PetPartners, Inc., the Newest Subsidiary of Independence Holding Company, Announces Extension of Long-standing Relationship w...
March 27 2017 - 5:41PM
Independence Holding Company (NYSE:IHC) announced that PetPartners,
Inc., its newly acquired subsidiary that markets and administers
pet insurance, has extended its relationship with the American
Kennel Club (AKC).
“We are pleased to welcome IHC and this new
relationship,” remarked Dennis B. Sprung, President and CEO of the
American Kennel Club. “We are happy to have a strong and dedicated
partner with an extensive history of providing quality pet health
insurance. We look forward to helping American pet owners and
breeders become more familiar with pet health insurance.”
The AKC registers hundreds of thousands of puppies
each year and PetPartners markets insurance plans through
www.akcpetinsurance.com to those new registrants, offering new
owners a means to ensure their dogs’ health and well-being as they
grow.
“The pet health insurance market continues to grow
robustly with average annual growth rates of 12%, but yet, less
than 2% of the dog and cat population in the United States is
insured today,” shared Rick Faucher, President of PetPartners and
IHC’s Pet Health Division. “The partnership that AKC and
PetPartners continue to have is remarkable. The message is getting
out to new pet owners and the growth in policy sales continues to
rise steadily. We look forward to deploying IHC’s resources and
expertise in designing and distributing insurance to expanding on
that growth,” Mr. Faucher added.
IHC has been in the pet health insurance business
since 2011. PetPartners is a pet insurance administrator
based in Raleigh, North Carolina, which sells pet health insurance
covering dogs and cats nationally, and has marketed pet insurance
to AKC registrants since 2002.
“From the first meetings with the AKC and
PetPartners management, it was clear there was a longstanding
success story upon which we can build,” commented David T. Kettig,
Chief Operating Officer of Independence Holding Company. “IHC adds
marketing, sales support and product resources to the equation and
we look forward to accelerating the growth of insurance within the
AKC constituency.”
“In addition, given PetPartners’ flexible
administrative platform which is able to accommodate payroll
deduction, IHC will be able to bring pet insurance to the worksite
marketplace through its extensive broker and national account
relationships,” stated Mr. Kettig.
For more information, please contact Jeena Choi at
Jeena.Choi@IHCGroup.com or Brandi Hunter at BTH@AKC.org. Please
visit www.petpartners.com, www.akcpetinsurance.com and www.akc.org
for additional resources.
About The IHC Group Independence
Holding Company (NYSE:IHC) is a holding company that is principally
engaged in underwriting, administering and/or distributing group
and individual specialty benefit products, including disability,
supplemental health, pet, and group life insurance through its
subsidiaries since 1980. The IHC Group owns three insurance
companies (Standard Security Life Insurance Company of New York,
Madison National Life Insurance Company, Inc. and Independence
American Insurance Company), and IHC Specialty Benefits, Inc., a
technology-driven insurance sales and marketing company that
creates value for insurance producers, carriers and consumers (both
individuals and small businesses) through a suite of proprietary
tools and products (including ACA plans and small group medical
stop-loss). All products are placed with highly rated
carriers.
About American Kennel Club Founded
in 1884, the American Kennel Club is a not-for-profit organization,
which maintains the largest registry of purebred dogs in the world
and oversees the sport of purebred dogs in the United States. The
AKC is dedicated to upholding the integrity of its registry,
promoting the sport of purebred dogs and breeding for type and
function. Along with its more than 5,000 licensed and member
clubs and its affiliated organizations, the AKC advocates for the
purebred dog as a family companion, advances canine health and
well-being, works to protect the rights of all dog owners and
promotes responsible dog ownership. More than 22,000 competitions
for AKC-registered purebred dogs are held under AKC rules and
regulations each year including conformation, agility, obedience,
rally, tracking, herding, lure coursing, coonhound events, hunt
tests, field and earthdog tests. Affiliate AKC organizations
include the AKC Humane Fund, AKC Canine Health Foundation, AKC
Reunite and the AKC Museum of the Dog. For more information,
visit www.akc.org.
AKC, American Kennel Club, the American Kennel Club
seal and design, and all associated marks and logos are trademarks,
registered trademarks and service marks of The American Kennel
Club, Inc.
Become a fan of the American Kennel Club on
Facebook, and follow us on Twitter @AKCDogLovers.
About PetPartners Inc.PetPartners
history dates back to the 1980s when British-owner and leading
innovator in pet insurance, Sir. John D. Spurling created a pet
health insurance company exclusively for the Kennel Club in Great
Britain. PetPartners provided pet health insurance to dogs and
puppies in the United Kingdom for nearly two decades before its
arrival in the United States. Since 2002, PetPartners has been the
exclusive provider of pet health insurance protection to
registrants of the American Kennel Club through the AKC Pet
Insurance. In 2004, PetPartners was selected by the Cat Fanciers'
Association, the largest registry of purebred cats, to provide
health insurance to CFA registrants. In 2009, PetPartners
began to offer its new PetPartners-branded products both to
individuals and groups (such as associations, companies and credit
unions). PetPartners became a member of The IHC Group in 2017.
Forward-looking StatementsCertain
statements and information contained in this release may be
considered “forward-looking statements,” such as statements
relating to management's views with respect to future events and
financial performance. Such forward-looking statements are
subject to risks, uncertainties and other factors that could cause
actual results to differ materially from historical experience or
from future results expressed or implied by such forward-looking
statements. Potential risks and uncertainties include, but
are not limited to, economic conditions in the markets in which IHC
operates, new federal or state governmental regulation, IHC’s
ability to effectively operate, integrate and leverage any past or
future strategic acquisition, and other factors which can be found
in IHC’s other news releases and filings with the Securities and
Exchange Commission. IHC expressly disclaims any duty to
update its forward-looking statements unless required by applicable
law.
CONTACT: LOAN NISSER
(646) 509-2107
www.IHCGroup.com
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