Pet Insurance Market Scope And Analysis

Pet Insurance Market Report Scope

The "Pet Insurance Market Analysis" was carried out based on coverage type, animal type, sales channel, and geography. In terms of coverage type, the market is segmented into accident-only and accident & illness. Based on animal type, the market is segmented into dogs and cats. Based on sales channels, the market is segmented into agency, broker, and direct. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Pet Insurance Market News and Recent Developments

Companies adopt inorganic and organic strategies such as mergers and acquisitions in the pet insurance market. A few recent key market developments are listed below:

• In January 2024, Five Sigma, a prominent provider of cloud-based claims management solutions, entered into a strategic alliance with Odie Pet Insurance, a company committed to enhancing the accessibility and affordability of pet insurance. This collaborative partnership seeks to transform the claims processes within the pet insurance sector and enhance overall industry operations.

(Source: Five Sigma, Company Website)

• In November 2023, Fetch, a leading company in the pet industry, established a strategic partnership with Best Friends Animal Society, a renowned national organization dedicated to eradicating the euthanasia of dogs and cats in American shelters by 2025. Under this partnership, Fetch will make significant contributions to support Best Friends' initiatives in finding loving homes for shelter pets and ultimately realizing their vision of creating a no-kill nation.

(Source: Fetch, Company Website)

• In September 2023, Independence Pet Group (IPG), a prominent pet insurance platform known for its comprehensive services, successfully acquired Felix, the exclusive pet insurance brand dedicated solely to cats in the United States. This strategic acquisition aligns with IPG's recognition of the growing demand for cat pet health insurance, which has emerged as the fastest-growing segment in the market. By integrating Felix into its portfolio, IPG aims to better serve cat owners and address the historically underrepresented cat insurance market. The completion of this acquisition further strengthens IPG's position as one of North America's largest pet insurance and services organizations, supporting the well-being and safety of over 800,000 pets in the U.S. and Canada.

(Source: Independence Pet Group (IPG), Company Website)

Pet Insurance Market Report Coverage & Deliverables

The market report on "Pet Insurance Market Size and Forecast (2021–2031)", provides a detailed analysis of the market covering below areas-

• Market size & forecast at global, regional, and country- level for all the key market segments covered under the scope.
• Market dynamics such as drivers, restraints, and key opportunities.
• Key future trends.
• Detailed PEST & SWOT analysis
• Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
• Detailed company profiles.