Employees want pet insurance from the benefits offered by their employers

Pet insurance - woman on computer with dog

Medical coverage for animals has become super trendy, particularly since the pandemic. Employers seeking to be competitive when seeking the best employees to join their teams are increasingly turning to pet insurance as an additional part of worker benefits, due to the massive draw it has developed. Employees want more options from their benefits, and caring for their furry family members has weight. For even greater value to many employees, pet insurance coverage extends not only to cats and dogs, but also other types of animals, such as birds (even…

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Pet insurance market will be worth nearly $38.8 billion by 2030

Pet Insurance - Billions by 2030

The market had experienced a growth rate of 14 percent per year between 2016 through 2021. The global pet insurance market is expected to reach a rate of growth that will bring its value to $38.8 billion by the close of 2030, according to a recent Future Market Insights (FMI) study. The market will demonstrate a consistent rise at a compound annual growth rate of 11 percent. According to the report, the compound annual growth rate (CAGR) of 11 percent from 2022 through 2030. The report also indicated that the…

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Pet insurance popularity takes off, covers over 2 million in North America

Pet Insurance Popularity - Dog in Cone

The industry has now reached the $1 billion point, according to a new NAPHIA report. As pet insurance popularity grows as it never has before, it has now become a $1 billion industry, says a North American Pet Insurance Association (NAPHIA) report. The report states that the average year over year growth rate has been nearly 17 percent, says the 2018 NAPHIA State of the Industry Report (SOI). This year also represented the first time the industry surpassed the $1 billion threshold. Pet insurance popularity drove the industry’s gross written…

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Companies use pet insurance benefits to draw talent

kitten veterinarian pet insurance benefits

Now that cats and dogs are just furry family members, affordable animal health care has become a priority. A recent report in the New York Times showed that pet insurance benefits are becoming a staple offering for drawing skilled employees and encouraging them to stay. While pet insurance is already a growing trend in the United States, employer-sponsored benefits are also taking off. In fact, employer sponsored pet insurance benefits is among the most rapidly growing veterinary medicine trends. These include plans that cover only cats and dogs as well…

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Pet insurance is extremely unpopular in India

pet insurance

According to recent figures, there are very few animal owners in the country who have purchased coverage. Pet insurance is a very unique type of coverage in that there are parts of the world where it has become exceptionally commonplace, and there are others where it has remained virtually nonexistent. India has fallen into that second category, as few owners have chosen to buy health insurance for their pets. This type of coverage helps to cover bills such as those for veterinary visits, medical treatments, surgeries, and even certain medications,…

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