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Pet Insurance in North America: The Market and Trends in the U.S. and Canada
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Nov 1, 2005
132 Pages - Pub ID: LA1087710
Attention: There is an updated edition available for this report.
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Chapter 1: Market Trends
- Introduction
- Market Definition
- Range of Coverage
- Typical Restrictions
- Other Services
- Equine Insurance Excluded
- Market Size and Composition
- North American Pet Insurance Market Revenues, 2001-2005
- Figure 1-1: Share of North American Pet Insurance Market: United States vs. Canada, 2005 (percent)
- Table 1-1: North American Pet Insurance Market Revenues, 2001-2005 (in millions of dollars)
- U.S. Pet Insurance Market Revenues, 2001-2005
- Table 1-2: U.S. Pet Insurance Market Revenues, 2001-2005 (in millions of dollars)
- Canadian Pet Insurance Market Revenues, 2001-2005
- Table 1-3: Canadian Pet Insurance Market Revenues, 2001-2005 (in millions of dollars)
- Share of Policies by Animal Type
- Figure 1-2: Share of U.S. Pet Insurance Market Revenues by Animal Type, 2005 (percent)
- Top 10 Pet Insurance Claims
- Market Outlook
- Overall Pet Market Going Strong
- Table 1-4: Average U.S. Household Expenditures on Pet Products and Services, 1994 vs. 2003 (in dollars)
- Table 1-5: Aggregate U.S. Household Expenditures on Pet Products and Services, 1994 vs. 2003 (in thousands of dollars)
- Pet Insurance Market Peculiarities
- Trends in Veterinary Care Spending and Services
- Table 1-6: Average and Aggregate Annual Consumer Expenditures on Veterinary Services, 1994-2003
- Table 1-7: Trends in Veterinary Care Spending and Service Types Among Pet Owners, 2003 vs. 2004 (percent)
- Pet Oral Care an Important Growth Area
- Rising Expenditures on Human Health Insurance
- Table 1-8: Average U.S. Household Expenditures on Insurance, 1994 vs. 2003 (in dollars)
- Increased Advertising, Participation by Corporate Giants
- Pet Humanization an Ongoing Factor
- Table 1-9: Consumer Activities and Opinions Reflecting Humanization of Pets, 2003-2004 (percent)
- Pet Population Trends
- The Aging Pet Population
- The Overweight Pet Population
- The Boomer Factor
- Figure 1-3: Share of U.S. Population Growth for Selected Age Brackets, 2005-2010 (percent)
- Table 1-10: Dog and Cat Ownership Indices: By Adult Age Bracket, 2004 (U.S. households)
- Other Key Demographics
- Looking Ahead
- Market Projections
- Double-Digit Gains to Continue in Both U.S. and Canada
- Figure 1-4: Projected North American Pet Insurance Market Revenues, 2005-2010 (in millions of dollars)
- Table 1-11: Projected North American Pet Insurance Market Revenues, 2005-2010 (in millions of dollars)
- Table 1-12: Projected U.S. Pet Insurance Market Revenues, 2005-2010 (in millions of dollars)
- Table 1-13: Projected Canadian Pet Insurance Market Revenues, 2005-2010 (in millions of dollars)
Chapter 2: Competitive Trends
- Overview
- VPI Leads North American Market
