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Finaccord's report titled Pet Metrics: Consumer Approaches to Pet Insurance in Australia offers detailed and up-to-date insights into the behaviour of pet owners in the context of pet insurance in Australia. Based on a primary survey of over 1,000 consumers in Australia carried out in the second quarter of 2014, the research provides valuable data describing the extent to which owners of cats, dogs and other animals take out insurance for their pets.

In addition to calculating the percentage of Australian pet owners that buys pet insurance, the investigation also analyses the types of policy that they buy (i.e. stand-alone policies or cover packaged within household insurance or personal liability insurance), whether they hold cover for liabilities associated with pet ownership only or also for other risks (most notably veterinary expenses), which distribution channel and interface they use to take out stand-alone pet insurance and whether they buy cover within a week or a month of acquiring their pet or at a later stage.

Finally, the report measures the degree to which insured pet owners have used their cover to file a claim in the 12 months leading up to the survey and, if so, the reason for making the claim and whether the claim was accepted or not.

Table Of Contents

Pet Metrics: Consumer Approaches to Pet Insurance in Australia
TABLE OF CONTENTS
0.0 EXECUTIVE SUMMARY ... 1
1.0 INTRODUCTION 2
What is this report about? .. 2
Rationale . 2
Global consumer research 2
2.0 SURVEY ANALYSIS .. 3
Introduction . 3
Underlying pet ownership .. 4
Proportion of respondents who own one or more types of pet 4
Segmentation by age group ... 6
Segmentation by annual household income band 7
Uptake of pet insurance . 8
Proportion of pet owners who have pet insurance 8
Segmentation by age group ... 9
Segmentation by annual household income band.. 10
Types of consumers most likely to have pet insurance .. 11
Characteristics of pet insurance .. 13
Types of pet insurance policy ... 13
Risks covered by pet insurance ... 14
Distribution of pet insurance 16
Distribution channels used for stand-alone pet insurance .. 16
Distribution interfaces used for stand-alone pet insurance . 17
Cross-tabulation of distribution channels and interfaces used for stand-alone policies ... 19
Time of acquisition of stand-alone pet insurance 20
Pet insurance claims 21
Frequency and outcome of pet insurance claims ... 21
Main reasons for pet insurance claims 22
3.0 APPENDIX 23
Research sample statistics .. 23
Research structure ... 25
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY ... 1
1.0 INTRODUCTION 2
2.0 SURVEY ANALYSIS .. 3
% of respondents in Australia who own one or more types of pet, 2014 4
% of respondents in Australia who own each particular type of pet, 2014 . 5
% of respondents in Australia who own each particular type of pet, segmented by age, 2014 6
% of respondents in Australia who own each particular type of pet, segmented by annual household income, 2014 .. 7
% of pet owners in Australia who have pet insurance, segmented by type of pet, 2014 ... 8
% of pet owners in Australia who have any type of pet insurance, segmented by type of pet and by age, 2014 9
% of pet owners in Australia who have any type of pet insurance, segmented by type of pet and by annual household income, 2014.. 10
% of respondents in Australia who have any type of pet insurance, segmented by age and by annual household income, 2014.. 11
% of respondents in Australia who have any type of pet insurance, segmented by age and by annual household income, 2014 (table) .. 12
Types of pet insurance policy held in Australia, 2014 13
Risks covered by pet insurance in Australia, 2014. 15
Distribution channels used for stand-alone pet insurance in Australia, 2014 ... 16
Distribution interfaces used for stand-alone pet insurance in Australia, 2014 .. 17
Online sales of stand-alone pet insurance in Australia, segmented by type of device used, 2014 . 18
Cross-tabulation of distribution channels and interfaces used for stand-alone pet insurance in Australia, 2014 .. 19
Time of acquiring stand-alone pet insurance in Australia relative to time of acquiring pet, 2014 20
Frequency and outcome of pet insurance claims in Australia, 2014 . 21
Main reasons for pet insurance claims in Australia, 2014.. 22
3.0 APPENDIX 23
Australian survey sample, segmented by geographical region . 23
Australian survey sample, segmented by age group and by annual household income band ... 24

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ref:plp2014

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