Axis Insurance, the specialty insurance business segment of Bermuda-based Axis Capital Holdings Limited, has entered the pet insurance market via its accident and health unit through a strategic relationship with managing general underwriter Petplan.

Axis Insurance said that it will provide underwriting capacity for comprehensive pet insurance policies for dogs and cats in the United States and Canada.

James Hamilton, global head of accident and health for Axis Insurance, said: “Our relationship with Petplan is an exciting way for us to enter the North American pet insurance marketplace and an area of insurance that complements our existing global accident and health portfolio.”

Petplan is the fourth largest MGU in the US and Canada dedicated to pet insurance, providing insurance coverage to more than 280,000 pets.

Paul Guyardo, president and CEO of Petplan, said: “Given our growth over the last few years, expanding our underwriting capabilities with a partner like Axis Insurance makes sense. Together, we look forward to bringing our industry-leading coverage to even more pet parents across North America.”

Axis said that customers can access the insurance product via Petplan through an intuitive mobile platform that provides seamless claims processing and excellent customer service.

Petplan’s mobile platform is backed by machine-learning capabilities designed to predict a pet’s health trajectory and provides customers with information aimed at improving pet wellness and decreasing vet care costs.