The partnership will support ‘ambitious’ development strategies for both businesses

MGA ManyPets UK has partnered with European digital insurer Wakam as its new UK carrier.

As part of the partnership, Wakam will underwrite all of ManyPets’ UK policies from January 2023 – enabling the MGA to continue its roll out in the US market, which began almost two years ago.

The insurer, on the other hand, will gain the opportunity to improve its diversification by building its presence in the UK animal insurance market – in line with its international expansion strategy.

ManyPets currently insures around 500,000 pets globally, having secured $350m (£289m) in its Series D funding round last year.

Wakam provides digital and embedded insurance products to over 150 distribution partners via a B2B2C model.

Business alignment

Steven Mendel, chief executive and co-founder of ManyPets, said: “We are thrilled to bring Wakam on board as our new UK carrier, during what is such an exciting time for ManyPets.

“It is fantastic to partner with such a forward-thinking insurer and one that aligns with our commitment to being a responsible (pet loving) business.

“We have ambitious plans to continue supporting even more pet parents with the very best pet insurance and health products as we head into 2023.”

Meanwhile, Wakam’s chief executive and chief product officer Olivier Jaillon said: “We are very pleased about this long-term partnership with ManyPets, which perfectly aligns with Wakam’s development strategy.

“It was an evident choice for us to collaborate with ManyPets, a reliable partner that shares our strengths and values as a growing, digital, transparent, committed and ethical player.

“It allows us to step into the animal insurance market, which is booming in continental Europe today and to further consolidate our presence in the United Kingdom.”