TRUP - 1 Top-Dog Pet Stock for the Long Run
Pets are family, and we care for their health and happiness as such. But it's difficult for pet owners to accurately budget for the health expenses of their pets when they get sick or injured. Trupanion (NASDAQ: TRUP) , a leading medical insurance provider for pets, helps pet owners eliminate the uncertainty around the cost of pet healthcare. As the company keeps growing rapidly, investors have three key reasons to take a closer look.
When Darryl Rawlings was 14, his family couldn't afford surgery for his pet dog Mitzi. Inspired by this experience, Rawlings founded Trupanion in 2000 with the mission of making the best possible medical care more affordable and accessible to pet owners.
Pet insurance has grown in popularity over the past two decades, yet owners of less than 3% of the 180 million pet dogs and cats in North America have enrolled for insurance. The US and Canada are lagging behind some European counterparts such as the UK and Sweden, where 25% and 40% of pets are covered by insurance, respectively. Considering that 120 million of the pets in North America visit the vets every year, the potential market opportunity for Trupanion can be very compelling if North America's pet insurance adoption can reach even a fraction of what we see in Europe.
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1 Top-Dog Pet Stock for the Long Run