Pet Insurance Market - Global Outlook and Forecast 2020-2025

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81 company

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GLOBAL PET INSURANCE MARKET SIZE TO CROSS USD 13 BILLION BY 2025, GROWING AT A CAGR OF 20% DURING THE FORECAST PERIOD

Pet Insurance Market Size, Share, & Trends Analysis Report by Pet Type (Dogs, Cats, and Others), Insurance Type (Accidents and Illness, and Accident Only), Distribution (Agency, Bancassurance, Brokers, and Direct Writing), and Geography (North America, Europe, APAC, Latin America, and Middle East & Africa), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020-2025
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PET INSURANCE MARKET REPORT SCOPE

REPORT ATTRIBUTEDETAILS
Market Size (Revenue)USD 13 Billion (2025)
CAGR20% (2020-2025)
Base Year2019
Forecast Year2020 - 2025
Market SegmentsPet Type (Dogs, Cats, and Others), Insurance Type (Accidents and Illness, and Accident Only), Distribution (Agency, Bancassurance, Brokers, and Direct Writing)
Geographic AnalysisAPAC, Europe, North America, Middle East & Africa, and Latin America
Countries CoveredChina, Japan, Australia, South Korea, Germany, France, UK, Sweden, Netherlands, US, Canada, South Africa, Brazil, and Mexico
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INDUSTRY INSIGHTS

The global pet insurance market size to cross USD 13 billion by 2025, growing at a CAGR of 20% during the forecast period. The global pet insurance market is catching pace in several developed as well as developing countries. The rise in animal ownership has paved the way for several developments in the industry in recent times. Issued under the property insurance category, pet health insurance is in the introductory growth stage in most countries.

SNIPPETS

  • More than 65% of the US households have animals, with dogs being the most adopted ones. Over 70% of households in West Virginia, Nebraska, Vermont, and Idaho have adopted ones.
  • The accident and illness policies segment is expected to witness an incremental growth of over $8 billion by 2025.
  • With more than four million pet cats, Australia has one of the highest vendors’ presence, which is likely to drive the country as the forerunner in the Asia Pacific industry.
  • Latin American hosts a large pet dog population with Argentina, Mexico, and Brazil constituting 66%, 64%, 58% ownership shares, respectively.

The rapid growth in the number of pet owners in the past decade across the globe, especially in the US, Canada, the UK, and Sweden, where dogs and cats are treated as family members, will influence the industry significantly.

The increasing popularity of pet humanization concept is increasing the demand for pet grooming and care products. Owners, especially millennials, are willing to spend more on their companion animals to ensure a healthy and secure life. The US household spent more than $72 billion in 2018 on North American pet health insurance care, which is 4.5% higher than in 2017.

Pet food and related products earned a revenue of more than $45 billion in Europe in 2018. Hence, the increased interest of European pet owners to spend is likely to opt for animal protection cover. Europe constituted the largest pet insurance industry in 2018, which is expected to grow during the forecast period. 

The impact of online claims has further boosted the market growth. Although the online claim process is not new in several developed countries such as the US and the UK, the concept is a major factor for growth in emerging economies such as India. The introduction of AI technology for enquiring term plans, coverage criteria, and other queries is further increasing the popularity of online policy covers, thereby driving the growth.

PET INSURANCE MARKET SEGMENTATION

The research report includes detailed segmentation by

  • Insurance type
  • Animal type
  • Distribution
  • Geography

INSIGHTS BY INSURANCE TYPE

In terms of coverage, the accident and illness insurance segment is the most significant contributor to the market. This segment covers the reimbursement for accidents as well as illness, including hereditary conditions and behavioral challenges among them. While a majority of insurers offer this policy, most plans, ranging from premium to advanced, depend on the age and breed of the animal.

Since the owners are willing to spend on welfare and prevent expensive veterinary services and bills, the segment is expected to increase its reach during the forecast period. The increased willingness to adopt additional coverages for a lifetime by animal owners in North America and Europe is likely to boost the segment further.

Although the accident and illness plans cover a majority of the pet insurance market share, the increasing premium is a hindrance to the segment growth. Hence, the high cost-effectiveness offered by accident only plans is a significant factor for the acceptance of this segment. Also, several owners in developing economies such as APAC are likely to opt for accident-only plans.

INSIGHTS BY ANIMAL TYPE 

While the industry is in the nascent stage world over, the policies are most commonly adopted for dogs and cats. The popularity of the humanization concept is increasingly affecting the pet adoption of dogs, thereby leading to wellness concerns. With more than 26% of UK adults adopting a dog, it is the largest industry for dog insurance. The European region is expected to the largest growing market during the forecast period.

Cats are the most preferred after dogs; they are dominant in North America and Europe. There has been growing ownership of cats in recent years. Flexibility and low maintenance are the major reasons for the high adoption of cats. This growth will lead to an increase in cat owners that are more likely to opt for protection covers considering the growing veterinary care bills.

INSIGHTS BY DISTRIBUTION  

Insurers are increasing their efforts to reach customers as the conversion ratio of potential customers to loyal ones could be a challenge. Moreover, low awareness of insurance adds to the burden. Effective distribution channels can be a vital enhancer in terms of reach and scope. Agencies are the most preferred medium, as most sales are expected to take place during the forecast period.

Brokers are one of the efficient indirect distribution systems. They specifically target middle class and upper-class animal owners. The share of this segment is growing significantly due to the increased efforts put by brokers. Bancassurance is expected to be the fastest-growing segment during the forecast period due to the low distribution and maintenance costs.

INSIGHTS BY GEOGRAPHY

The global pet insurance market share is concentrated in North America and Europe, with a large number of companies. With the growing awareness and perception of the benefits acquired from the policies, there is a huge possibility of animal owners getting involved with the concept of insurance in the developing nations of APAC, MEA, and Latin America regions.

