Tag: pet insurance policy

Lemonade pet insurance products are in the making

Marc
Lemonade Pet Insurance - Dog and Cat

The homeowners and contents policy provider will be expanding into an all new market. Lemonade pet insurance is about to become the next offering from the industry disrupting homeowners and contents insurer. The company has managed to raise $480 million and is now set to cover cats and dogs. It is not yet clear when the Lemonade pet insurance policies will start selling. So far, the insurer has announced its intentions to step into that category. It is also making its way through the regulatory process of selling coverage for…

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Generation X buys more pet insurance policies than any other generation

Marc
pet insurance policies - dog with head cone

Most people who purchase veterinary health plans for their furry family members have age in common. The average age of people who have purchased pet insurance policies is 43 years old. Moreover, those with coverage for their dogs and cats often have other features in common, too. Most people who have this coverage receive it through their employers and are married. The stats were presented by EverythingBenefits, following an analysis of demographic data regarding workers using the pet insurance policies offered as a part of the benefits provided by their…

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Trupanion pet insurance company slammed with $100k fine

H. Cutner
Trupanion pet insurance - Gaval - Judge - Fine

The Seattle-based insurer is being sanctioned by the commissioner’s office for the third time in four years. For the third time since Insurance Commissioner Mike Kreidler took office four years ago, his office has sanctioned Trupanion pet insurance. The animal health insurance company was fined for a number of different behaviors and activities. Trupanion Managers USA, a unit of the publicly traded Trupanion pet insurance company, was fined for a number of its marketing activities. These include: • Paying an unlicensed website for pet insurance marketing and lead generation, •…

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British pet insurance payouts reach record £785 million level

G. Turner
Pet insurance payouts - GBP

Policyholders have shattered previous records in the amount they received from their claims in 2018. Pet insurance payouts in the United Kingdom struck record levels in 2018 when they broke the £785 million mark. The figure rose to this level despite the fact that the number of claims filed by policyholders actually fell, said the Association of British Insurers (A.B.I.). The industry trade body pointed to a rising cost of complex veterinary care to explain the payment size. The A.B.I. underscored the increasing cost associated with sophisticated medical care to…

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Companies use pet insurance benefits to draw talent

Marc
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 being used by employers to draw millennial talent

Julie Campbell
pet insurance employee benefits

A number of perks relating to the ownership of cats and dogs are also being used to retain that talent. Businesses that are hoping to appeal to talent in the millennial generation – and to retain them – are starting to offer employees benefits that include pet insurance and other perks that could attract animal owners. Stifel Equity Research data shows that nearly half the workforce will be made of that generation by 2020. Employees within this age group present a whole new range of challenges and needs which must…

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Pet insurance is extremely unpopular in India

Julie Campbell
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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