Fursure moves beyond pet insurance
In 2019, Fursure was born.
The idea – create a pet insurance comparison service that was personalized, fast and easy. “Researching pet insurance takes hours and isn’t fun. That’s why many of us put it off until it’s too late. Let us handle the comparison hassle for you. We’ll guide you every step of the way.”
According to our Data, Fursure partnered with Spot Pet Insurance, Pets Best, Pumpkin Petcare and others to present insurance options.
Currently, the company’s Crunchbase profile has been updated to represent $6 million in total funding, split between two $3 million seed rounds raised last year and more recently, this month. Further, the company has a broader mission – a mobile banking service/app for pet parents. “With the Fursure Rewards Debit Card, earn supercharged points on all your spend that can be redeemed towards any & all vet bills.” Here’s how it works: Every dollar spent on a pet qualifies for 5x points, every dollar spent on something else qualifies for 1x point and when the user reaches 100 points he gets one dollar towards the vet bills.
The debit card is issued by Blue Ridge Bank .
As an aside, a company like Synchrony Financial will offer a credit card that can only be used to cover health and wellness treatments for humans and pets, which is a quicker solution at a time of an emergency. Whereas, using Fursure requires patience to build up any meaningful rewards, although the startup does mention the ability to unlock “exclusive discounts with leading pet brands, and earn supercharged points” as well as “opportunities to earn points within the app without having to spend a dime.”
Fursure is continuing to offer a pet insurance comparison service – it is still its most obvious source of revenue.
Bottom Line: Pet distributors can be categorized into two categories: aggregators, which present options from various underwriters, and mono-brands, which present one or more options from a single underwriter (options are typically divided into accident, accident and illness, and/or the addition of a wellness package). Being the former is not what you want (page 32).