Europe is the largest market, with over 53% share of the market in 2019. The concept of humanization and the growing preference toward the industry are vital drivers for the market.

Brazil is one of the largest animal-populated countries across the globe, which is filled with abundant dogs of large breeds for guarding purposes too. In the Middle East & Africa, South Africa is the largest market in this region. Middle to high-income consumers are particularly driving the premium pet insurance market in South Africa.

KEY VENDOR ANALYSIS

The pet insurance market is in the growing stage, and it has been penetrating European countries such as Sweden, the UK, and the United States. The market consists of a high number of concentrated players, making it highly fragmented with intense competition. In countries such as the US, there are 4–5 major players, which are comprising more than 75% of the total market. However, there are no major players in the UAE and Saudi, where there are immense opportunities for vendors to expand their business. 

The market is dominated by companies such as Nationwide, Trupanion, ASPCA, and Petplan. Since the globalization is limited, foreign-owned agencies are lower than dominant domestic providers. This can open opportunities for emerging vendors. Mergers and acquisitions can help pet insurance company to expand the penetration level and expansion strategies.

The market research report on pet insurance includes in-depth coverage of the industry with growth rates, market revenues, key industry analysis, revenues & forecasts for the following segments:

Segmentation by Insurance Type

  • Accidents and Illness
  • Accident Only

By Animal Type

  • Dogs
  • Cats
  • Others

By Distribution

  • Agency
  • Bancassurance
  • Brokers
  • Direct Writing

By Geography

  • APAC
    • China
    • Japan
    • Australia
    • South Korea
  • Europe
    • Germany
    • France
    • UK
    • Sweden
    • Netherlands
  • North America
    • US
    • Canada
  • Middle East & Africa
    • South Africa
  • Latin America
    • Brazil
    • Mexico

Frequently Asked Questions

How big is the pet insurance market?

Pet insurance market size to cross USD 13 billion by 2025, growing at a CAGR of over 20% during 2020-2025

Which segment accounted for the largest pet insurance market share?

In terms of coverage, the accident and illness insurance segment is the most significant contributor to the market.

What is the market size of Europe pet insurance market during the forecast period?

Europe is the largest market, with over 53% share of the market in 2019. The concept of humanization and the growing preference toward the industry are vital drivers for the market.

What is the growth of the accident and illness policies segment during the forecast period?

The accident and illness policies segment is expected to witness an incremental growth of over $8 billion by 2025.

Which are the key factors driving the demand of the industry?

The increasing popularity of the pet humanization concept is increasing the demand for grooming and care products. Owners, especially millennials, are willing to spend more on their companion animals to ensure a healthy and secure life.

The global pet insurance market size is expected to grow at a CAGR of over 20% during the period 2019–2025.

The following factors are likely to contribute to the growth of the pet insurance market during the forecast period:

  • Increased Awareness of Pet Insurance
  • High Interest of Millennials in Pets
  • Popularity of Pet Humanization Concept

 Base Year:                  2019

Forecast Year:           2020–2025

The study considers the present scenario of the pet insurance market and dynamics for the period 2019−2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report covers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent companies operating in the market.

Key Vendors

  • Nationwide
    • Business Overview
    • Major Product Offerings
    • Key Strengths
    • Key Strategies
    • Key Opportunities
  • Trupanion
  • Healthy Paws Pet Insurance
  • PetPlan
  • Agria

Other Prominent Vendors

  • Crum & Forster
    • Business Overview
    • Major Product Offerings
  • Hartville Pet Insurance
  • Embrace Pet Insurance
  • Pet Secure
  • RSA
  • Pet Plan (North America)
  • Directline
  • Anicom Holding
  • Ipet Insurance
  • Japan Animal Club
  • Pet Insurance
  • Bow Wow Meow
  • 1300 Insurance
  • Petsy
  • Kogan
  • Prime Pet Insurance
  • Pet Secure
  • Pets Best
  • Bupa
  • Sainsbury
  • Allstate
  • Figo
  • ASPCA
  • Mapfre
  • HKT Financial Services
  • Oriental
  • Dot Sure
  • Pet Sure
  • Medipet
  • One Plan
  • Hollard
  • Pet Assure
  • Dog Sure
  • Paw Paw
  • Geico
  • LV
  • Liberty
  • Santalucia
  • Inov Expat
  • Caser
  • Protectapet
  • New India Assurance
  • Waggel
  • Understand Insurance
  • Pets Plus Us
  • 24 Pet Watch
  • Animal Friends
  • Cat Sure
  • Kido
  • Rogz
  • Solver
  • 365 Pet Insurance
  • Barmenia Direkt
  • Gunn & Partner
  • Helvetia
  • Reaal Dier & Zorg
  • Ohra
  • Hema
  • April
  • Bulle Bleue
  • ECA
  • My French House
  • Picc
  • Meritz
  • Samsung Fire & Marine
  • Lotte Non-Life Insurance
  • Hyundai Marine & Fire Insurance
  • United India
  • HappyTails
  • AIA
  • CIMB
  • 4 Paws
  • Toto
  • If
  • FWD
  • MSIG

 Market Segmentation by Insurance Type

  • Accidents and Illness
  • Accident Only

Market Segmentation by Animal Type

  • Dogs
  • Cats
  • Others

 Market Segmentation by Distribution

  • Agency
  • Bancassurance
  • Brokers
  • Direct Writing

 Market Segmentation Geography

  • APAC
    • China
    • Japan
    • Australia
    • South Korea
  • Europe
    • Germany
    • France
    • UK
    • Sweden
    • Netherlands
  • North America
    • US
    • Canada
  • MEA
    • South Africa
  • Latin America
    • Brazil
    • Mexico

