively with stakeholders including brand partners and the veterinary community to implement the administrative changes that will be necessary under the new licence.
As the only general insurer in Australia dedicated to pet insurance, PetSure is committed to improving the growth and sustainability of the industry so it can continue to advocate for better pet healthcare outcomes for people and their pets.
ENDS
Media Contact:
Jenny Williams
Chief Marketing Officer (CMO)
About PetSure:
PetSure is a leading pet health company and industry leader administering pet insurance products across Australia and New Zealand.
For over 20 years, PetSure has been the market leader in both size and innovation. PetSure administers the pet insurance policies of 28 partner brands.
As the category leader, and in close collaboration with members of the veterinary industry, PetSure continually seeks to extend coverage, keep pace with modern veterinary practices, provide policies that are transparent and operate with the highest levels of integrity.
