Dishing with Darryl -- Trupanion's pricing philosophy
About Darryl Rawlings
Darryl Rawlings, founder and chair of the board at Trupanion, has described the company’s pet insurance product as offering “the broadest coverage in the industry” and said that its pricing philosophy is “to be fair.” He stated that Trupanion pays 90% of the actual invoice, has no limits or caps, and pays hospitals directly at the time of invoice. Rawlings contrasted Trupanion’s approach with other insurers, saying that some products reduce coverage on anniversary dates or increase rates based on a pet’s age or claims history, which he characterized as unfair. He said Trupanion does not penalize pets for aging or for being “unlucky” and that if a pet is enrolled as a puppy, it stays in that price category for life. Rawlings also discussed the company’s relationship with veterinarians, calling them “heroes” and stating that Trupanion does not determine what constitutes good veterinary care or what veterinarians should charge. He described the problem Trupanion aims to solve as helping pet owners budget for unexpected veterinary costs, noting that the first year of a pet’s life has the highest frequency of illness or injury, while years two to five can involve the most expensive surgeries. In a 2015 talk, Rawlings said that in hiring, the company looks for people who can solve problems and use data to inform decisions, and he emphasized the value of being comfortable with failure.