List of Exhibits 

Exhibit 1               Segmentation of Global Pet Insurance Market

Exhibit 2               Market Size Calculation Approach 2019

Exhibit 3               Average Annual Costs for Cats & Dogs ($)

Exhibit 4               Average Annual Expenses Associated with Owing Pets ($)

Exhibit 5               Average Monthly Dog Premiums by Breed ($)

Exhibit 6               Average Monthly Cat Premiums by Breed

Exhibit 7               Popular Pet Breeds Based on Geography

Exhibit 8               Impact of Rise in Number of Pet Owners

Exhibit 9               Household Pet Ownerships across Countries 2018 (in %)

Exhibit 10             Impact of Awareness about Pet Insurance

Exhibit 11             Impact of Increased Spending on Pet & Pet Products

Exhibit 12             Rise in Spending by Pet Owners for Their Pets in US ($ billion)

Exhibit 13             Annual Spending of Pet Owners in Developed Nations ($)

Exhibit 14             Impact of Stigma Towards Costs Associated with Pet Insurance

Exhibit 15             Cost Associated with Different Insurers ($)

Exhibit 16             Impact of Fraudulent Activities Associated with Pet Insurance

Exhibit 17             Impact of Rise in Online Claims

Exhibit 18             Impact of Rise in Millennials Interest for Pets

Exhibit 19             Increasing Pet Ownership by Millennials in US (%)

Exhibit 20             Impact of Rise in Pet Humanization

Exhibit 21             Global Pet Insurance Market Overview 2019

Exhibit 22             Global Pet Insurance Market 2019−2025 ($ million)

Exhibit 23             Pet Ownership Based on Geography 2018 (%)

Exhibit 24             Penetration Rate of Pet Insurance Market as of 2018

Exhibit 25             Five Forces Analysis 2019

Exhibit 26             Incremental Growth by Coverage Type 2019−2025

Exhibit 27             Global Pet Insurance Market by Insurance Type 2019

Exhibit 28             Global Pet Accident & Illness Policies Market 2019−2025 ($ million)

Exhibit 29             Global Pet Accident Only Policies Market 2019−2025 ($ million)

Exhibit 30             Incremental Growth by Animal Type 2019−2025

Exhibit 31             Global Pet Insurance Market by Animal Type Overview 2019

Exhibit 32             Global Dog Insurance Market 2019−2025 ($ million)

Exhibit 33             Monthly Dog Premiums by Major Insurers ($)

Exhibit 34             Average Claims and Premiums for Dog Breeds 2018

Exhibit 35             Global Cat Insurance Market 2019−2025 ($ million)

Exhibit 36             Monthly Cat Premiums by Major Insurers ($)

Exhibit 37             Common Diseases in Cats with Associated Average Annual Treatment Cost

Exhibit 38             Global Other Pet Insurance Market 2019−2025 ($ million)

Exhibit 39             Annual Premiums for Rabbits by Major Insurers

Exhibit 40             World Horse Population by Region (%)

Exhibit 41             Incremental Growth by Distribution Type 2019−2025

Exhibit 42             Global Pet Insurance Market Overview by Distribution Channel 2019−2025

Exhibit 43             Global Market by Distribution Channel 2019−2025 ($ million)

Exhibit 44             Insurance Distribution Criteria by Insurers

Exhibit 45             Global Pet Insurance Market Overview by Distribution (2019−2025)

Exhibit 46             Incremental Growth by Geography 2019−2025

Exhibit 47             Global Pet Insurance Market Overview by Geography 2019

Exhibit 48             Regional Contribution of Pet Insurance Market by Revenue 2019−2025 ($ million)

Exhibit 49             Geographic Overview of Pet Insurance Market 2019

Exhibit 50             Market in Europe 2019−2025 ($ million)

Exhibit 51             Pet Population in European Countries as of 2017 (millions)

Exhibit 52             Incremental Growth in Europe 2019−2025

Exhibit 53             Market in UK 2019−2025 ($ million)

Exhibit 54             Percentage of Pet Owners Considering Pets as a Family Member

Exhibit 55             Preference of Pets in the UK by Regions 2018

Exhibit 56             Market in Sweden 2019−2025 ($ million)

Exhibit 57             Market in France 2019−2025 ($ million)

Exhibit 58             Market in Germany 2019−2025 ($ million)

Exhibit 59             Market in Netherlands 2019−2025 ($ million)

Exhibit 60             Market in North America 2019−2025 ($ million)

Exhibit 61             North American Market 2014−2018 ($ billion)

Exhibit 62             Commonly Claimed Veterinary Conditions in North America

Exhibit 63             Incremental Growth in North America 2019−2025

Exhibit 64             Market in US 2019−2025 ($ million)

Exhibit 65             Market in Canada 2019−2025 ($ million)

Exhibit 66             Market in APAC 2019−2025 ($ million)

Exhibit 67             Incremental Growth in APAC 2019−2025

Exhibit 68             Market in Australia 2019−2025 ($ million)

Exhibit 69             Proportion of Australian Pet Ownership with Pet Insurance (%)

Exhibit 70             Market in China 2019−2025 ($ million)

Exhibit 71             Market in Japan 2019−2025 ($ million)

Exhibit 72             Market in South Korea 2019−2025 ($ million)

Exhibit 73             Market in Latin America 2019−2025 ($ million)

Exhibit 74             Incremental Growth in Latin America 2019−2025

Exhibit 75             Market in Brazil 2019−2025 ($ million)

Exhibit 76             Market in Mexico 2019−2025 ($ million)

Exhibit 77             Market in MEA 2019−2025 ($ million)

Exhibit 78             Incremental Growth in MEA 2019−2025

Exhibit 79             Market in South Africa 2019−2025 ($ million)

