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1 Synthèse du marché
1.1 Introduction
That of pet insurance policies is an industry concerned with providing insurance coverage for veterinary expenses and other pet health-related emergencies.
Offerings and products in the pet insurance policy market may include:
- Health coverage policies: These policies cover veterinary expenses for preventive care, checkups, vaccinations, medical treatments, surgeries and therapies for pets.
- Liability policies: These policies provide coverage in case of damage caused by pets to third persons or property.
- Policies forloss or misplacement of pet: These policies provide coverage in case the pet is lost or stolen.
- Pet death policies: These policies cover expenses associated with the death of the pet, such as funeral or cremation costs.
Pet insurance policies are becoming increasingly popular in Italy, with a potential market of more than 1.3 billion euros. According to an analysis by Facile.it, online searches for these coverages showed a 23 percent increase in January 2023 compared to the previous year. Among the most insured dog breeds, the Labrador Retriever ranks first, followed by the Golden Retriever and the Bulldog. For cats, the Maine Coon is the most insured breed, followed by the Siberian, European, British Shorthair, and Persian. Policy costs vary depending on the coverage desired. Policies that cover liability only start at about 6 euros per month, while those that also include veterinary coverage start at 12 euros and up.[Republic]
The study will discuss the economic and structural characteristics of the Italian pet insurance policy market, with the highest degree of detail made possible by available sources. For more general information on the Italian insurance market, please refer to the other specific studies available in the Businesscoot catalog.
1.2 The global market
The global pet insurance market is facing a period of strong growth, which is expected to reach a total value of $**.* billion by **** (***); an extremely positive figure compared to $*.** billion in ****.
Insurance is certainly useful to cover any costs of veterinary care, as well as to protect the pet's owners against ...
1.3 The local market
One of the aspects covered by insurance policies is the care of the animal's health. In ****, according to data from the latest expenditure monitoring report of the General Accounting Office of the state, Italians spent about *** million euros on this aspect, compared to *** million in ****. The increase compared to the pre-pandemic ...
1.4 Lockdown and pets
The dilgare of Covid-** has led to an increase in pet purchases. A survey vaulted by YouGov shows that as of ****, one in four Italians had begun to devote themselves to caring for a pet. According to data in the interview, the choice was strongly influenced by the consequences of lockdown ...
2 Analyse de la demande
2.1 Demand characteristics
In ****, one-third of Italians will welcome a pet in their home. Compared to ****, a decrease of **.* percent (***).[***]
Pets in Italy Italy, ****, % Eurispes
The following graph provides an interesting overview regarding Italians' choice of pets. The figures clearly show that dogs are the most popular pet in Italy, accounting for ** percent of ...
2.2 Factors influencing demand
Although the option to insure one's pets has existed for years, since **** there has been a significant increase in membership, leading most auto and home insurance companies to make extensions for pet policies. A prerequisite for applying for an insurance plan is that the pet is registered with the registry, has ...
2.3 Geographical distribution of demand
Geographically, the center obtains the primacy of demand for one or more pets with **.* percent; followed by the Northwest (***).
3 Structure du marché
3.1 Market structure and size
The analysis of the size of the insurance market is carried out based on data belonging to the category related to the activities of insurance agents and brokers (***). Specifically, three different magnitudes are considered:
number of active enterprises number of employees legal form of active enterprises
Number of active enterprises
During ...
3.2 The value chain
In the pet insurance landscape, there are two main macro-areas:
insurance dealing with liability and third-party damage: covering damage caused by the animal to people, property or other animals; some insurances also include legal protection in case of damage done or suffered by the dog; insurance covering medical-veterinary expenses: covering medical-veterinary ...
3.3 Distribution channels
The passage of product distribution through agents and brokers is a traditional practice in the insurance industry. These brokers play a key role in the insurance market by connecting insurance companies to customers' needs. The following are some additional considerations:
the role of agents and brokers: insurance agents are often affiliated ...
3.4 Main actors
The following is an analysis of the most important insurance companies that offer pet policies in their offerings.
UnipolSai
UnipolSai Assicurazioni S.p.A. is the insurance company of the Unipol Group, a leader in Italy in non-life insurance and, in particular, in motor liability. It operates through the largest agency ...
4 Analyse de l'offre
4.1 Type of offer and prices
Taking out insurance is required by law only in derminate specific situations: when dogs are considered to be at high risk of aggression (***):
UnipolSai C@NE&G@TTO
The policy offered by the UnipolSai group is for dogs and cats with microchips or identification tattoos only; it offers coverage for care, ...
4.2 Features and costs
Choosing the best insurance policy takes into consideration several variables, one of them being the convenience of one rate over another; the following are some examples:[***]
The cost of dog insurance
Comparing the main features of the policies on the market, the costs of an insurance that covers only third-party liability ...
4.3 New demand trends: mutual assistance
The Assigeco insurance company is offering a new insurance project for the protection of pets. The veterinary care mutual that bears the name "Protect Me Forever" and is on sale online at assaperlo.com is an innovative protection solution designed to provide many useful services for both pet and owner.
The ...
5 Règlementation
5.1 The regulation
At the regulatory level, there is no law that makes it compulsory to take out insurance for one's pets; the legislation provides for a compulsory policy only if the pet is included in the register of animals (***) declared to be at high risk of aggression, compiled and updated by the Veterinary ...
5.2 Pet bonus
In one of the many amendments proposed in the Budget Law of ****, an annual allowance of approximately €*** was to be established for each pet (***) living in the household and registered in the relevant registry, providing for activation for all beneficiaries with an Isee under €**,***. The proposal, however, was not approved and ...
6 Positionnement des acteurs
6.1 Segmentation
Italian companies
Foreign companies
- UnipolSai Assicurazioni
- Assicurazioni Generali
- HD Assurances (JAB Holding)
- Poste Italiane
- ConTe - Gruppo Admiral
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The pet insurance market | Italy
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