Synchrony Adds Figo Pet Insurance, Enables Direct Reimbursements at 85% of Vet Practices
Synchrony added Figo Pet Insurance to its CareCredit reimbursement platform, enabling 1.2 million policyholders to receive approved claims as credits to their CareCredit cards at 85% of veterinary practices. Partnership expands insurance network with Pets Best and Pumpkin, boosting CareCredit usage and fee revenue across 27,000 vet locations.
1. Partnership Details
Synchrony has partnered with Figo Pet Insurance to integrate Figo claims into its CareCredit reimbursement platform. Approved Figo claims will now be credited directly to cardholders’ CareCredit accounts, streamlining the reimbursement experience for eligible pet owners.
2. Claims Reimbursement Process
Pet owners pay veterinary bills with their CareCredit health and wellness card, submit an accident or illness claim to Figo, and select CareCredit as the reimbursement method. Once Figo approves the claim, the eligible amount is automatically applied to the cardholder’s CareCredit balance.
3. Network Expansion
This integration brings Figo alongside existing partners Pets Best and Pumpkin, expanding the CareCredit pet insurance ecosystem to over 1.2 million policyholders. CareCredit is accepted at roughly 85% of U.S. veterinary practices and over 27,000 locations nationwide.
4. Financial Impact
By simplifying reimbursement and broadening its insurance network, Synchrony expects increased CareCredit card usage and higher fee revenue from pet healthcare transactions. The enhanced ecosystem aims to reduce payment friction and support timely veterinary care decisions.