Exhibit 80             Market Vendors Ranking/ Preference Analysis based on Geography 2019

               

List of Tables    

Table 1                  Key Caveats

Table 2                  Currency Conversion 2013−2019

Table 3                  Global Pet Insurance Market by Insurance Type 2019−2025 ($ million)

Table 4                  Global Accident & Illness Policy Split 2019−2015 ($ million)

Table 5                  Global Pet Insurance Market for Accident & Illness Policy 2019−2025 ($ million)

Table 6                  Global Accident & Illness Policy Market for Dogs 2019−2025 ($ million)

Table 7                  Global Accident & Illness Policy Market for Cats 2019−2025 ($ million)

Table 8                  Global Accident & Illness Policy Market for Other Pets 2019−2025 ($ million)

Table 9                  Global Accident Only Policy Split 2019−2015 ($ million)

Table 10               Global Pet Accident Only Policy Market 2019−2025 ($ million)

Table 11               Global Accident Only Policy Market for Dogs 2019−2025 ($ million)

Table 12               Global Accident Only Policy Market for Cats 2019−2025 ($ million)

Table 13               Global Accident Only Policy Market for Other Pets 2019−2025 ($ thousands)

Table 14               Global Pet Insurance Market by Segments 2019−2025 ($ million)

Table 15               Global Pet Insurance Market Split for Dogs 2019−2025 ($ million)

Table 16               Global Dog Insurance Market 2019−2025 ($ million)

Table 17               Global Market for Accident & Illness Policy 2019−2025 ($ million)

Table 18               Global Market for Accident-only Policy 2019−2025 ($ million)

Table 19               Global Pet Insurance Market Split for Cats 2019−2025 ($ million)

Table 20               Global Cat Insurance Market 2019−2025 ($ million)

Table 21               Global Market for Accident & Illness Policy 2019−2025 ($ million)

Table 22               Global Market for Accident-only Policy 2019−2025 ($ million)

Table 23               Global Other Pet Insurance Market Split 2019−2025 ($ million)

Table 24               Global Other Pet Insurance Market 2019−2025 ($ million)

Table 25               Global Market for Accident & Illness Policy 2019−2025 ($ million)

Table 26               Global Market for Accident-only Policy 2019−2025 ($ thousands)

Table 27               Global Market by Distribution Channel 2019−2025 ($ million)

Table 28               Global Market by Geography 2019−2025 ($ million)

Table 29               Market in Europe by Policy Type 2019−2025 ($ million)

Table 30               Market in Europe by Animal Type 2019−2025 ($ million)

Table 31               Dog Insurance Market in Europe 2019−2025 ($ million)

Table 32               Cat Insurance Market in Europe 2019−2025 ($ million)

Table 33               Other Market in Europe 2019−2025 ($ million)

Table 34               Market in Europe by Distribution Channel 2019−2025 ($ million)

Table 35               Market in North America by Policy Type 2019−2025 ($ million)

Table 36               Market in North America by Animal Type 2019−2025 ($ million)

Table 37               Dog Insurance Market in North America 2019−2025 ($ million)

Table 38               Cat Insurance Market in North America 2019−2025 ($ million)

Table 39               Other Market in North America 2019−2025 ($ million)

Table 40               Market in North America by Distribution Channel 2019−2025 ($ million)

Table 41               Market in APAC by Policy Type 2019−2025 ($ million)

Table 42               Market in APAC by Animal Type 2019−2025 ($ million)

Table 43               Dog Insurance Market in APAC 2019−2025 ($ million)

Table 44               Cat Insurance Market in APAC 2019−2025 ($ million)

Table 45               Other Market in APAC 2019−2025 ($ million)

Table 46               Market in APAC by Distribution Channel 2019−2025 ($ million)

Table 47               Major Pet Insurers with Offerings in South Korea

Table 48               Market in Latin America by Policy Type 2019−2025 ($ million)

Table 49               Market in Latin America by Animal Type 2019−2025 ($ million)

Table 50               Dog Insurance Market in Latin America 2019−2025 ($ million)

Table 51               Cat Insurance Market in Latin America 2019−2025 ($ million)

Table 52               Other Market in Latin America 2019−2025 ($ Thousands)

Table 53               Market in Latin America by Distribution Channel 2019−2025 ($ million)

Table 54               Market in MEA by Policy Type 2019−2025 ($ million)

Table 55               Market in MEA by Animal Type 2019−2025 ($ million)

Table 56               Dog Insurance Market in MEA 2019−2025 ($ million)

Table 57               Cat Insurance Market in MEA 2019−2025 ($ million)

Table 58               Other Market in MEA 2019−2025 ($ Thousands)

Table 59               Market in MEA by Distribution Channel 2019−2025 ($ million)

Table 60               Competitive Overview of Pet Insurance Industry across Geographies

