Abstract
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.
Report Methodology
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.
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