Trupanion to release third quarter earnings Thursday amid strong, increasingly competitive pandemic puppy economy
On Thursday, October 29, pet insurance company Trupanion Inc (Nasdaq: TRUP) will report its 2020 third quarter earnings after the market closes. As TCR reported in August following Trupanion’s second quarter earnings announcement, most areas of the pet industry have done relatively well during the pandemic. Trupanion saw a 28% revenue increase compared to the same period last year for its second quarter–and a 15% increase in enrollment.
It’s been a busy and successful year for the U.S. pet insurance market at large, which has seen eight newcomers since 2017 alone: Wagmo (2020), Spot (started in 2019 with personality Cesar Milan as its figure head), Lemonade (July 2020), Prudent Pet (2018), TrustedPals (2019), Bivvy (2018), Companion Protect (2017), and Pumpkin (2019). The newcomers offer some of the most budget friendly options in the pet insurance market, but there are a staggering number of pitfalls neatly tucked away inside the fine print of the policies.
Stay tuned for TCR’s in-depth report on pet insurance upstarts and how they compare to Trupanion and Nationwide in the pandemic puppy economy.