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UK Pet Insurance 2005
Datamonitor, July 2005, Pages: 76
Introduction
UK Pet Insurance 2005 reviews the recent performance of the market and considers the key drivers of its development in the future. Exclusive data covering market size, distribution and forecasts as well as in-depth analysis provide the reader with an unrivalled insight into the opportunities and unique challenges posed by this niche market.
Scope
Broad coverage of the UK pet insurance market. Exclusive market size and market share data, consumer trends, competitor analysis and forecasts to 2009
Content from interviews with industry executives, extensive secondary research and opinion-led analysis from our team of industry experts
A consolidated source of valuable data, including FSA returns, the PFMA and a wide range of other key resources
Highlights
A breakdown of the most expensive claims on a cumulative basis since 2000 reveals that most require long-term treatment, highlighting the correlation between cost and duration of treatment for both cats and dogs. For felines, total claims costs are highest for RTAs. Other expensive sources of claims for cats include diabetes and kidney failure.
Insurers must look to balance ageing books of business by concentrating on the acquisition of new business. By attracting better risks and selling to owners of younger pets, insurers can mitigate rapidly rising claims inflation to a greater degree.
Although their market share has been eroded by new entrants, traditional players have a good opportunity to reach out to the more discerning pet insurance consumer. By continually promoting the advantages that lifelong uncapped cover has over 12- month policies, these traditional providers can differentiate themselves from retailers.
Reasons to Purchase
Gain a comprehensive understanding of the pet insurance market and the key variables that are influencing its development
Discover the market sub-sectors where key opportunities for future success lie
Obtain unrivalled insight into the methods available to insurers to combat rising claims inflation
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