Finaccord's report titled Pet Metrics: Consumer Approaches to Pet Insurance in the USA offers detailed and up-to-date insights into the behaviour of pet owners in the context of pet insurance in the US. Based on a primary survey of over 2,000 consumers in the US carried out in the third quarter of 2017, and with results compared against those of a previous survey undertaken in 2014 in order to illustrate trends over time, the research provides valuable data describing the extent to which owners of cats, dogs and other animals take out insurance for their pets.
In addition to calculating the percentage of US pet owners that buys pet insurance, the investigation also analyses the types of policy that they buy (i.e. stand-alone policies or cover packaged within homeowners' insurance or personal liability insurance), whether they hold cover for veterinary expenses or only for less likely / costly risks such as pet liability, which distribution channel and interface they use to take out stand-alone pet insurance, whether they buy cover within a week or a month of acquiring their pet or at a later stage, and whether they acquire pet insurance as a result of any particular prompt (e.g. e-mail or mobile advertising).
Finally, the report measures the degree to which insured pet owners have used their cover to file a claim in the 12 months leading up to the survey and, if so, the reason for making the claim and whether the claim was accepted or not.
Indeed, key features of this report include:
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Finaccord is a market research, publishing and consulting company specialising in insurance and other financial services. Finaccord is part of Aon Global Operations, Singapore Branch.