Trupanion processes a record 1 million invoices
A second achievement, the Innovation in Insurance Award, recognizes the company’s cutting-edge claims payment system.
Trupanion, the nation’s second-largest pet health insurer, is celebrating a record and an international award.
The Seattle company reported processing 1 million policyholder invoices in 2019, an all-time yearly high, as of Nov. 21. Two weeks earlier, Trupanion received an Innovation in Insurance Award for its proprietary software and claims automation.
The 1 millionth invoice was tied to a 1-year-old standard poodle from Ohio that had been treated for pancreatitis. Trupanion paid a $1,080 claim.
“Processing 1 million veterinary invoices in a single year is a milestone and a testament to the team, and in particular those at Trupanion who work 24/7 365 days per year on behalf of our members to help pay their veterinary invoices,” said company CEO and founder Darryl Rawlings.
Trupanion has paid nearly $1 billion worth of veterinary invoices since 2000. Through the third quarter of 2019, it insured 613,694 pets, a 12-month increase of 23%.
Earlier in November, the company was presented with the Innovation in Insurance Award in the category of Offering and Experience Innovation. The global competition was sponsored by the financial services association EFMA and the professional services company Accenture.
Trupanion was credited for its artificial intelligence-driven automation, which lies at the heart of the Trupanion Express claims payment platform.
The software was recognized “as a benchmark for excellence across the insurance industry,” said chief revenue officer Margi Tooth.
“Direct payment to the veterinary hospital in literally seconds reduces our members’ out-of-pocket costs and helps protect the hospital experience for veterinary teams, letting them focus on providing the best medicine,” Tooth said.