InsuranceDekho Introduces ‘Pet Insurance’:
InsuranceDekho, the top Insurtech startup in India, recently added pet insurance to its line of products. To provide this special Dog Health Cover, InsuranceDekho has teamed up with Future Generali India Insurance Company and is also in the process of forming partnerships with other insurers.
Four-legged friends from various daycares and animal shelters attended a special launch event the company held on the day of the launch. The event’s special guests—dogs—took part in enjoyable activities with the company staff and skillfully portrayed what it means for various species to coexist in the world.
Ankit Agrawal, co-founder and CEO of InsuranceDekho, spoke about the launch:
“We are aware of the close relationship between pets and their human parents, as well as the fact that even dogs occasionally encounter unforeseen difficulties. To assist pet owners in protecting their furry children during these difficult times, we have introduced Pet Insurance. Dogs make up nearly 85% of all pets in India, where the estimated 32 million pet population is growing at a rate of 12% annually. We can infer that India is seeing an increase in the number of insured dogs, which presents us with a huge opportunity to expand our dog health insurance business.
Following covid, there has been a wave of pet parenting, with millennials accounting for 31%, baby boomers 29%, Gen Xers 26%, and the Genz and Builder generations accounting for the remainder of the pet owner market in India. It is expected that pet insurance (including cattle) in India will increase by at least 14% to $490 million by the end of 2022. The global pet insurance market is expected to be worth USD 32.7 billion by 2030.
InsuranceDekho’s dog health insurance plans provide comprehensive coverage for over 25+ breeds of dogs ranging in age from 6 months to 10 years. Financial assistance is provided by this pet insurance plan for expenses incurred by pet parents for hospitalisation (including pre and post-hospitalization), treatment of terminal illness, and surgery, subject to certain terms and conditions that may vary from one insurance provider to the next. The pet insurance policy currently has a starting premium of around Rs. 324 per year.
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