Stockholm-based animal-friendly startup Lassie is expanding its services to Germany. It offers the first pet insurance that – in addition to providing coverage – helps pet owners reduce preventable illness and injury in their pets. From now on, dog and cat owners in Germany have the opportunity not only to insure their beloved four-legged friends with Lassie, but also to gain indispensable knowledge for the correct handling and care of pets in everyday life.
Lassie was founded in 2020 by Hedda Båverud Olsson (formerly of McKinsey and EQT), Sophie Wilkinson (formerly Head of Pet Insurance at If P&C Insurance), and Johan Jönsson (10+ years of experience as a full stack developer at King and Spotify, among others) in Stockholm, Sweden and is now also available in the German market with a branch office in Berlin. To date, the startup has raised more than €13 million.
Prevention begins with knowledge
The platform rewards its customers monetarily for improving their skills: those who read articles and correctly answer the associated quiz questions on topics such as dental care, first aid, the right diet or other risks for pets in the Lassie app can reduce their monthly premiums. If these prevention-focused courses are successfully completed, customers earn points, which can then be redeemed as discounts on their insurance premiums from the insurer.
Co-founder and CEO of Lassie, Hedda Båverud Olsson, says: “As the daughter of a veterinarian, I grew up knowing that access to healthcare for pets is very important. I was shocked to learn that about 40% of the most common injuries and illnesses in pets could have been prevented if their owners had the proper knowledge to care for them. We launched Lassie to help close these knowledge gaps and thus help pets live healthier lives.”
High costs of vet care and mandatory insurance
As recently as November 2022, the Fee Ordinance for Veterinarians (GOT) was raised, and so the cost of veterinary care for pets has increased. In addition, in many states, dogs are required to be insured with their own liability insurance. Having pet insurance protects pet owners against unforeseen costs, for example, due to accidents, injuries, or necessary surgery.
Lassie offers various insurance models for all of these needs – from dog owner liability to pure surgery protection, and complete health coverage. But the company goes one important step further: customers are given important additional information and taught pet care skills by veterinarians, experts, and dog trainers that help them preventively maintain the health of their pets. Customers who engage with the app in this way are rewarded with discounts on their monthly premiums.
Customers simply need to create a profile of their pet, which is then linked to their insurance policy. In this way, pet owners receive personalized tips and recommendations, such as when their pet’s next vaccination is due. Piles of paperwork are a thing of the past, as all insurance documents are digitally accessible. Claims submission is also conveniently handled in the app, which is available for iOS and Android.
Additionally, customers can book video consultations with professional vets from Lassie’s partner, Pfotendoctor. Depending on the type of insurance chosen, the consultations are free of charge. An appointment can be made within a few minutes, even at night, at weekends and on public holidays. In over 70% of cases, the help provided in the consultation saves pet owners the high costs and stress of a trip to the vet. You don’t need to be a customer to take advantage of what the Lassie app has to offer. Any dog or cat fan may use the Lassie app to enjoy the courses and gain important knowledge about the care of their beloved pets, free of charge.
Lassie works with HDI Global Specialty SE (HGS), the specialty insurer within the Talanx Group, as its insurer. With an A+ rating (S&P and A.M. Best) and based in Hanover, Germany, HGS is a strong local partner for Lassie.
“We are proud to be a reliable partner for Lassie as they enter the German market. We are convinced that their offer will be met with great interest in Germany,” said Ralph Beutter, CEO HDI Global Specialty SE.
Following the successful launch of Lassie in Sweden in July 2021, over 20,000 dogs and cats have already been insured with them, heralding a new approach to pet insurance – from reactive to proactive. Sophie Wilkinson, Lassie’s co-founder and Chief Operating Officer, and previous head of pet insurance at If P&C – one of the largest Nordic insurers – now brings her expertise to Lassie.
Commenting on the German market entry, she says: “Our goal is to help dog and cat owners prevent illnesses and injuries to their pets so that they can have a long and happy life with them. An offering like Lassie’s has been lacking, and we are proud to be the first to develop preventative pet insurance. We’re very excited to help our customers in Germany act before problems arise, not only after.”
