Various pieces of recent research point towards highly segmented approach on future pet insurance marketing, with age, postcode, and gender all important factors, but by no means providing the full picture of an individual’s attitudes and wants.
(PRWEB) February 05, 2018
YouGov research commissioned by Aquarium Software, into pet insurance in Britain, has revealed significant regional discrepancies when it comes to purchasing pet policies. This has prompted the insurance technologist to query whether a more regionalised approach to pet insurance marketing in Britain is necessary; this could directly address the numbers of people who have never had insurance, or those who only seem to buy cover for their first pet and not for subsequent animals, according to Aquarium.
In a twist to the usual north south divide narrative, London figures are a dog’s dinner, with just 29 percent of pet owners in London having pet insurance, and 49 percent of capital dwellers never having had pet insurance – making London the ‘worst pet parent’ region in Britain. In contrast, nearly half of respondents in the East of England (48%) currently have pet insurance, while the 30 percent who have never had pet insurance there, is the lowest of any region in Britain - making East of England a veritable Eden for poorly pets.
“News that the East of England is double digits above the national average of 38 percent who have pet insurance and 42 percent who never had insurance, was quite a surprise,” said Aquarium Director, Mark Colonnese. “Money is a factor when deciding whether or not to have pet insurance, but a look at the regional GDHI (Gross Disposable Household Income) figures from the Office for National Statistics, shows London has the highest GDHI per head at £25,293 against a national average of £19,106. Undoubtedly, the East of England has some affluent areas of its own, but it would seem from this that money is not the full story and softer drivers also appear to be at play.”
Mark believes a more nuanced, regional approach to marketing pet insurance is required, where technology can be a vital tool in helping identify the areas and individuals to target. “Various pieces of recent research point towards highly segmented approach on future pet insurance marketing, with age, postcode, and gender all important factors, but by no means providing the full picture of an individual’s attitudes and wants,” concluded Colonnese.
Aquarium Software’s specialist pet insurance solution spanning: rating, policy admin, billing, claims and mobile apps has been implemented by a number of insurers around the globe. For further information contact Aquarium Software on +44 (0)161 927 5620 or visit http://www.aquarium-software.com