Table 61               Nationwide: Key Product Offerings

Table 62               Trupanion: Product Offerings

Table 63               Healthy Paws: Key Product Offerings

Table 64               PetPlan: Key Product Offerings

Table 65               Agria: Key Product Offerings

Table 66               Crum & Forster: Key Product Offerings

Table 67               Hartville: Key Product Offerings

Table 68               Embrace: Key Product Offerings

Table 69               Pet Secure: Key Product Offerings

Table 70               RSA: Key Product Offerings

Table 71               Pet Plan: Key Product Offerings

Table 72               Directline: Key Product Offerings

Table 73               Anicom: Key Product Offerings

Table 74               Ipet: Key Product Offerings

Table 75               Japan Animal Club: Key Product Offerings

Table 76               Pet Insurance: Key Product Offerings

Table 77               Bow Wow Meow: Key Product Offerings

Table 78               1300: Key Product Offerings

Table 79               Petsy: Key Product Offerings

Table 80               Kogan: Key Product Offerings

Table 81               Prime Pet insurance: Key Product Offerings

Table 82               Pet Secure: Key Product Offerings

Table 83               Pets Best: Key Product Offerings

Table 84               Bupa: Key Product Offerings

Table 85               Sainsbury: Key Product Offerings

Table 86               Allstate: Key Product Offerings

Table 87               Figo: Key Product Offerings

Table 88               ASPCA: Key Product Offerings

Table 89               Mapfre: Key Product Offerings

Table 90               HKT Financial Services: Key Product Offerings

Table 91               Oriental: Key Product Offerings

Table 92               Dot Sure: Key Product Offerings

Table 93               Pet Sure: Key Product Offerings

Table 94               Medipet: Key Product Offerings

Table 95               One Plan: Key Product Offerings

Table 96               Hollard: Key Product Offerings

Table 97               Pet Assure: Key Product Offerings

Table 98               Dog Sure: Key Product Offerings

Table 99               Paw Paw: Key Product Offerings

Table 100             Geico: Key Product Offerings

Table 101             LV: Key Product Offerings

Table 102             Liberty: Key Product Offerings

Table 103             Santalucia: Key Product Offerings

Table 104             Inov Expat: Key Product Offerings

Table 105             Caser: Key Product Offerings

Table 106             Protectapet: Key Product Offerings

Table 107             New India Assurance: Key Product Offerings

Table 108             Waggel: Key Product Offerings

Table 109             Understand: Key Product Offerings

Table 110             Pets Plus Us: Key Product Offerings

Table 111             24 Pet Watch: Key Product Offerings

Table 112             Animal Friends: Key Product Offerings

Table 113             Cat Sure: Key Product Offerings

Table 114             Kido: Key Product Offerings

Table 115             Rogz: Key Product Offerings

Table 116             Solver: Key Product Offerings

Table 117             365: Key Product Offerings

Table 118             Barmenia Direkt: Key Product Offerings

Table 119             Gunn & Partner: Key Product Offerings

Table 120             Helvetia: Key Product Offerings

Table 121             Reaal Dier & Zorg: Key Product Offerings

Table 122             Ohra: Key Product Offerings

Table 123             Hema: Key Product Offerings

Table 124             April: Key Product Offerings

Table 125             Bulle Bleue: Key Product Offerings

Table 126             ECA: Key Product Offerings

Table 127             My French House: Key Product Offerings

Table 128             Picc: Key Product Offerings

Table 129             Meritz: Key Product Offerings

Table 130             Samsung Fire & Marine: Key Product Offerings

Table 131             Lotte: Key Product Offerings

Table 132             Hyundai: Key Product Offerings

Table 133             United India: Key Product Offerings

Table 134             HappyTails: Key Product Offerings

Table 135             AIA: Key Product Offerings

Table 136             CIMB: Key Product Offerings

Table 137             4 Paws: Key Product Offerings

Table 138             Toto: Key Product Offerings

Table 139             If: Key Product Offerings

Table 140             FWD: Key Product Offerings

Table 141             MSIG: Key Product Offerings

Table 142             Global Market by Insurance Type 2019−2015 ($ million)

Table 143             Global Pet Accident & Illness Market 2019−2025 ($ million)

Table 144             Global Accident & Illness Policy Split 2019−2015 ($ million)

Table 145             Global Dog Accident & Illness Market 2019−2025 ($ million)

Table 146             Global Cat Accident & Illness Market 2019−2025 ($ million)

Table 147             Global Other Pets Accident & Illness Market 2019−2025 ($ million)

Table 148             Global Accident Only Policy Split 2019−2015 ($ million)

Table 149             Global Pet Accident Only Market 2019−2025 ($ million)

Table 150             Global Dog Accident Only Market 2019−2025 ($ million)

Table 151             Global Cat Accident Only Market 2019−2025 ($ million)

Table 152             Global Other Pets Accident Only Market 2019−2025 ($ million)

Table 153             Global Market by Application Type 2019−2015 ($ million)

Table 154             Global Dog Insurance Market Split 2019−2025 ($ million)

Table 155             Global Dog Insurance Market 2019−2025 ($ million)

Table 156             Global Dog Accident & Illness Market 2019−2025 ($ million)

Table 157             Global Dog Accident Only Market 2019−2025 ($ million)

Table 158             Global Cats Insurance Market Split 2019−2025 ($ million)

Table 159             Global Cat Insurance Market 2019−2025 ($ million)

Table 160             Global Cat Accident & Illness Market 2019−2025 ($ million)

Table 161             Global Cat Accident Only Market 2019−2025 ($ million)

Table 162             Global Other Pets Insurance Market Split 2019−2025 ($ million)

Table 163             Global Other Pets Insurance Market 2019−2025 ($ million)

Table 164             Global Other Pets Accident & Illness Market 2019−2025 ($ million)

Table 165             Global Other Pets Accident Only Market 2019−2025 ($ thousand)

Table 166             Global Market by Distribution Channel 2019−2025 ($ million)

Table 167             Global Agency Market 2019−2025 ($ million)

Table 168             Global Bancassurance Market 2019−2025 ($ million)

Table 169             Global Brokers Market 2019−2025 ($ million)

Table 170             Global Direct Writing Market 2019−2025 ($ million)

Table 171             Global Pet Insurance Market by Geography 2019−2025 ($ million)

Table 172             Market in Europe by Policy Type 2019−2025 ($ million)

Table 173             Market in Europe by Animal Type 2019−2025 ($ million)

Table 174             Dog Insurance Market in Europe 2019−2025 ($ million)

Table 175             Cat Insurance Market in Europe 2019−2025 ($ million)

