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Pet Insurance Market by 2023: Up-gradation in insurance policies driving Global Insurance Industry

02-21-2019 11:28 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Pet Insurance Market by 2023: Up-gradation in insurance

Pet insurance is a type of specialty property and casualty insurance policy, which pet owners purchase to cover the unintended costs, such as veterinary services, surgical procedures, injuries from accidents, and prescribed pet medicines. It is a form of property and casualty insurance, which provides reimbursement to the owner after the pet has received required care and the owner submits a claim to the insurance company.

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Increase in awareness about pet insurance, rise in number of companion animals, and growth in pet ownership and associated health benefits of pet ownership propels the growth of the market. However, high cost of pet insurance policies, lack of awareness among consumers, and government regulation limits the growth of the market. Furthermore, largely untapped market with extremely low penetration rates is expected to provide numerous opportunities for the pet insurance market.

Key Market Players Profiled In The Report:
• Petplan Limited
• Trupanion, Inc.
• Nationwide Mutual Insurance Company.
• Hartville Group Inc.
• Pethealth Inc.
• PetFirst Healthcare LLC
• Royal & Sun Alliance Insurance Company of Canada, Inc.
• Embrace Pet Insurance Agency, LLC
• Direct Line Insurance Group plc
• Petsecure

The pet insurance market is segmented on the basis of end user, policy type, and region. End user segment covered in this study include dog, cat, horse, exotic pet, and others. Based on policy type, the market is classified into Lifetime Cover and Non-Lifetime Cover. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Key Benefits
• The study provides an in-depth analysis of the global pet insurance market and current & future trends to elucidate the imminent investment pockets.
• Information about key drivers, restrains, and opportunities is provided.
• Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of the global market from 2016 to 2023 is provided to determine the pet insurance market potential.

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

Contact:

David Correa
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United States.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

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