ManyPets to exit the US market

Pet insurance startup ManyPets is exiting the US market in an effort to focus on the UK market. Last year, the startup exited the Swedish market.

ManyPets is partnering with pet insurance startup Odie Pet Insurance, which will offer terms for continuous support and coverage to ManyPets customers with policies renewing from January 1, 2025. Renewal offers for these policies will begin going out on November 1, 2024 and will be subject to underwriting approval.

ManyPets entered the US market in March 2021 in partnership with Accredited Surety and Casualty Company. In 2023, Accredited reported ~$21.5 million in premiums produced by ManyPets. In 2022, ManyPets acquired a licensed carrier from Munich Re so it could write its own policies, but in August we reported that the startup is looking to sell the carrier.

Based on our sources, the US market was viewed as a top priority at ManyPets, but the startup struggled from an operational standpoint. As of Q3 2022, the ManyPets US unit had around 100 employees.

“ManyPets has developed what we consider to be the best coverage option for pet parents across the US. We’re delighted to announce this next stage of our journey as we join forces with Odie in the US to make sure that pets and pet parents in the US continue to receive great coverage.” – Robb Granado, US CEO of ManyPets.

“We are thrilled to be offering renewals and a continuation of services to all ManyPets customers. We are confident they will appreciate our caregiving ethos and look forward to providing exceptional value and support on their pet parenting journey.” – Miles Thorson, CEO and Co-Founder of Odie Pet Insurance.