Trupanion (TRUP) is collaborating with URvet Care for its Vet Direct Pay insurance product for pet parents, the veterinary care provider said Tuesday.

Financial terms of the collaboration were not disclosed.

Vet Direct Pay is a pet insurance feature that directly pays Trupanion's share of expenses to a veterinarian, instead of reimbursing it later to the pet owner.

Shares of Trupanion were down 1.2% in recent trading.

Price: 53.51, Change: -0.64, Percent Change: -1.18