After months of whispers and speculations, Zoetis has officially launched its pet insurance company, Pumpkin. Many of my colleagues had heard about their pilot program, and were eagerly awaiting its debut.

I think this is an incredibly smart and strategic move by Zoetis, and I also think it signals future moves by the world’s largest veterinary pharmaceutical company. In fact, I think we’ll soon have to drop the “pharmaceutical” designation and stick with “veterinary company.”

I also want to point out that this post is not affiliated with Zoetis or Pumpkin. I just wanted to let my veterinary colleagues know about it because I think our clients are going to ask us questions about it. Let’s jump into it! 

First, why launch a new pet insurance company now, during a global pandemic?

That’s the first stroke of Zoetis genius. In North America and many parts of the world, we’ve witnessed a huge surge in pet adoptions. Confined in their homes, these new pet parents are exploring care for their pet. Instead of their first stop being at the veterinary clinic, for many their initial foray in pet care was on the internet.

I’m also witnessing many first-time Millennial pet parents choosing a pet insurance provider before a veterinarian.

I recently spoke with a young pet parent who told me they wanted to select a veterinarian based on whether or not they accepted their pet insurance. The times, they are a’changing.   

Many stay-at-home pet parents are able to more closely observe their pet’s health, and are seeking ways to preserve health and longevity. I think we’re going to see a definite shift toward preventive medicine and practical strategies for extending pet life expectancy post-pandemic. 

Interestingly, Zoetis is promoting at launch pet insurance as protection against the sticker shock of veterinary emergency room visits, citing “annually, 1 in 3 pets will have a medical emergency which will cost pet owners from $800 to $1,500 per visit on average.”

I agree that more pet parents need to be financially prepared for veterinary medical emergencies. I’m concerned that by focusing on cost, the messaging inadvertently positions veterinary care as overpriced instead of framing it as providing highly-advanced, life-saving treatments. 

What I think Zoetis does an excellent job of doing is promoting its preventive care plans. For only an additional $15.95 a month for dogs and $10.95 for cats, insured pets receive 12 months of heartworm, flea and tick preventives, one annual exam visit, and two vaccines as determined by their veterinarian.

In another stroke of business brilliance, Zoetis is utilizing its pet insurance platform to deliver Simparica and Revolution Plus, along with its line of immunizations. Of course, there’s also a digital reminder system to make sure pet parents don’t forget to administer preventives for veterinary visits.           

Pumpkin’s website is fresh, easy-to-navigate, and explains their product well. I was able to generate a plan and get estimates for my two dogs and cat in a few minutes. It’s important to note that Pumpkin pet insurance (say that three times fast) is not available yet in all 50 states. When you generate a plan, it will tell you if it is now available in your state. It would be great to see a list on the main page about where I could purchase it, instead of having to register a pet to find out or dig through other pages and documents. Minor quibble.

Definitely check it out at Pumpkin.care.

If you accidentally enter Pumpkin.com, you get a placeholder webpage. Bet Pumpkin.com is holding out for a payday. 

That’s it for another edition of Off Label Veterinary News. If you like content like this, don’t forget to subscribe and give it a thumbs up. Stay safe and keep living that Off Label life!