According to the 2017-2018 National Pet Owners Survey, almost 70% of U.S. households own a pet. Yet, only a small fraction take out pet insurance for their beloved companions. One of the main reasons America's pets go largely uninsured, is that until recently, pet insurance was not on pet owners or benefit administrators radar. However, as consumer preferences evolve, employees will pay closer attention to the availability of this benefit.
Our team was interested in learning what our ecosystem of 3,000+ employers and 1 million employees was doing about pet insurance. Here are some of our findings:
- The average company size that offers pet insurance is 400 employees.
- The average age of those purchasing pet insurance is 43.
- 65% of those opting in for pet benefits are women.
For more information, check out our recent write-up in Live Insurance News.