Table 176             Other Pets Insurance Market in Europe 2019−2025 ($ million)

Table 177             Market in Europe by Distribution Channel 2019−2025 ($ million)

Table 178             Market in North America by Policy Type 2019−2025 ($ million)

Table 179             Market in North America by Animal Type 2019−2025 ($ million)

Table 180             Dog Insurance Market in North America 2019−2025 ($ million)

Table 181             Cat Insurance Market in North America 2019−2025 ($ million)

Table 182             Other Market in North America 2019−2025 ($ million)

Table 183             Market in North America by Distribution Channel 2019−2025 ($ million)

Table 184             Market in APAC by Policy Type 2019−2025 ($ million)

Table 185             Market in APAC by Animal Type 2019−2025 ($ million)

Table 186             Dog Insurance Market in APAC 2019−2025 ($ million)

Table 187             Cat Insurance Market in APAC 2019−2025 ($ million)

Table 188             Other Market in APAC 2019−2025 ($ million)

Table 189             Market in APAC by Distribution Channel 2019−2025 ($ million)

Table 190             Market in Latin America by Policy Type 2019−2025 ($ million)

Table 191             Market in Latin America by Animal Type 2019−2025 ($ million)

Table 192             Dog Insurance Market in Latin America 2019−2025 ($ million)

Table 193             Cat Insurance Market in Latin America 2019−2025 ($ million)

Table 194             Other Market in Latin America 2019−2025 ($ thousands)

Table 195             Market in Latin America by Distribution Channel 2019−2025 ($ million)

Table 196             Market in MEA by Policy Type 2019−2025 ($ million)

Table 197             Market in MEA by Animal Type 2019−2025 ($ million)

Table 198             Dog Insurance Market in MEA 2019−2025 ($ million)

Table 199             Cat Insurance Market in MEA 2019−2025 ($ million)

Table 200             Other Market in MEA 2019−2025 ($ thousands)

Table 201             Market in MEA by Distribution Channel 2019−2025 ($ million)

1              Research Methodology

2              Research Objectives

3              Research Process

 

4              Scope & Coverage

4.1          Market Definition

4.1.1      Inclusions

4.1.2      Exclusions

4.2          Base Year

4.3          Scope of the study

4.4          Market Segments

4.4.1      Market Segmentation by Insurance type

4.4.2      Market Segmentation by Applications

4.4.3      Market Segmentation by Distribution

4.4.4      Market Segmentation by Geography

 

5              Report Assumptions & Caveats

5.1          Key Caveats

5.2          Currency Conversion

5.3          Market Derivation

 

6              Market at a Glance

7              Introduction

7.1          Overview

 

8              Market Dynamics

8.1          Market Growth Enablers

8.1.1      Rise in Number of Pet Owners

8.1.2      Awareness about Pet Insurance

8.1.3      Increased Spending on Pet & Pet Products

8.2          Market Growth Restraints

8.2.1      Stigma Towards Costs Associated with Pet Insurance

8.2.2      Fraudulent Activities Associated with Pet Insurance

8.3          Market Opportunities & Trends

8.3.1      Rise in Online Claims

8.3.2      Rise in Millennials Interest for Pets

8.3.3      Rise in Pet Humanization

 

9              Global Pet Insurance Market

9.1          Market Overview

9.2          Market Size & Forecast

9.3          Five Forces Analysis

9.3.1      Threat of New Entrants

9.3.2      Bargaining Power of Suppliers

9.3.3      Bargaining Power of Buyers

9.3.4      Threat of Substitutes

9.3.5      Competitive Rivalry

 

10           Pet Insurance Market by Insurance Type

10.1        Market snapshot & Growth Engine

10.2        Market Overview

10.3        Accident & Illness

10.3.1    Market Size & Forecast

10.3.2    By Geography: Market Size & Forecast

10.3.3    By Dogs: Market Size & Forecast

10.3.4    By Cats: Market Size & Forecast

10.3.5    By Other Pets: Market Size & Forecast

10.4        Accident only

10.4.1    Market Size & Forecast

10.4.2    By Geography: Market Size & Forecast

10.4.3    By Dogs: Market Size & Forecast

10.4.4    By Cats: Market Size & Forecast

10.4.5    By Other Pets: Market Size & Forecast

 

11           Pet Insurance Market by Animal Type

11.1        Market Snapshot & Growth Engine

11.2        Market Overview

11.3        Dogs

11.3.1    Market Size & Forecast

11.3.2    By Geography: Market Size & Forecast

11.3.3    Accident & Illness Policy: Market Size & Forecast

11.3.4    Accident Only:  Market Size & Forecast

11.4        Cats

11.4.1    Market Size & Forecast

11.4.2    By Geography: Market Size & Forecast

11.4.3    Accident & Illness Policy: Market Size & Forecast

11.4.4    Accident-only Policy: Market size & Forecast

11.5        Others

11.5.1    Market Size & Forecast

11.5.2    By Geography: Market Size & Forecast

11.5.3    Accident & Illness Policy: Market size & Forecast

11.5.4    Accident Only Policy: Market size & Forecast

 

12           Pet Insurance Market by Distribution Type

12.1        Market Snapshot & Growth Engine

12.2        Market Overview

12.2.1    Agency

12.2.2    Brokers

12.2.3    Bancassurance

12.2.4    Direct Writing

12.3        Future of Pet Insurance Distribution Channel

 

13           Pet Insurance Market by Geography

13.1        Market Snapshot & Growth Engine

13.2        Overview

 

