Yoursthe 100% digital neo-insurer, is expanding its product portfolio and launching into pet health insurance, after verifying that, increasingly, the care of dogs and cats has become a fixed expense in million Spanish households. In Spain, there is a pet in one in four households, which represents approximately 10 million pets. It is therefore necessary to protect them and the demand for veterinary health insurance is now a reality.
So, if an average citizen spends between 1,200 and 1,400 euros annuallyand to cover the needs of a cat they invest 986 eurosPurchasing insurance can mean significant savings for homeowners. Tuio insurance offers a fair price, also allowing the option to pay monthly or annually. However, its rental is more accessible compared to other proposals on the market.
Tuio’s proposal is located around 25 euros per month on average and offers one of the broadest coverages in the veterinary market. Insurance includes everything from veterinary visits, emergencies, surgeries, preventive consultations and vaccines to more sophisticated care such as rehabilitation treatments.
One of its distinctive elements is the support available 24 hours a day of the day: the customer can request telecare from their mobile phone and connect to the Tuio network of veterinarians. Thus, they offer an alternative to in-person visits to the veterinarian, for certain occasions when it may be more convenient.
Various surveys carried out by veterinary associations indicate that there is increasing concern for the health of pets, as well as the economic efforts of their owners to protect them. Health insurance can therefore be a relief for them. 15% of those insured by Tuio in its home policy they have a petand expressed interest in this type of coverage.
Another advantage of Tuio veterinary insurance is that it works in any veterinary clinic in Spainthere is no closed list of clinics to which owners can take their pets. In fact, it also works outside of Spain if the owner is on vacation or traveling and something happens to their pet (within a limit of 3 months outside of Spain).
How the insurance works is as follows: after the consultations, the insured will simply have to download the veterinary invoice on the tuio application to receive their reimbursement. Thus, all management of the refund request and its return It’s completely digitalas in the rest of the company’s insurance. This helps streamline and simplify tasks.
50,000 fonts
Tuio’s vision is to cover 15,000 customers with your pet insurance for the next three years. We must not forget that studies place the increase in the population of dogs and cats at percentages higher than the 10% each yearwhich places this type of service on a market destined to develop.
“In two years, we have succeeded all 50,000 fonts in home insurance in Spain, because we have been able to listen to the needs of customers and we believe that starting to offer health coverage for pets only responds to what they are asking us,” he explains. Juan Garciaco-founder of Tuio.
“What differentiates us as an insurtech compared to other veterinary insurance companies is the agility of management, the speed of response, the flexibility of our policies and the fact that, even if we are 100% digital, we let’s manage get closer to our customers and meet their individual needs,” García emphasizes.
Remote assistance by video call
Tuio’s 100% digital experience, which allows you to automate processes and streamline procedures, also makes televeterinary care possible via video call.
The insured will have at their disposal, at no additional cost, the video consultation and chat service with a veterinarian. In addition, they will have a telephone 24/7 emergencies with a veterinarian. This service also includes advice for everyday pet-related issues.
The most notable coverages of Tuio’s veterinary insurance for dogs and cats are:
- Preventative care: These include the usual annual preventive checks and vaccines prescribed by the veterinarian.
- Veterinary care: Coverage of 80% of veterinary costs, including visits and emergencies due to an illness or accident of the animal.
- Surgeries and surgical treatments: It covers expenses related to surgical procedures, including anesthesia, pre- and post-operative treatments and medications needed for recovery.
- Analysis and diagnostic tests: It includes clinical analyses, radiological tests, MRIs, ultrasounds and other examinations necessary for a precise diagnosis.
- Medicine: Coverage of the costs of medicines, dressings and remedies (prescribed by a veterinarian) necessary for an illness or accident, up to 300 euros.
- Dentist: Coverage for dental care needed due to an accident.
- 24/7 veterinary care: Policyholders will be able to access remote veterinary assistance by chat and video call from the tuio application, available Monday to Friday from 10:00 a.m. to 10:00 p.m., and telephone veterinary advice 24/7.
- Specialized treatments: Coverage for stem cell treatments, pheromone therapies for behavior modification, and dental treatment needed after an accident.
- Travel coverage: Protection when traveling outside Spain for a period of up to 90 days, covering veterinary costs and loss of the animal.
- Theft or loss costs: Pay advertising costs to recover the animal and boarding costs if it cannot be returned immediately.
Tuio tries not to write fine print and keeps everything simple and clear, making it clear from the start which services are not included:
- Pre-existing and chronic illnesses
- congenital diseases
- Gestation and childbirth
- Maltreatment and inadequate care
- aesthetic treatments
About Tuio
Tuio, the digital neo-insurance company of Spanish origin, burst onto the market in 2021 thanks to the leadership of Juan García, Asís Pardo and José María de Lucas. With a first round of funding 450,000 euroswhere they obtained the support of Capital Certainty, Cabiedes&Partners, Bewa7er or 7r Ventures, alongside a group of business angelsthe business is launched. Many of these investors participated in the second investment round, of three million euros, in which the international fund Otium Capital led the investment, alongside Extension Fund, Kalonia and BamCap. Everything to arrive at the end of 2023 26,000 home insurance contracts. The acquisition of Luko makes it the first home insurtech on the digital market. The objective is to continue to grow in this sector, doubling its customer base year after year, diversifying its products and the countries where it operates.
