United Kingdom Pet Insurance Market 2019: Consumer Research Report - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 10, 2019--
The “UK Pet Insurance Market 2019: Consumer Research Report” report has been added to ResearchAndMarkets.com’s offering.
Interesting findings contained in the report are:
25% of all consumers own pet insurance, while almost half of consumers own a pet, resulting in just under half of pet owners (46%) owning pet insurance. Insurance ownership is significantly higher if the consumer owns a dog or a pedigree cat because pedigree breeds traditionally have more health problems compared with their mixed breed counterparts.
Owners with mixed breed dogs also show a high level of insurance ownership because dogs, in general, are the most likely pets to have accidents or get injured in fights. Owners of dogs and cats are the main customer base for pet insurance, especially dog owners: 97% of pet owners with pet insurance own either a dog or a cat.
For almost nine-in-ten pet insurance policyholders their customer journey decision each year is to switch or renew, in other words, they are not first-time buyers (FTBs) of pet insurance in the market. Three-quarters of policyholders renew their policies each year, with just over one-in-ten switching provider and a similar percentage being FTBs, buying their first pet insurance policy.
Pet owners owning cats and dogs, especially pedigree dogs, are the most likely to switch provider, which is related to the fact that these pet owners are likely to be paying the highest premiums, so have the greatest incentive to switch to save money.
When selecting a policy to buy, pet insurance policyholders tend to focus more on the cover on offer rather than the price. They also prefer to buy their cover from well-known branded providers.
Key Topics Covered:
1. Executive Summary
3. Profile Of The Insured Pet Owner
4. How Pet Owners Approach Insurance
5. The Customer Journey Begins
6. Price, Cover Or Brand
7. Being A Policyholder
8. Ending The Journey: Customer Loyalty And Switching
9. Market Size And Trends
For more information about this report visit https://www.researchandmarkets.com/r/efj6ii
View source version on businesswire.com:https://www.businesswire.com/news/home/20190910005520/en/
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KEYWORD: UNITED KINGDOM EUROPE
INDUSTRY KEYWORD: INSURANCE PROFESSIONAL SERVICES
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 09/10/2019 06:27 AM/DISC: 09/10/2019 06:27 AM