Vsurance provides an array of pet insurance products and numerous web-based companion animal resource sites for pet owners. All of the Company’s sales, marketing and insurance claims processing are Internet-based. Vsurance also offers a unique online reference library of pet health resources, a pet ID and lost and found service, and a variety of insurance policies for pets.
Vsurance’s CEO, W. Russell Smith, developed the concept of insuring household pets and has been active in the pet insurance business for the past 12 years. Since April, 2000, Mr. Smith has served as the President of Pets Marketing Insurance.com. Additionally, Mr. Smith founded a pet related reinsurance company, which became an important player within the pet insurance market under his leadership with over 30,000 written policies per year.
The analyst concluded the report stating, “Pet insurance becomes an increasingly attractive alternative for pet owners who want to keep their vet care costs manageable while keeping their pets healthy and happy. Of the 163 million cats and dogs in the United States today, only about 2% are insured. We have rated VSUR a Speculative Buy and established a $2.20 price target for these shares, which is more than twice the current share price.”