- Table 2-1: Top North American Marketers of Pet Insurance
- Figure 2-1: Estimated Share of North American Pet Insurance Market by Company, 2003 vs. 2005 (percent)
- Figure 2-2: Estimated Share of U.S. Pet Insurance Market by Company, 2003 vs. 2005 (percent)
- Figure 2-3: Estimated Share of Canadian Pet Insurance Market by Company, 2003 vs. 2005 (percent)
- Strategic Directions
- Direct-to-Consumer Marketing
- Table 2-2: National Consumer Advertising Expenditures on Pet Insurance, 2000-2004 (in thousands)
- Veterinarians Still Key Allies
- Group Sales and Company Benefits Programs
- Marketing Alliances
- Simplification and Differentiation
- Underwriting Viewed as Profit Path
- Market Continues to Attract New Players
- Outside Competition
- Competitor Profile: Veterinary Pet Insurance Co. (VPI)
- Company Overview
- Coverage Expanded to Include Vet-Prescribed Devices
- Corporate Upheaval
- The Financial Picture
- Figure 2-4: Veterinary Pet Insurance Gross Written Premiums, 1998-2004 (in millions of dollars)
- New $15 Million Cash Infusion from Scottsdale
- Marketing Avenues
- Direct-to-Consumer Via Ramped Up Advertising
- Figure 2-5: Total National Consumer Advertising Expenditures by Veterinary Pet Insurance by Month, 2002 vs. 2004 (in thousands)
- Table 2-3: National Consumer Advertising Expenditures by Veterinary Pet Insurance, 2000-2004 (in thousands)
- Corporate Alliances: The Iams Team-Up
- Veterinary Channel Marketing
- Employee Benefits Programs
- Web-Based Marketing
- Competitor Profile: Pethealth, Inc.
- Company Overview
- PetCare Program Types and Underwriters
- Steady Revenue Growth
- Figure 2-6: Pethealth Revenues, 1999-2004 (in Canadian dollars)
- Figure 2-7: Pethealth Total Policies in Force, 1999-2004
- Share of Policies in Force by Type
- Figure 2-8: Share of Pethealth Paid Pet Insurance Policies in Force by Type, 2002 vs. 2004 (percent)
- Distribution Strategy
- Shelters
- PetCare Direct
- Veterinary Clinics
- Strategic Partners
- Online Brokers
- The U.S. Push
- The Technology Push
- E-Commerce
- 24PetWatch Pet Registry Services
- PetPoint Software
- EVE Online Claims Processing
- Looking Ahead
- Database Development
- Underwriting Risk
- Legal Concerns
- Competitor Profile: SecuriCan General Insurance Company
(Petplan)
- Company Overview
- Canada’s First Dedicated Pet Insurance Underwriter: SecuriCan
- Petplan Policy Types
- Marketing Channels
- Other SecuriCan Pet Insurance Lines
- Strategic Alliances
- Petplan Teams up with Iams to Offer Pet Health Packages
- Petplan U.K.
- Veterinary Pet Insurance (VPI)
- Other Alliances
- Competitor Profile: Hartville Group, Inc.
(Petsmarketing Insurance.com Agency, Inc.)
- Company Overview
- Types of Plans
- Company Sales Trends
- Figure 2-9: Hartville Group Gross Revenues and Gross Written Premiums, 2000-2004 (in millions of U.S. dollars)
- Reinsurance Ups and Downs
- New Consumer Ad Campaign
- Direct Sales Pitch Through Catalina Marketing
- On the Web
- AKC Partnership Discontinued; PetMed Deal Uncertain
- Looking Ahead
- Competitor Profile: Pet Protect, Inc.
