March 4, 2008

Industry Pioneers CBSI & Pets Best Insurance Partner

Pet Insurance Now Offered to Financial Institution Customers

Harrison, N.Y., March 4, 2008 – Veteran financial services industry specialist CBSI and Pets Best Insurance Services of Boise, Idaho have partnered to market pet insurance products to consumers through financial services distribution such as credit card and checking account issuers, membership service and employee benefit providers.

CBSI is the leading developer of marketing and account enhancement programs for financial institutions and corporations. CBSI provides programs and services that reach over 200 million consumers. Pets Best Insurance is a leading provider of pet insurance that is experiencing extraordinary acceptance and growth. Pets Best Insurance provides pet owners with 80% coverage after a deductible for veterinary health care, and also provides wellness benefits. Pets Best is earning high marks among consumers and veterinarians because there are fewer limitations, policy holders can choose any veterinarian, and enjoy easy state-of-the-art online claims technology and fast reimbursements. Sponsors such as credit card and checking account issuers, and membership benefit providers can contact CBSI to offer pet health insurance to their customers or members.

According to a recent survey by the American Pet Products Manufacturers Association, 63% of households own a pet, and pet owners spent $40.8 billion on their pets in 2007, up from $29.5 billion five years ago.  Pet owners care for over 85 million cats and 70 million dogs and spent $9.8 billion for veterinary care last year. 

CBSI Vice President Peter Alter notes that, “Pet-owning households are double the number of households with children, and pet spending is one of the top 10 retail segments in the U.S. We are all pet lovers here at CBSI, and this program is a great way for pet owners to be able to economically take care of injured or ill pets.”  Alter adds, “Credit card and debit card spending for pets and their care is a large category for consumer bank account issuers.  Financial institution sponsors can provide the program to their customers through a number of marketing channels including billing statements and websites.   When customers sign up and have their monthly premiums billed to their account, not only do sponsors earn fees, but their account retention is improved as enrolled customers will want to keep their benefits in place to care for their pets.”

The founder of Pets Best Insurance is Dr. Jack Stephens. According to Dr. Stephens, “In my many years of providing pet insurance to families, today is an important milestone that will translate into major expansion for our company and pet insurance in general.  CBSI is one of the most respected, successful and innovative providers to our nation’s financial institutions.”

Dr. Stephens adds, “Today’s announcement is clearly a signal that pet insurance has finally arrived and millions more pet families will realize the importance and benefits of pet insurance.   This greatly improves our ability to grow the entire industry, and we thank CBSI for their foresight and understanding of the importance of pets in our households.” Dr. Stephens is the pioneer of pet insurance in America and is considered the most experienced innovator of pet insurance in the United States with over twenty-five years of experience.

Pets Best is licensed in all 50 states and underwritten by North Pointe Insurance, rated ‘A’- Excellent by A.M. Best.

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CBSI is a leading developer of direct response marketing programs designed to attract, activate and retain customers, and generate revenue.  The thirty – five year old firm based in Harrison, NY, near New York City with a mid west office in suburban Chicago,  provides enhancement programs that provide travel protection, retail purchase protection, identity theft and disability-unemployment benefits that cover more than 200 million consumers.  More information is available at www.CBSIServices.com  or by calling 914-381-5353.

About Pets Best Insurance: Pets Best Insurance reimburses pet owners for services from the veterinarian they choose, with no schedules or fee restrictions, truly establishing it as "Pet insurance that really pays!" Pets Best Insurance was founded by Dr. Jack Stephens, the pioneer of American pet insurance with over 25 years in the pet insurance industry. Dr. Stephens is also an accomplished veterinarian and avid pet enthusiast. Pets Best includes a choice of three affordable coverage plans with a straightforward 80:20 claims reimbursement structure and NO benefit schedules. The Pets Best Insurance team is a highly skilled and professional group of pet lovers who have developed products based on innovation and insight into veterinary care. Visit Pets Best Insurance at www.petsbest.com or phone Pets Best Insurance at 877-PetsBest (738-7237).  Pets Best, Simply the Best Pet Insurance!  Media Contact: Loran Hickton at Pets Best Insurance 1-866-609-PETS .