Laura Bennett

 

 

CEO and Co-Founder of
Embrace Pet Insurance

 

 

by Kiara Rainey, crew 1
 

 

“It’s like seeing a seed that you planted grow.” Laura Bennett recalled while describing her very successful company. She is a 48 year old woman from Portsmouth, England. Bennett has lived here in Cleveland for 10 years and says that her favorite thing about living here are the interesting and varied people because “without the people it’s just another city.” She is also the CEO and cofounder of a popular pet insurance company called Embrace Pet Insurance. Embrace Pet insurance is a company that makes affordable pet insurance products and policies.

 

Bennett went to college at the University of Western Ontario for 4 years then went to the University of Pennsylvania for two years to obtain her Master’s in Business Administration. While in school, one of her friend’s cat got sick and they spent over $5,000 trying to help the cat get better. After that situation Bennett and her friends thought ‘we should’ve gotten pet insurance.”

While attending the University of Pennsylvania, Bennett also participated in the Wharton Business Plan Competition (WBPC) which is an event that assists beginning entrepreneurs get their business started and off the ground. The team she worked with won first prize and that was the beginning of her company.

 

The Wharton Business Plan Competition experience made Bennett realize she could make a difference in pet insurance so, she created new pet insurance products that now sell widely across the U.S. Although it took around 3 years for her pet insurance policy to start selling, Bennett contributes her success in being able to open an insurance business to her participation in the competition.

 

Laura Bennett is a Cleveland renaissance woman because she created a new and improved, more affordable pet insurance policy to help make it easier for people to buy pet insurance. Also with the new affordable pet insurance plan more pet’s lives will be saved and the pet owners won’t have to worry about financial issues when it comes to pet insurance money.

 

Today Embrace Pet Insures over 31,000 pets and makes over 16 million dollars a year. Bennett says she hopes the design of her pet insurance policy would influence other companies to change their policies to help even more pets and pet owners. “Being an entrepreneur you should never let your fears stop you.” That’s a word of advice Bennett gave us, but it also was what Bennett kept in her mind to help her when it comes to making her business better and more successful.