14           Europe

14.1        Market Overview

14.2        By Policy Type

14.2.1    Market Size & Forecast

14.3        By Animal Type

14.3.1    Market Size & Forecast

14.4        By Distribution Channel

14.4.1    Market Size & Forecast

14.5        Key Countries

14.5.1    UK: Pet Insurance Market Size & Forecast

14.5.2    Sweden: Market Size & Forecast

14.5.3    France: Pet Insurance Market Size & Forecast

14.5.4    Germany: Market Size & Forecast

14.5.5    Netherlands: Pet Insurance Market Size & Forecast

 

15           North America

15.1        Market Overview

15.2        By Policy Type

15.2.1    Market Size & Forecast

15.3        By Animal Type

15.3.1    Market Size & Forecast

15.4        By Distribution Channel

15.4.1    Market Size & Forecast

15.5        Key Countries

15.5.1    US: Pet Insurance Market Size & Forecast

15.5.2    Canada: Market Size & Forecast

 

16           APAC

16.1        Market Overview

16.2        By Policy Type

16.2.1    Market Size & Forecast

16.3        By Animal Type

16.3.1    Market Size & Forecast

16.4        By Distribution Channel

16.4.1    Market Size & Forecast

16.5        Key Countries

16.5.1    Australia: Pet Insurance Market Size & Forecast

16.5.2    China: Market Size & Forecast

16.5.3    Japan: Pet Insurance Market Size & Forecast

16.5.4    South Korea: Market Size & Forecast

 

17           Latin America

17.1        Market Overview

17.2        By Policy Type

17.2.1    Market Size & Forecast

17.3        By Animal Type

17.3.1    Market Size & Forecast

17.4        By Distribution Channel

17.4.1    Market Size & Forecast

17.5        Key Countries

17.5.1    Brazil: Pet Insurance Market Size & Forecast

17.5.2    Mexico: Market Size & Forecast

 

18           Middle East & Africa

18.1        Market Overview

18.2        By Policy Type

18.2.1    Market Size & Forecast

18.3        By Animal Type

18.3.1    Market Size & Forecast

18.4        By Distribution Channel

18.4.1    Market Size & Forecast

18.5        Key Countries

18.5.1    South Africa: Pet Insurance Market Size & Forecast

 

19           Competitive Landscape

19.1        Competition Overview

 

20           Key Company Profiles

20.1        Nationwide

20.1.1    Business Overview

20.1.2    Product Offerings

20.1.3    Key Strengths

20.1.4    Key Strategies

20.1.5    Key Opportunities

20.2        Trupanion

20.2.1    Business Overview

20.2.2    Major Product Offerings

20.2.3    Key Strengths

20.2.4    Key Strategies

20.2.5    Key Opportunities

20.3        Healthy Paws Pet Insurance

20.3.1    Business Overview

20.3.2    Product Offerings

20.3.3    Key Strengths

20.3.4    Key Strategies

20.3.5    Key Opportunities

20.4        PetPlan

20.4.1    Business Overview

20.4.2    Product Offerings

20.4.3    Key Strengths

20.4.4    Key Strategies

20.4.5    Key Opportunities

20.5        Agria

20.5.1    Business Overview

20.5.2    Product Offerings

20.5.3    Key Strengths

20.5.4    Key Strategies

20.5.5    Key Opportunities

 

