All in the Family: Tapping into the Pet Insurance Market Opportunity
Alexandre Douzet, CEO, Pumpkin, said pet insurance becomes a more important consideration when owners face the prospect of large medical large bills for their pet.
Chris Blatchly, Chief Digital Officer & Consulting Leader for Insurance, Cognizant, said insurance penetration among pet owners stands at 3%.
Ramanujam Venkatesan, Property & Casualty Insurance Consulting Leader, Cognizant, said many people, including millennials, have come to view their pets as members of their extended families.
Alexandre Douzet, CEO, Pumpkin, said pet insurance depends on two channels: direct sales to consumers and via veterinarians.
Ramanujam Venkatesan, Property & Casualty Insurance Consulting Leader, Cognizant, said insurers that have flexible, adaptive systems can customize and personalize their interactions with prospects and new customers.
