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04/30/2020

Innovative New Pet Health Start-up, Pumpkin Insurance Services, Launches in the U.S.

Launched by leading animal health company Zoetis

Uniquely combines preventive care with best-in-class health insurance for dogs and cats

NEW YORK--(BUSINESS WIRE)-- Pumpkin Insurance Services , Inc. (“Pumpkin”), a new pet insurance agency and pet care company, announced today the launch of its new insurance and optional monthly preventive care plans for pet owners in the U.S. Launched by Zoetis (NYSE:ZTS), the world’s largest global animal health company, Pumpkin is now available to consumers in many states.1

With its holistically designed plans, Pumpkin addresses a gap in the pet care industry by offering competitive pet health insurance and preventive care so pet owners can help their pets stay healthy year-round. Rather than wait until animals are sick or injured to provide care, Pumpkin’s Preventive Essentials plan – available at an additional cost to the core insurance plan – helps enable families to give their pets crucial routine care that veterinarians universally recommend for cats and dogs.

Specifically, Pumpkin’s Preventive Essentials plan includes the following:

  • For dogs: Reimbursement for the costs of one annual wellness exam fee and two vaccines administered at such annual visit; and provides a 12-month supply of Zoetis’ Simparica Trio® (sarolaner, moxidectin, and pyrantel) for protection against heartworm disease, ticks and fleas, roundworms and hookworms for only $15.95 per month.
  • For cats: Reimbursement for the costs of one annual wellness exam fee and one vaccine typically administered at such annual visit; and provides a 12-month supply of Zoetis’ topical 6-in-1 parasite preventive, Revolution® Plus (selamectin and sarolaner topical solution) for a monthly fee of $10.95.
  • Direct shipment of these parasiticide medicines delivered to the pet’s home -- a service no other insurer provides.
  • Automatic digital reminders to administer preventive medications and to schedule vaccines via Pumpkin’s best-in-class technology platform help pet owners ensure their cats and dogs get timely treatment.

By making each pet owner’s healthcare responsibilities as easy and seamless as possible, Pumpkin aims to significantly increase the currently low percentage of pets that are compliant with preventive medication (based on internal Zoetis data) so that cats and dogs stay healthy and out of the emergency room. With Pumpkin's Preventive Essentials, pet owners can save as much as $240 annually on parasite protection, vaccines and wellness exams alone.2

“Pet insurance is being vastly underutilized by pet owners in America today. With Pumpkin, we are enabling pet parents to proactively prioritize the health of their pets and make the best health decisions for their animals -- so we can help ensure our fur children live their longest and healthiest lives,” said Alex Douzet, CEO of Pumpkin.

Although cats and dogs have become inseparable members of the family – even more so in these uncertain times -- 98% of pet owners currently lack any form of health insurance for their cats and dogs.3 Nevertheless, annually, 1 in 3 pets will have a medical emergency which will cost pet owners from $800 to $1,500 per visit on average.

Backed by Zoetis, Pumpkin provides pet owners peace of mind in helping to provide their pet the best veterinary care and wellness possible, with less financial stress.

“We are thrilled to support the launch of an innovative pet insurance and preventives plan that makes it easier and more economical for pet owners to give their best friends the best care possible – while keeping them connected to their veterinarian for essential services,” said Kristin Peck, CEO of Zoetis. “Pumpkin is a great example of how Zoetis strives to reimagine animal health with fresh approaches to help our veterinary customers better predict, prevent, detect and treat disease for their animal patients.”

As part of its product offering, Pumpkin Pet Insurance is also offering accident and illness pet insurance plans underwritten by United States Fire Insurance Company, a Crum & Forster Company and produced by Pumpkin.4

For more information about Pumpkin, or to compare your current insurance plan with the coverage Pumpkin offers, go to www.pumpkin.care .

About Pumpkin Insurance Services Inc.

