The US is much more used to the concept and benefits of PMI, yet while 71 percent have personal PMI cover in the States and we know owners in the US love their pets, too, Americans do not seem to put the same value on insuring their pooches as the British.
(PRWEB) April 21, 2018
Following news of a dog walker risking her life by jumping into a frozen lake to rescue a stranger’s dog in Canada, YouGov research conducted on behalf of Aquarium Software shows that if our pet and a stranger fell into a river at the same time, just forty percent of Americans would rescue the stranger first, and only 37 percent of their British compatriots would do the same. While the apparent consistency of these figures in US and Britain might make for alarming reading, the biggest gulf between the US and Britain, the findings also revealed that 42 percent of British pet owners have never purchased pet insurance, yet a staggering 74 percent of American owners admit to never having had pet insurance.
Despite rising veterinary bills both sides of the pond, there remains a hard core who have never insured their pets. Given Aquarium YouGov research also showed 86 percent of Brits do not have PMI (Private Medical Insurance), Aquarium argues the insurance industry must tailor its message to address the cultural and emotional responses of people in each territory and even sub-region, to achieve the desired results. In the UK, vets’ fees are rising at six times the rate of inflation and with the average claim being £700, insurance is an obvious safety net for animal lovers.
“Our figures don’t reveal if people would rescue a stranger’s pet before a stranger (!), but the love affair we have with animals seems pretty consistent, both sides of the Pond,” said Aquarium Software Director, Mark Colonnese. “The massive 32 percent difference on pet insurance take up revealed in our research is however contrary to what might have been expected. The US is much more used to the concept and benefits of PMI, yet while 71 percent have personal PMI cover in the States and we know owners in the US love their pets, too, Americans do not seem to put the same value on insuring their pooches as the British. This represents both a huge challenge and opportunity for pet insurance marketeers,” concluded Colonnese.
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