Milo reaches 10,000 customers in its first year and exceeds €4 million in premiums

Milo has reached 10,000 customers during its first 12 months of activity and has exceeded €4 million in premiums, according to the Spanish insurtech itself. The company, which specialises in veterinary insurance for dogs, has thus consolidated its first year in a market that still has low penetration in Spain.

Veterinary insurance is beginning to gain ground as expenses associated with pet care increase. Consultations, diagnostic tests, hospitalisations and surgeries can represent a significant expense for families, especially in the case of unexpected procedures or treatments.

In this context, taking out policies appears to be a way of meeting these costs with greater predictability. However, the Spanish market is still far from the levels seen in other European countries. Only around 4% of dogs currently have health insurance.

A market with room for growth

Spain has nearly 10 million dogs, according to the latest data published by FEDIAF. Despite this figure, the uptake of veterinary insurance remains lower than that recorded in countries such as the United Kingdom or Sweden.

The difference between the number of dogs and the percentage of insured animals points to significant potential for this sector. The European veterinary insurance market could grow at an annual rate of around 12.8% between 2026 and 2034, driven by rising veterinary care costs, greater awareness of animal welfare and the development of digital solutions.

The low penetration of veterinary insurance is not explained solely by a lack of interest. The perception that these products are complex, of little use or difficult to use also plays a role. For families, understanding the cover, taking out the policy and requesting reimbursement can be decisive when deciding whether or not to insure their dog.

“More and more people consider their dog a member of the family and want to provide it with the best care possible. However, when an illness or surgery occurs, many discover that the cost can be very high. We believe this reality is driving a change in the way veterinary insurance is understood,” explains Ferran Llisterri Eyre, founder and CEO of Milo.

Cover and management from a mobile phone

Milo offers veterinary insurance with reimbursements of up to 100% of expenses and cover of up to €3,000 a year. Its policies also include vaccinations and access to a 24-hour televeterinary service.

The company has designed its offering so that customers can carry out the main procedures through the mobile app. Through the app, it is possible to take out insurance, view and manage the policy and request reimbursements. To start the latter process, users must upload the veterinary invoice and clinical report.

The aim of this model is to simplify a relationship that can traditionally involve paperwork and documentation. The company seeks to make taking out and using insurance more straightforward, both when owners need information and when they have to deal with a veterinary visit or treatment.

Alongside its digital tools, Milo maintains a team dedicated to supporting customers and answering their questions. The company presents this combination of technology and personalised service as a central part of its offering.

Artificial intelligence as a management aid

The insurtech uses artificial intelligence to automate administrative processes, speed up document management and reduce response times. According to the company, this automation enables its human team to devote more effort to personalised support.

The technology is therefore applied to tasks related to insurance management, while human support remains part of the service when customers need to resolve a query or address a problem.

“We do not want to digitise the bureaucracy of the past. We want to rethink veterinary insurance from scratch, from how the product is designed to how it is explained, taken out and used. Technology allows us to do this at scale; people and values allow us to do it well,” Llisterri adds.

Milo’s model is built around five foundations: product, technology, brand, people and values. The first focuses on offering specialised veterinary insurance geared towards real-life situations. Technology helps simplify and scale the experience, while the brand aims to make a traditionally complex insurance category easier to understand.

The human element remains important to the company, particularly when customers need guidance. Finally, the values are linked to animal welfare and to the partnerships Milo maintains with animal shelters and foster homes to support adoption and facilitate access to veterinary care.

A team of 25 professionals

The company’s growth during its first year has also been reflected in the creation of a team of 25 professionals. Their profiles specialise in insurance, veterinary medicine, technology, artificial intelligence, marketing and customer service.

This combination of areas reflects the multidisciplinary nature of the project, which combines insurance activity with a digital platform, veterinary guidance services and tools for managing documentation and reimbursements.

After reaching 10,000 customers and exceeding €4 million in premiums, Milo is now entering a new phase. Its priorities are to consolidate its presence in Spain, continue developing its technology platform and gradually expand its services for dog owners.

Pet health gains importance for families

Milo’s development comes at a time when families are paying increasing attention to their pets’ health. Rising veterinary spending is prompting more owners to consider options that allow them to respond to illnesses, accidents or procedures without unexpectedly having to bear the entire cost.

The company believes this change in the relationship with animals is helping to transform perceptions of veterinary insurance. Pets are taking a central place in the home and, as a result, concern is growing about ensuring access to any care they may need.

Even so, penetration figures show that veterinary insurance is still a developing category in Spain. The gap compared with other European markets leaves room for new offerings that seek to make access to these products easier.

Milo’s offering combines reimbursement insurance, preventative cover, 24-hour veterinary guidance and digital management supported by artificial intelligence. The company’s stated purpose is to ensure that cost does not prevent a dog from receiving the veterinary care it needs.

More information about Milo is available on its official website{rel="nofollow"}.