Pet insurers must capitalise on girl power
Insurance technology specialist Aquarium Software says pet insurers need to rethink their approach to the sector in the light of new findings revealing significant gender differences when it comes to relationships with our pets. A YouGov survey commissioned by Aquarium shows a woman’s love may not be as brief as Hamlet supposed, when it comes to pets, with up to double digit differences between the sexes on the key questions.
74 percent of women say their pets are just as important to the family as the human members (compared to 64 percent of men); and 36 percent say pets are more fun than children. In a worrying development for partners, 22 percent of women say pets understand them better and 46 percent of female pet owners would save their pet first if their pet and a stranger both fell into a river. Men prioritise a stranger in danger (44%) - but only 32 percent of women would.
“Man’s best friend may be his dog, but in a surprise twist, it seems that pet’s best friend may be woman,” said Aquarium Software Director, Mark Colonnese. “Technology is vital in understanding gender differences and they matter because the sexes do not necessarily make purchasing decisions based on the same parameters and if women are taking the lead when it comes to pet care, it pays insurers to take female views extremely seriously.”
Tellingly, the survey also showed that women would pay the most if their pet became ill, with 18 percent prepared to spend more than £3,000 compared with only 12 percent of men who would spend that much. Women are also more likely to have pet insurance than men, with two fifths (40%) of women having cover. “Gender attitudes may play a bigger role than first thought, when it comes to pet insurance,” said Mark Colonnese. “Understanding differing gender motivations is crucial for customer engagement; not least when marketing to that key group of pet owners who have no insurance, or have had it in the past and need to be persuaded to re-insure,” Mark concluded.