Navigation Links
Global pet insurance market set to double in five years
Date:10/13/2018

As news hits that the annual growth rate of the global pet insurance market will reach 14.4 per cent over the next five years, from $3200 million in 2017 to $7170 million in 2023, technology specialist Aquarium Software says technology will be a key driver and could even help drive this growth further. This news comes hot on the heels of an announcement showing that the number of pet payouts is at record levels, with the UK industry paying out £2 million a day (ABI). The figures suggest the security of insuring your pet is proving its worth for those with insurance, yet more must be done to persuade the non-insured that the figures do not lie.

The US market in particular presents great opportunities for insurers and technologists alike. The US has a little over two per cent penetration of pet insurance, with just 2,000,000 pets insured and an estimated 98,000,000 uninsured pets needing cover. This data combined with research upon research about the immensely strong emotional bond between pet and pet parent, suggests a rosy future for the pet insurance market, according to Aquarium.

“Multiple independent data sources are telling us there is a great opportunity in pet insurance, especially in the States,” said Aquarium Software Director, Mark Colonnese. “Technology in the pet insurance world is bringing faster claims, improving the customer journey and cutting opportunities for fraud, all of which leads to more reason for diligent pet owners to insure their beloved pets to cover against something unexpected going wrong,” added Mark. “We can provide the technology platforms and apps, but the wider challenge for the industry remains the refusal of some consumers to see pet insurance as an investment rather than a cost - despite ever rising vet fees and the obvious benefits of insuring. News that the pet insurance market is growing is fantastic; as an industry we can still do more to educate consumers and help drive down premiums using technology innovation. Then we may be able to look forward to an even more prosperous future for the pet insurance market beyond that suggested by this latest data,” concluded Mark.

Aquarium Software is used by a number of travel insurers; pet insurers; and other consumer service providers and affinity partners in the UK, Europe, USA and Canada. For further information contact Aquarium Software on +44 (0)161 927 5620 or visit http://www.aquarium-software.com

Read the full story at https://www.prweb.com/releases/global_pet_insurance_market_set_to_double_in_five_years/prweb15815475.htm.


'/>"/>
Source: PRWeb
Copyright©2018 Vocus, Inc.
All rights reserved


Related medicine technology :

1. Wellness Now a $4.2 Trillion Global Industry – with 12.8% Growth from 2015-2017
2. GlobalMed Logistix Announces Expansion of Atlanta Headquarters
3. WCG Announces — Safety Reporting in Global Clinical Trials: Maximizing Compliance, Minimizing Costs, Free Webinar, Sept. 27, 2018
4. Trivedi Global, Inc. and Carola Sand Announce Research Results on a Biofield Energy Treated Nutraceutical for Reducing Inflammation and Autoimmune Disorders
5. Trivedi Global, Inc. and Sally Henderson Announces Research Results on a Biofield Energy Treated Nutraceutical for Reducing Inflammation and Autoimmune Disorders
6. Trivedi Global, Inc. Announces Research by Maire Mayne on Energy Treated Vitamin D3 which Shows Significant Benefits for Bone Health
7. Carepoynt Closes $2MM Investment Round and Engages US Capital Global to Advise on Series A Venture Round
8. LifeWIRE in the top 10 health related patents recognized for innovation and global impact by ACT: THE APP ASSOCIATION
9. Montero Medical Missions Globally Saving Lives Says Sharon Kleyne
10. Trivedi Global, Inc. and Roland Piedad Announce Research on the Impact of a Biofield Energy Treated Nutraceutical for Decreasing Inflammation and Autoimmune Disorders
11. Trivedi Global, Inc. and Su-Mei Liu Announce Research on the Impact of a Biofield Energy Treated Nutraceutical for Decreasing Inflammation and Autoimmune Disorders
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/11/2019)... ... ... Proven entrepreneur Tony Hartl announced today a new plan to open 21 ... the Planet Tan brand into a multimillion-dollar empire, has already successfully opened ... I came out of retirement after 10 years,” said Hartl. “To have the opportunity ...
(Date:1/11/2019)... ... January 11, 2019 , ... ... ranked among the top US security companies for consecutive years, proudly announces their ... This award recognizes companies that excel at employee relations, use innovation to motivate ...
(Date:1/10/2019)... ... 2019 , ... Innovative Physical Therapy, a leading Physical Therapy ... 312 Martin Luther King Jr Blvd, Suite 102 Baltimore, MD 21201. This is ... , Dr. Bryan Morrow, CEO, has been providing high quality outpatient physical therapy ...
Breaking Medicine Technology:
(Date:1/11/2019)... MINNEAPOLIS (PRWEB) , ... January 11, 2019 , ... ... announced the three finalist teams in its “Next Generation Captive Insurance Solutions for ... by Strategic Risk Solutions. , The three finalist teams are: , ...
(Date:1/11/2019)... ... January 11, 2019 , ... Women’s Excellence specializes in the ... relieve pain, and help restore fertility. , Endometriosis is a disease in which ... grows on the ovaries, fallopian tubes, and the inner lining of the abdomen.  ...
(Date:1/10/2019)... ... January 10, 2019 , ... Net-Translators, an ... with MD101, a regulatory consulting company that serves the medical industry. The companies ... companies in the medical device and healthcare industries. Based in France, they join ...
(Date:1/10/2019)... DIEGO (PRWEB) , ... January 10, 2019 , ... ... education on CBD and Hemp companies, partners with NeuCana Companion to educate dog ... owners. , CBD is believed to help calm pain and anxiety related ailments ...
(Date:1/8/2019)... ... January 08, 2019 , ... ... in sterile compounding, announced that they now have Norepinephrine in their patent-pending ... concentrated, sterile solutions (in concentrations that are not commercially available) deliver a ...
Breaking Medicine News(10 mins):