21           Other Prominent Vendors

21.1        Crum & Forster

21.1.1    Business Overview

21.1.2    Product Offerings

21.2        Hartville Pet Insurance

21.2.1    Business Overview

21.2.2    Product Offerings

21.3        embrace pet insurance

21.3.1    Business Overview

21.3.2    Product Offerings

21.4        Pet Secure

21.4.1    Business Overview

21.4.2    Product Offerings

21.5        RSA

21.5.1    Business Overview

21.5.2    Product Offerings

21.6        Pet Plan (North America)

21.6.1    Business Overview

21.6.2    Product Offerings

21.7        Directline

21.7.1    Business Overview

21.7.2    Product Offerings

21.8        Anicom Holding

21.8.1    Business Overview

21.8.2    Product Offerings

21.9        Ipet Insurance

21.9.1    Business Overview

21.9.2    Product Offerings

21.10     Japan Animal Club

21.10.1  Business Overview

21.10.2  Product Offerings

21.11     Pet Insurance

21.11.1  Business Overview

21.11.2  Product Offerings

21.12     Bow Wow Meow

21.12.1  Business Overview

21.12.2  Product Offerings

21.13     1300

21.13.1  Business Overview

21.13.2  Product Offerings

21.14     Petsy

21.14.1  Business Overview

21.14.2  Product Offerings

21.15     Kogan

21.15.1  Business Overview

21.15.2  Product Offerings

21.16     Prime Pet Insurance

21.16.1  Business Overview

21.16.2  Product Offerings

21.17     Pet Secure

21.17.1  Business Overview

21.17.2  Product Offerings

21.18     Pets Best

21.18.1  Business Overview

21.18.2  Product Offerings

21.19     Bupa

21.19.1  Business Overview

21.19.2  Product Offerings

21.20     Sainsbury

21.20.1  Business Overview

21.20.2  Product Offerings

21.21     Allstate

21.21.1  Business Overview

21.21.2  Product Offerings

21.22     FIGO

21.22.1  Business Overview

21.22.2  Product Offerings

21.23     ASPCA

21.23.1  Business Overview

21.23.2  Product Offerings

21.24     Mapfre

21.24.1  Business Overview

21.24.2  Product Offerings

21.25     HKT Financial Services

21.25.1  Business Overview

21.25.2  Product Offerings

21.26     Oriental

21.26.1  Business Overview

21.26.2  Product Offerings

21.27     Dotsure

21.27.1  Business Overview

21.27.2  Product Offerings

21.28     Pet Sure

21.28.1  Business Overview

21.28.2  Product Offerings

21.29     Medipet

21.29.1  Business Overview

21.29.2  Product Offerings

21.30     One Plan

21.30.1  Business Overview

21.30.2  Product Offerings

21.31     Hollard

21.31.1  Business Overview

21.31.2  Product Offerings

21.32     Pet Assure

21.32.1  Business Overview

21.32.2  Product Offerings

21.33     Dog Sure

21.33.1  Business Overview

21.33.2  Product Offerings

21.34     Paw Paw

21.34.1  Business Overview

21.34.2  Product Offerings

21.35     Geico

21.35.1  Business Overview

21.35.2  Product Offerings

21.36     LV

21.36.1  Business Overview

21.36.2  Product Offerings

21.37     Liberty

21.37.1  Business Overview

21.37.2  Product Offerings

21.38     Santalucia

21.38.1  Business Overview

21.38.2  Product Offerings

21.39     Inov Expat

21.39.1  Business Overview

21.39.2  Product Offerings

21.40     Caser

21.40.1  Business Overview

21.40.2  Product Offerings

21.41     Protectapet

21.41.1  Business Overview

21.41.2  Product Offerings

21.42     New India Assurance Co. Ltd

21.42.1  Business Overview

21.42.2  Product Offerings

21.43     Waggel

21.43.1  Business Overview

21.43.2  Product Offerings

21.44     Understand Insurance

21.44.1  Business Overview

21.44.2  Product Offerings

21.45     Pets Plus Us

21.45.1  Business Overview

21.45.2  Product Offerings

21.46     24 Pet Watch

21.46.1  Business Overview

21.46.2  Product Offerings

21.47     Animal Friends

21.47.1  Business Overview

21.47.2  Product Offerings

21.48     Cat Sure

21.48.1  Business Overview

21.48.2  Product Offerings

21.49     Kido

21.49.1  Business Overview

21.49.2  Product Offerings

21.50     Rogz

21.50.1  Business Overview

21.50.2  Product Offerings

21.51     Solver

21.51.1  Business Overview

21.51.2  Product Offerings

21.52     365

21.52.1  Business Overview

21.52.2  Product Offerings

21.53     Barmenia Direkt

21.53.1  Business Overview

21.53.2  Product Offerings

21.54     Gunn & Partner

21.54.1  Business Overview

21.54.2  Product Offerings

21.55     Helvetia

21.55.1  Business Overview

21.55.2  Product Offerings

21.56     Reaal Dier & Zorg

21.56.1  Business Overview

21.56.2  Product Offerings

21.57     Ohra

21.57.1  Business Overview

21.57.2  Product Offerings

21.58     Hema

21.58.1  Business Overview

21.58.2  Product Offerings

21.59     April

21.59.1  Business Overview

21.59.2  Product Offerings

21.60     Bulle Bleue

21.60.1  Business Overview

21.60.2  Product Offerings

21.61     ECA

21.61.1  Business Overview

21.61.2  Product Offerings

21.62     My French House

21.62.1  Business Overview

21.62.2  Product Offerings

21.63     Picc

21.63.1  Business Overview

21.63.2  Product Offerings

21.64     Meritz

21.64.1  Business Overview

21.64.2  Product Offerings

21.65     Samsung Fire & Marine Insurance

21.65.1  Business Overview

21.65.2  Product Offerings

21.66     Lotte Non-Life Insurance

21.66.1  Business Overview

21.66.2  Product Offerings

21.67     Hyundai Marine & Fire Insurance

21.67.1  Business Overview

21.67.2  Product Offerings

21.68     United India

21.68.1  Business Overview

21.68.2  Product Offerings

21.69     Happytails

21.69.1  Business Overview

21.69.2  Product Offerings

21.70     AIA

21.70.1  Business Overview

21.70.2  Product Offerings

21.71     CIMB

21.71.1  Business Overview

21.71.2  Product Offerings

21.72     4 PAWS

21.72.1  Business Overview

21.72.2  Product Offerings

21.73     Toto

21.73.1  Business Overview

21.73.2  Product Offerings

21.74     If

21.74.1  Business Overview

21.74.2  Product Offerings

21.75     FWD

21.75.1  Business Overview

21.75.2  Product Offerings

21.76     MSIG

21.76.1  Business Overview

21.76.2  Product Offerings

 

22           Report Summary

22.1        Key Takeaways

22.2        Strategic Recommendations

 

23           Quantitative Summary

23.1        By Insurance Type

23.1.1    Market Size & Forecast

23.2        By Application Type

23.2.1    Market Size & Forecast

23.3        By Distribution Type

23.3.1    Market Size & Forecast

23.4        By Geography

23.4.1    Market Size & Forecast

23.5        Europe

23.5.1    Market Size & Forecast

23.6        North America

23.6.1    Market Size & Forecast

23.7        APAC

23.7.1    Market Size & Forecast

23.8        Latin America

23.8.1    Market Size & Forecast

23.9        Middle East & Africa

23.9.1    Market Size & Forecast

 

24           Appendix

24.1        Abbreviations

               

 

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Frequently Asked Questions

How big is the pet insurance market?

Pet insurance market size to cross USD 13 billion by 2025, growing at a CAGR of over 20% during 2020-2025

Which segment accounted for the largest pet insurance market share?

In terms of coverage, the accident and illness insurance segment is the most significant contributor to the market.

What is the market size of Europe pet insurance market during the forecast period?

Europe is the largest market, with over 53% share of the market in 2019. The concept of humanization and the growing preference toward the industry are vital drivers for the market.

What is the growth of the accident and illness policies segment during the forecast period?

The accident and illness policies segment is expected to witness an incremental growth of over $8 billion by 2025.

Which are the key factors driving the demand of the industry?

The increasing popularity of the pet humanization concept is increasing the demand for grooming and care products. Owners, especially millennials, are willing to spend more on their companion animals to ensure a healthy and secure life.