Pet Benefits 2022 Year in Review

Pet Benefit Solutions is creating the simplest, smoothest, most seamless pet benefits experience ever. Learn about the newest innovations and partnerships that are relieving HR’s administrative burden.

Pet Benefits 2022 Year in Review

What’s the view from the leading edge of a red-hot industry? In a word: incredible!

In 2022, we increased our team yet again. Our newest product, Wishbone Pet Insurance, exceeded all expectations. And we were listed on the prestigious Inc. 5000 for the fourth year in a row! (The Inc. 5000 lists America’s fastest-growing private companies.)

We had a great year with our PrismHR partner, and we doubled our book of business with some of our broker partners. (Sarah Falk, VP, Voluntary Benefits)

Can we reveal our secret sauce? Absolutely!

We attribute our success to giving clients the smoothest benefits experience possible.
We’re always moving forward, streamlining, simplifying, and improving.

Fabulous Plans: Voluntary Benefits at Their Best

Enrollment in our flagship plans, Total Pet Plan and Wishbone, more than doubled this year! We’re proud but not surprised. Both plans remain one-of-a-kind in the voluntary pet benefits industry. Wishbone, which we introduced in 2021, is the only comprehensive pet health insurance plan designed exclusively for the employee benefits space. Total Pet is a no-exclusion, flat-rate, four-benefit pet care bundle. It includes pet products and vet care discounts, 24/7 pet telehealth, and a lost pet recovery service.

2022 was Wishbone's first full year, and its quote: policy conversion rate was an outstanding 19%. That’s far above the 10% industry average.

New for 2022, we further streamlined our already smooth group onboarding process.

Online group setup: We’re saving busy HR teams time by removing an extra step from the onboarding process. Instead of filling out and sending us a PDF, new groups can now submit their information directly via an online form.

Additional portal resources:Our portal is now more robust and includes resources such as billing and file information. It’s a single stop for administrators, giving them immediate and easy access to their group information in one organized place.

Fabulous Partners: New Benefit Platform Integrations

One of our top goals for 2021-22 was creating pre-built enrollment experiences and EDI feeds for our Total Pet clients. By the end of 2021, we already had formal integrations with almost twenty platforms, including BSwift, Corestream, and PrismHR. A year later, we’re also integrated with Mercer Marketplace 365+ and Plansource Partner Marketplace.

These partners simplify benefits administration and add value for both employees and HR teams. Information sharing, such as for new enrollments or employment terminations, is simpler than ever. It’s now extremely easy for companies that are already using these platforms to add Total Pet. And employees can better understand and access their benefits to maximize their value.

Essentially it comes down to lifting the administrative burden off clients and giving their employees an exceptional enrollment experience. (Amy Crane, VP, Voluntary Benefits)

Fabulous People: A Team of Pet Benefits Experts

We can’t say enough about our amazing Pet Benefits team! Every person in every department comes to work “all-in,” committed to our vision. This year, we grew our team again to meet greater demand. Specifically, our customer service and account management team expanded to better serve our growing client base.

I'm inspired by our team every day! They're never satisfied with the status quo and are constantly improving our already great products and customer service. (Rachel Ostreicher, PBS COO)

2022 was full of progress and innovation, but we’re not done yet! Join us as we continue to improve and revolutionize the voluntary pet benefits market.

Originally posted on https://www.petbenefits.com/blog/pet-benefits-2022-year-in-review