Consumer financial services firm Synchrony is collaborating with pet insurance marketplace Pawlicy Advisor to introduce pet healthcare financing. Synchrony’s CareCredit, a financing solution for veterinary care, will be available in the Pawlicy Advisor pet insurance marketplace.
The strategic partnership between the two companies makes CareCredit’s primary financing solution available to over 300,000 pet parents that use Pawlicy Advisor’s free online resources each month, according to a press release on Monday (Jan. 17).
CareCredit gives pet owners access to an affordable option for veterinary care, and Pawlicy Advisor’s partnership with CareCredit fills a gap in veterinary care, as many policies have a waiting period or don’t cover preexisting conditions. The policy also can be used for out-of-pocket expenses that insurance doesn’t cover.
“Affordable health and wellness solutions are essential for today’s growing pet parent population,” said Jonathan Wainberg, senior vice president and general manager, Pets, Synchrony.
“The addition of the CareCredit financial solution in the Pawlicy marketplace, in addition to our pet insurance solution, Pets Best, helps further our shared goal of offering a Lifetime of Care for pets and ensures all pets — even those with preexisting conditions — are able to get the care they need,” Wainberg said.
Founded in 2018 and headquartered in New York, Pawlicy Advisor was initially launched as a personalized, data-driven comparison site for pet insurance policies, and has since become a resource for pet parents and veterinarians seeking financial protection for their pets.
Per the release, adding CareCredit as a financing option gives pet owners a comprehensive set of available solutions to help plan for their pets’ healthcare costs.
“As we looked to fill the gap for those pet parents who either didn’t qualify for pet insurance or those for whom the out-of-pocket costs are too high, CareCredit was our first call,” said Woody Mawhinney, Pawlicy Advisor CEO and co-founder.
“Not only is CareCredit the leader in veterinary treatment financing, with a proven, best-in-class offering, but it also shares our commitment to innovation and education on how to offer our beloved pets the best possible care,” Mawhinney added.