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Blog: How digital can help the pet insurance sector reach its full potential

MARK COLONNESE | May 22, 2019 | 119 views

Research by the Association of British Insurers has confirmed pet insurance pay-outs hit a record-high of £785m in the UK in 2018. Despite the number of individual claims falling, the size of an average claim rose. This is not a one off. The 2018 increase in claim size was 5% on the previous year, meaning the average size of a pet insurance claim is now £793. The ABI research suggests that the higher costs associated with pet insurance claims are driven by the increasingly sophisticated medical procedures now available for animals. Vets can achieve much more today than they could a decade ago, but it is interesting how the cost of the average pet insurance claim has grown by 75% in that time. Is this due entirely to medical advances?

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Insurance House Group

We're proud to be an Australian owned business that supports our clients with insurance solutions and support they need, when they need it. We offer buy online products for over 200 health professional modalities in addition to 50 professional industries including mortgage brokers and accountants. In addition to online solutions we have over 120 brokers and insurance consultants located across 11 offices throughout VIC, NSW and QLD. Focused on building genuine relationships with their clients and becoming long term trusted advisers. We're about making insurance simple and easy for our clients with a full suite of insurance products, risk management and claims services available.

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