Pumpkin Insurance Services, Inc. (Pumpkin) is a direct-to-consumer pet care company and insurance producer founded to ensure pets live their longest and healthiest lives. Pumpkin Pet Insurance plans offer dog and cat owners advanced veterinary care coverage. Pumpkin Preventive Essentials offers life-threatening disease prevention through reimbursing for vaccines and tick, flea and heartworm medications, enabling consumers to make data-informed care decisions based upon their individual pet’s health needs. All Pumpkin Plans provide reimbursement for covered care administered by any licensed veterinary clinic in the U.S. and Canada. Pumpkin Pet Insurance policies do not cover pre-existing conditions. Waiting periods, annual deductibles, co-insurance, benefits limits and other exclusions may apply. For information about Pumpkin’s Pet Insurance and/or to learn more about Pumpkin’s optional add-on, non-insurance Preventive Essentials benefits, visitors can review Pumpkin’s insurance Terms and Conditions at pumpkin.care/insurancepolicy and at pumpkin.care/customeragreement , respectively. Additional information, including where Pumpkin services are currently available, may be found by visiting www.pumpkin.care .

About Zoetis

Zoetis is the leading animal health company, dedicated to supporting its customers and their businesses. Building on more than 65 years of experience in animal health, Zoetis discovers, develops, manufactures and commercializes medicines, vaccines and diagnostic products, which are complemented by biodevices, genetic tests and precision livestock farming. Zoetis serves veterinarians, livestock producers and people who raise and care for farm and companion animals with sales of its products in more than 100 countries. In 2019, the company generated annual revenue of $6.3 billion with approximately 10,600 employees. For more information, visit www.zoetis.com .

Forward-Looking Statements: This press release contains forward-looking statements, which reflect the current views of Zoetis with respect to: business plans or prospects; future operating or financial performance, future operating models; expectations regarding products, product approvals or products under development; expected timing of product launches; suppliers, customers and employees; and other future events. These statements are not guarantees of future performance or actions. Forward-looking statements are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if management's underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. Zoetis expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, including in the sections thereof captioned “Forward-Looking Statements and Factors That May Affect Future Results” and “Item 1A. Risk Factors,” in our Quarterly Reports on Form 10-Q and in our Current Reports on Form 8-K. Such risks and uncertainties may be amplified by the coronavirus (COVID-19) pandemic and its potential impact on the global economy and our business. These filings and subsequent filings are available online at www.sec.gov, www.zoetis.com, or on request from Zoetis.

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1

Pumpkin is not yet available in all states. To find out if Pumpkin is available in your location visit www.pumpkin.care.

 

2

American Animal Hospital Association, Veterinary Fee Reference 10th Edition, 2018.

~$72 = Cost of Lyme Vaccine + 1-Yr Rabies Vaccine based on 75th Percentile Urban Pricing.

~$56 = Cost of Annual Wellness Exam Fee based on 75th Percentile Urban Pricing.

Zoetis Services LLC., “Minimum Advertised Price (MAP) Policy”, 2020.

~$303.80 = Cost of 12 doses of Simparica Trio™ (sarolaner, moxidectin, and pyrantel chewable tablets). Retail pricing based on two 6 PKs (72MG) at $151.90 per 6 PK. Pumpkin Preventive Essentials costs $191.40/yr and covers 2 vet-administered vaccines + 1 annual exam fee + 12 doses of Simparica Trio, so enrolled pet owners can save ~$240/yr on these items

 

3

North American Pet Health Insurance Association, State of the Industry, 2019.

4

Pumpkin Insurance Services Inc. (Pumpkin) is a licensed insurance agency, not an insurer. Insurance is underwritten by United States Fire Insurance Company, a Crum & Forster Company and produced by Pumpkin. Pumpkin receives compensation based on the premiums for the insurance policies it sells. Pumpkin Preventive Essentials is not an insurance policy. It is offered as an optional add-on non-insurance benefit. Pumpkin is responsible for the Pumpkin Prevent Essentials product and its administration.

 

Contact:

Media Contacts:
Loren Talley
Zoetis
908-603-7810
loren.talley@zoetis.com

Christina Lood
Zoetis
973-822-7249
christina.lood@zoetis.com

Lindsey Bailys
GCI Health
786-252-1702
lindsey.bailys@gcihealth.com

Investor Contacts:
Steve Frank
973-822-7141
steve.frank@zoetis.com

Marissa Patel
973-443-2996
marissa.patel@zoetis.com

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