High tech shouldn’t mean high price when it comes to pet insurance
What will your pet eat for lunch today? New research has shed new light on the reality of what our four-legged friends might eat for a ‘treat’, and the results provide yet another compelling reason to take out insurance cover for your animal, according to, Aquarium Software. A US veterinary magazine has created an awards list for the most interesting pet x-rays and in doing so highlighting the truly bizarre items your pet might consider lunch. 43 socks; a light bulb; rubber ducks. These are just a few of the indigestible snacks that have been uncovered by vets.
The winner of the prize for ‘most bizarre x-ray’ was an exotic pet frog that had eaten 30 ornamental rocks. Also amongst the x-ray snaps revealing what was buried deep inside the animals’ digestive systems was a shish kebab skewer eaten by a German shorthaired pointer. A kitten had found a taste for toy aliens and a bearded dragon had swallowed a plastic banana. “We can’t protect our animals all the time and if your dog decides it wants to eat a hacky sack or a fish hook - which were both on the list - you probably won’t be able to stop them,” said Mark Colonnese, VP Sales and Marketing. “These weird lunch times could prove extremely costly for the pet’s owner without cover, which is why it’s important to find a pet insurance plan that protects your animal against accident.
“However, despite these x-ray images surfacing and with increased general awareness about pet illness in general and the cost of healing, there is still a huge gap in the market for pet insurance. In the USA it is estimated that less than 1% of pets are covered according to the North American Pet Health Insurance Association (NAPHIA); we think a key reason for this is high insurance premiums, but something real and present can be done by insurers in order to bring this price down,” adds Colonnese.
Aquarium knows a trick or two about bringing down the price of insurance premiums, having successfully deployed systems using its ‘management by exception’ cloud platform to manage policy administration, track fraudsters and keep tabs on claim leakage in an efficient manner - maintaining a positive customer journey and leaving the pet parent fully engaged in the claims process like never before.
“Although the cost of vets fees for hi-tech treatment is a big influencing factor when it comes to increasing pet insurance premiums, there is also a technological deficit in the pet insurance industry that we are trying to change, in order to bring it in line with more traditional insurance markets, such as the motor and home market,” concluded Colonnese.
“By improving the technology solutions that are now available for this and other niche insurance sectors, we are improving the efficiency, effectiveness and profitability of the market, which in turn should lead to lower premiums over time.”