For $40, I could cover a single exam fee for a single pet, or I could cover one month of premiums for the Healthy Paws plan with the lowest deductible. That's how I pay for my own pet's care, and my net savings are in the range of several thousand dollars.
With insurance, you're also able to save pets with time-sensitive (or even emergency) problems.
If that were combined with proper preventative care (similar to the Banfield plans, where people essentially pre-pay for checksup/vaccines/etc.), then you'd have comprehensive coverage for a pet at around $80/month.
Going one step further, if you raised enough money, you could pay for these things using the interest without touching the principal. Each ~$15k raised would cover one additional pet (assuming, let's say, high-dividend index funds).
I understand that your business model is to inspire people to donate by seeing sick pets, but I'm not sure many people go out looking for that kind of thing.