Thanks to technology and a fresh approach the sector is less of a dog’s dinner, but as only one in seven cat owners have insurance, complacency at this point for all concerned would be catastrophic.
(PRWEB) May 01, 2017
The half million increase revealed by the Pet Food Manufacturers’ Association (PFMA) shows men love their feline friends. If the rate of growth continues, cats will be within a whisker of overtaking dogs in the nation’s pet popularity stakes. With 193,000 cat claims worth £105 million being handled in 2016. Numbers insured went up six per cent for dogs; but does a 12 per cent rise for cats reflect the growth in cat ownership, or is the message on insurance finally getting through?
“YouGov research commissioned by Aquarium software revealed 47 per cent think the cost of insurance is about right and we hope the rise in cat ownership and insurance take up is a sign insurance is finally being recognised by pet parents,” said Mark Colonnese, Sales and Marketing Director at Aquarium Software. “Thanks to technology and a fresh approach the sector is less of a dog’s dinner, but as only one in seven cat owners have insurance, complacency at this point for all concerned would be catastrophic.”
Colonnese points out cats carry a lower insurance risk than dogs, being classed as free spirits; which would seem to give the insurance refuseniks a boost. In reality, the free spirit tag is a double edged sword, as motorists are obliged to stop for hitting a dog, but not for a collision with a cat.
“Modern treatments are expensive for cats and dogs alike,” explained Colonnese. “Even something like a fracture can cost between £4,000 - £6,000 yet over half of the population don’t have their pets insured against even the most basic of illnesses. The cost of an average claim is over £700, which is nearly three times the average premium, making insurance a better option than ever. Technology is key to keeping policy premiums affordable for pet parents and profitable for vendors but people do need the cover,” 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