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CUVRO launches pet insurance in Puerto Rico 

With the goal of providing the best digital experience for consumers and introduce new products based on customer needs, CUVRO, formerly known as Pop Insured, officially launched its pet insurance today.

Co-founded by Gabriel Casellas and César Campillo, the startup serves as a platform for insurance agents and brokers. It offers a digital solution for selling insurance products online across various channels. This enables them to accelerate their digital transformation with minimal effort and costs, resulting in more efficient sales and higher growth potential.

“We work closely with insurance companies to develop new products, digitize existing products and processes,” Casellas said in an interview with News is my Business. “We use our platform to create a quote and purchase process that is easy, simple and safe for the consumer.” 

CUVRO has the support and business of insurers that the market “already knows and trusts,” he said, referring to firms such as Zurich-based CHUBB; Puerto Rico’s Antilles Insurance, Tolic and Universal Life; as well as Madrid-based Maprfre, and Venezuela-based Multinational Insurance.

The startup offers clients the opportunity to purchase personal lines insurance policies “quickly, reliably and effectively,” he said 

Casellas said the idea to create CUVRO, formerly known as Pop Insured, emerged after the founders, who had lived stateside for many years, “saw the type of innovation and technology offered to consumers.”

“Trying to adapt to the reality in Puerto Rico, the insurance industry hasn’t had many changes over the past few years, and we wanted to help boost innovation and the improvement of the industry with a technological solution,” Casellas said. 

Campillo explained that CUVRO is a technological platform focused on the insurance industry, where they develop insurance products alongside innovative distribution channels or sales channels, “meaning that these currently don’t exist, or the existing channel or product hasn’t been able to cover the needs of the market or the client.”

In recent years, the insurance industry has gone through numerous changes, but not many have been based on planning or implementing new technology to improve processes, and in turn, the existing products and coverages offered.

“So, we are focused on developing a platform that, thanks to our technology, we can introduce new products that adapt to the clients’ real needs, and at the same time, it offers the client the coverage they need at the moment they need it,” Campillo added.

Products that meet needs
Casellas explained they currently do not offer insurance plans, but rather create insurance products that adapt to the current reality of consumers.

“We saw that there wasn’t a pet insurance offering for Puerto Rico’s clientele, so we created a comprehensive plan that covers accidents and illnesses,” Casellas said.

The executive further explained that amid the pandemic, there was an increase in the number of pets in people’s homes, “and that had to be addressed.” The pet insurance plan covers dogs and cats. 

Casellas noted that there are more pets in people’s homes today than there are people themselves.

“So, we look at these trends, these habits, the way consumers are living their lives, and we try to bring products to the market that relate to that reality,” Casellas explained.

Campillo, meanwhile, said the product is a comprehensive insurance for pets that any broker or insurance agent in Puerto Rico can add to their product portfolio and offer.

“Right now, the product can be sold directly to the consumer. So regardless if the consumer has an insurance plan or not, it can be sold to an insurance agent, an insurance broker, who can then sell it to their client as a pet insurance,” he said.

The plan is for insurance agents and brokers to learn more about the product and see how “we are offering it on our website, so they can also integrate it into their business plan,” he said. 

Casellas said the insurance covers illnesses, diagnosis, injuries and recovery. The coverage has three components: accidents, illnesses and preventive care.

“The preventive care component has more to do with dental cleaning and sterilization,” Casellas said.

Campillo further noted that the product and its coverage offer up to a 90% reimbursement of “your veterinary expenses.”

“So, a client goes to a veterinarian because their dog suffered a fracture or has symptoms of an illness, and the veterinarian charges $1,000, with our coverage the client only pays $100, after having paid an annual deductible of $250,” Campillo said. “The most important aspect is that since it works through reimbursement, it works with any veterinarian islandwide.”

Campillo and Casellas said that the startup was initially called Pop Insured, but they changed the name to CUVRO, based on market trends. 

“For us, as we studied the market, we understood that we needed to find a name more aligned with what we are trying to achieve,” Campillo said. “At the end of the day, what we offer are coverages in a virtual or digital manner, and that is how we got the name CUVRO. 

“It is a virtual coverage, but more than anything, we wanted to keep the essence of our offering, continuing with the same focus, but being in the insurance industry, we wanted to let [the industry] know that we are a young enterprise, a different enterprise, and that we always look to meet the clients’ future needs, understanding that the current clients are different clients, modern clients. We are a company that considers itself to be modern. That is why we changed the name to one that has more to do with the service or product that we offer.” 

CUVRO has created three direct jobs to date and is looking to add two more employees in the technology area before the year ends.

“We are very focused on being able to improve the offerings that we give brokers and agents, who at the end of the day, are our business partners, and our investment is very focused, very directed toward that aspect,” Casellas said. “On the business side, in what relates to sales and operations, that part is managed mostly by César and I, and any future investment, particularly on the personnel side, will be directed in the technology area in all that we can do to improve that experience and the functionality,” Casellas said.

Product lineup
CUVRO offers seven products: pet insurance, two life insurance products, one travel insurance and three products in the cancer and critical illnesses insurance area.

“It should be noted for the benefit of brokers and agents that are interested in our technology and services that we don’t only have innovative products such as the pet insurance product… We are the only company right now [in life insurance] that allows you to obtain a quote and buy the insurance in less than 5 minutes without requiring a doctor’s certification, and with a value of up to $250,000,” Campillo said. 

CUVRO plans on launching more innovative products in the near future, such as car and home insurance.

Author Details
Author Details
Maria Miranda is an investigative reporter and editor with 20 years of experience in Puerto Rico’s English-language newspapers. In that capacity, she has worked on long-term projects and has covered breaking news under strict deadlines. She is proficient at mining data from public databases and interviewing people (both public figures and private sector individuals). She is also a translator, and has edited and translated an economy book on Puerto Rico’s fiscal crisis. She worked as an interpreter for FEMA during the recent recovery efforts of Hurricane María and earned her FEMA badge.

1 Comment

  1. FJ July 11, 2023

    Do they have a webpage we can get more information about their pet insurance program?


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