‘Petswap’ phenomenon presents potential pet insurance problems

‘Petswap’ phenomenon presents potential pet insurance problems

Sep 21, 2015

Pet insurance software expert Aquarium Software says the process of insuring our four-legged friends could become further complicated in the future due to pets moving families too much. Statistics show that seventy per cent of pets change families more than once in their lifetime, something which could not only be debilitating and unsettling for the pet itself, but also jeopardises its pet parent’s chances of acquiring appropriate insurance.

“Animals are no different to us humans, in that they need consistency and structure in their lives, and they may react adversely to constant change” says Mark Colonnese, VP and Sales & Marketing Director at Aquarium Software Inc. “By moving around families too often, it also becomes more difficult to track a pet’s insurance and medical history, which adds to the problem from the insurer’s perspective.

Pets can move families for a variety of reasons – pet parent job relocations; tight financial budgets; human relationship split-ups, etc. An important part of the mix in reaching a sensible premium calculation is to know the animal’s detailed health and medical history, which can obviously made more difficult if the pet has moved from owner to owner.

“Technology can help massively,” says Mark. “And a national pet owner’s register would solve the problem.”  “Smart technology platforms like our own could then identify an individual’s animal’s history with ease, as well as individual owners’ and vets’ claims histories.”