Gurgaon-based insurance company InsuranceDekho has recently launched pet insurance to its product portfolio, whereby which pet owners will get comprehensive coverage for a bunch of breed of dogs. InsuranceDekho has partnered with Future Generali India Insurance Company to supply a novel dog health cover and can be within the strategy of tying up with other insurers, the corporate said in a press release on Monday, August 1.
InsuranceDekho under their dog medical health insurance plans offers comprehensive coverage for over 25 breeds of dogs, aged six months to 10 years. With this pet insurance plan, financial assistance is obtainable for expenses incurred by pet parents towards hospitalisation (including pre and post hospitalisation), treatment of terminal illness, and surgery, subject to certain terms and conditions which can vary from one insurance provider to a different, the corporate said.
The pet insurance policy as of now has a starting premium of about Rs 324 annually, it added. The pet insurance plan has been launched on the premise of rising pet owners in India. “Post covid, there was a wave of pet parenting with millennials making up 31 per cent, baby boomers 29 per cent, Gen Xers 26 per cent, and Genz and Builder generations making up the remainder of the pet owner market in India,” said InsuranceDekho in a press release.
It’s estimated that pet insurance (including cattle) in India will witness a rise of not less than 14 per cent to realize $490 million at the tip of the yr 2022, said the corporate. Globally, the pet insurance market is anticipated to succeed in USD $32.7 billion by 2030.
Commenting on the launch Ankit Agrawal, co-founder and CEO of InsuranceDekho, said, “We’re aware that pets and their human parents share an in depth bond, and that even dogs occasionally find themselves in unexpected predicaments. Now we have launched Pet Insurance to assist pet parents protect their furry babies in these trying times.”
“India has an estimated pet population of 32 million pets growing at 12 per cent yearly, with dogs making up almost 85 per cent of the overall population. We are able to infer that the variety of dogs insured in India can be on the rise, giving us an immense opportunity to grow within the dog medical health insurance category,” said Agrawal.
InsuranceDekho organised an event for the pets on the day of the launch, the corporate said. “On the day of the launch, the corporate hosted a special launch event attended by four-pawed friends from various daycares and animal shelters. Through the event, the dogs cum special guests of the day participated in fun events with the corporate employees and beautifully illustrated the meaning of the ‘coexistence’ of various beings on the planet,” it said.
InsuranceDekho, incorporated in 2016, clocked a business of over Rs 1000 crore in premium in FY22. It enables its consumers to match different insurance policies based on their requirements and helps them purchase probably the most suitable plan as per their needs.
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