Pet MarketLooks: Pet Insurance in North America, 3rd Edition
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Title: Pet Insurance in North America, 3rd Edition
Published: May 2008
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The following is the abstract from the full report:
Pet Insurance in North America, 3rd Edition If the future of this market depends on marketing-driven consumer demand, as Packaged Facts believes it does and history supports, then the North American market for pet insurance is at a pivotal stage. Since the previous edition of this report, published in November 2005, over a half dozen new companies have come onto the playing field, each of them putting a different spin on pet insurance, from highly customizable plans to greatly simplified ones. In the pet insurance spotlight as of spring 2008 are huge consumer and pet market companies and brands—including PurinaCare, AKC, ASPCA and Kroger—as well as dedicated pet insurance underwriters such as American Pet Insurance Company and SecuriCan. This ramped-up activity is challenging established marketers across all channels—direct-to-consumer, veterinarians, company benefits, corporate alliances and shelter programs—a situation that seems sure to drive up consumer awareness and market penetration.
Based on primary research including interviews with every leading pet insurance provider in North America, this third edition of Packaged Facts’ groundbreaking 2003 report offers a road map for competing effectively in this market both now and in the years ahead. Six top players are profiled in depth (VPI, Pethealth, SecuriCan, Hartville, PetFirst and PetPartners), while insightful “company snapshots” detail the activities of emerging U.S. players including Trupanion (marking the U.S. cross-over of Canada’s Vetinsurance), Pets Best, Embrace, Petplan and EnsuraPet. Statistics provided include historical and projected market revenues (gross written premiums), number of policies in force and company shares (both U.S. and Canadian), along with detailed consumer profiles of pet owners, pet insurance purchasers and pet owner prospects based on data from sources including Simmons Market Research Bureau, The American Pet Products Manufacturers Association, and The American Veterinary Medical Association.
These and other components make this report the most thorough and comprehensive examination of the North America pet insurance market ever and a must-have for any company interested in capitalizing on this rapidly expanding industry, which is projected to chart double-digit gains through 2012.