Insurance Had a Good Run

“Don’t get me started on insurance companies, you pay more every month and they make it more difficult for you to get reimbursed every day.” – Eusoh YouTube video, 13 seconds in .

Play.

https://www.youtube.com/watch?v=uI6vzWyE-JI

Enter Eusoh , a Los Angeles-based startup established in 2017 by Allen Kamrava, a physician and surgeon. It has raised $2M and is currently in beta mode. The Idea – an alternative to pet insurance that offers a community-based, cost sharing service with the aim to make pet care more affordable and transparent. Here’s How it Works: Eusoh allows pet owners to create or join groups of like-minded pet owners. Each group lists the shareable expenses, which allows members to know what procedures are reimbursable. Groups need to reach a “minimum viable size” to go live and start sharing costs, and that’s when members begin paying a monthly fee of ~$10. In the event where a group’s expenses exceeds the pooled money, Eusoh brings in money from other groups to help cover the costs.

Note: (1) Eusoh doesn’t limit members to specific service providers. (2) Members are not required to get pre-authorization from Eusoh. (3) Eusoh expects to reimburse members within the following month. (4) There’s a waiting period of 64 days.