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Podcast
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Starting a Company: Profiting from Pets
Betsy Flanagan of Startup Studio interviews Laura Bennett, founder of Embrace Pet Insurance, which beat out dozens of tech companies to win the Wharton Business Plan Competition.
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49. How to Bring a New Product Idea to Market
AllBusiness.com's Chris Bjorklund interviews InventRight's Stephen Key, a successful inventor with a 20-year track record, ... (PODCAST) |
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Hide Text TranscriptIn the US, more money is spent each year on cats and dogs than on babies. My guest is Laura Bennett, the co-founder of Embrace Pet Insurance, a company that is partnering with Lloyds of London to offer health insurance for pets. The market is enormous. In the US alone, there are 73 million dogs and 90 million cats and projected annual growth of insurance premiums is 45%. Embrace Pet Insurance was launched in 2003 after Laura and her partner won the annual Wharton Business Plan Competition, beating out dozens of Internet and technology ventures. Despite this strong start, it took over three years before the company could sell their first policy. Tune in to hear how Laura persevered and made her dream a reality.
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