Benzinga | Dec 7, 2021 11:19AM EST

Chewy Partners With Pet Insurance Firm Trupanion

* Chewy Inc (NYSE:CHWY) has partnered with pet medical insurance company Trupanion Inc (NASDAQ:TRUP) to offer an exclusive suite of pet health insurance and wellness plans to its ~20 million customers. The financial terms of the arrangement were not disclosed.

* Chewy will offer customers preventative care wellness plans and comprehensive insurance plans for accidents, illnesses, and chronic conditions through the partnership.

* Chewy expects to leverage Trupanion's patented software to pay veterinarians directly, thus reducing out-of-pocket expenses and increasing access to care.

* The plans will be available for purchase on Chewy.com beginning in Spring 2022.

* Price Action: CHWY shares are trading higher by 2.80% at $61.21 on the last check Tuesday.