Summary

This report explores pet insurance purchasing behavior and how consumer preferences are changing over time. It discovers the most influential factors for customers purchasing a policy and also reveals the most popular providers in the market. New trends and innovations are highlighted, as well as the key factors that will influence the market over the next few years.

The direct channel was the most popular among both cat and dog insurance policyholders in 2020, with 49.3% and 53.1% of individuals purchasing through this channel respectively. Consumers have shifted towards online purchases through PCs and away from other methods like phone and face to face.

Scope

- Direct to insurer remains the most popular channel of distribution for pet insurance, with particularly strong growth in the dog insurance market.
- Online via a PC remains the preferred method of arranging pet cover.
- Switching levels remain low among pet insurance customers, but a considerable number of new entrants continue to enter the market.

Reasons to Buy

- Discover which providers lead the way in the pet insurance space, and how providers are revolutionizing the market through new innovations.
- Understand consumer purchasing decisions and how these will influence the market over the next few years.
- Improve customer engagement by recognizing what is most important to them and how to adapt your products and services to meet their needs.
- Adapt your distribution strategy to ensure it still meets customer purchasing behaviors.