- Company Overview
- Types of Plans
- Standing Out in the Crowd
- Marketing Approaches
Chapter 3: Consumer Trends
- Introduction
- Methodology and Data Sources
- Pet Owner Trends and Demographics
- Over 50 Million U.S. Households Own Dogs or Cats
- Trends in Multiple-Pet Households
- Figure 3-1: Total Households for Selected Pet-Owning Classifications: By Number of Dogs or Cats Owned, 2004 (in thousands of U.S. households)
- Pet Ownership by Age Bracket: The Boomer Skew
- Whites 20% More Likely to Own Both Dogs and Cats
- Dog Owners Skew Upscale
- Households of 5+ Persons Are 66% More Likely to Own Both Dogs and Cats
- The Pet Specialty/Mass-Market Divide
- Pet Specialty Store Shopper Demographics
- Health Attitudes and Concerns of U.S. Pet Owners
- Pet Health Product Demographics
- Household Purchasing of Pet Supplies by Retail Outlet Type
- Pet Owners Active on the Web
- Table 3-1: Household Penetration Rates for Selected Pet-Owning Classifications, 2000-2004 (U.S. households)
- Table 3-2: Dog and Cat Ownership Indices: By Adult Age Bracket, 2004 (U.S. households)
- Table 3-3: Total Households for Dog and Cat Ownership Classifications: By Adult Age Bracket, 2004 (in thousands of U.S. households)
- Table 3-4: Dog and Cat Ownership Indices: By Race/Ethnicity, 2004 (U.S. households)
- Table 3-5: Dog and Cat Ownership Indices: By Household Income, 2004 (U.S. households)
- Table 3-6: Dog and Cat Ownership Indices: By Household Size, 2004 (U.S. households)
- Table 3-7: Percentage of Pet-Owning Households Who Shop for Pet Supplies in Specialty vs. Mass-Market Outlets: By Number of Dogs or Cats Owned, 2004 (U.S. pet-owning households)
- Table 3-8: The Pet Store or Online Shopper for Pet Supplies: Dog or Cat Owners, 2004 (U.S. dog- or cat-owning households)
- Table 3-9: Health Attitudes and Concerns: Cat and Dog Owners vs. All U.S. Adults, 2004 (percent)
- Table 3-10: Pet Health Product Usage: By Number of Cats or Dogs Owned, 2004 (in millions of U.S. adult pet owners)
- Table 3-11: Top Pet Health Product Demographics by Percentage, 2004 (U.S. adult pet owners)
- Table 3-12: Pet Health Product Purchasing: By Pet Supply Outlets Used, 2004 (in millions of U.S. adult pet owners)
- Table 3-13: Household Purchasing of Non-Food Pet Supplies by Outlet Type: Purchasing vs. Sole Purchasing, 2004 (U.S. adult cat or dog owners)
- Table 3-14: Household Purchasing of Non-Food Pet Supplies by Outlet Type: Percent of Purchasers Who Are Sole Purchasers, 2004 (U.S. adult cat or dog owners)
- Table 3-15: Use/Influence of Internet: U.S. Adults Overall vs. Cat and Dog Owners, 2004 (percent)
- Pet Owners and Insurance
- The Quintessential Purchaser of Pet Insurance
- Females Calling the Pet Care Shots
- Top Veterinary Services and Products
- Pet Owners Out Front for Most Types of Human Insurance
- Pet Owners as Medical Insurance Holders
- Pet Owners as Life Insurance Holders
- Table 3-16: Demographic Characteristics Favoring Purchasing of Pet Insurance, 2005 (U.S. adults)
- Table 3-17: Household Penetration Rates for Selected Types of Insurance: Overall Households vs. Dog- or Cat-Owning Households, 2005 (U.S. households)
- Table 3-18: Usage Indices for Selected Types of Insurance: Dog- or Cat-Owning Households, 2005 (U.S. households)
- Table 3-19: Method of Obtaining Medical Insurance by Percent: Overall Households vs. Dog- or Cat-Owning Households, 2005 (U.S. households)
- Table 3-20: Indices for Method of Obtaining Medical Insurance: Dog- or Cat-Owning Households, 2005 (U.S. households)
- Table 3-21: Company Providing Medical Insurance: Overall Households vs. Dog- or Cat-Owning Households, 2005 (U.S. households)
- Table 3-22: Value of Life Insurance by Percent: Overall Households vs. Dog- or Cat-Owning Households, 2005 (U.S. households)
- Table 3-23: Indices for Value of Life Insurance: Dog- or Cat-Owning Households, 2005 (U.S. households)
- Table 3-24: Company Providing Life Insurance: Overall Households vs. Dog- or Cat-Owning Households, 2005 (U.S. households)
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