Posted By: Jessica Schulz
The pet insurance market is highly concentrated and difficult to navigate. Petplan is the largest pet insurance provider in the world, offering comprehensive lifetime pet insurance coverage for dogs, cats and rabbits and has released a visual chart to assist pet owners.
Petplan illustrates the different insurance options in an easy-to-read chart and features three levels- ultimate, classic and essential. Many pet owners think that they have purchased lifetime insurance and a wide range of care, when in fact, the coverage is quite restrictive.
Simon Masding, Petplan’s Head of Sales and Partnerships said since Petplan started 35 years ago the pet insurance market and vet industry has changed significantly, especially in the last few years. “Advances in new technology and better diagnostics allowing vets to save and treat more pets means our policies need to evolve so that pets can continue to get the best possible treatment.”
Petplan conducted research with veterinarians, charities, breeders, shelters and owners. The company concluded that it was time to make change in verbiage and clarity to explain their comprehensive policies.
Zeta Frasca, owner and practicing vet at Kitten to Cat in Richmond, London explains, “These changes will not only make it clearer for the pet owner but it will also make it a lot easier for us as an industry to explain pet insurance to our clients, which is really important.”
Petplan has adjusted coverage to additional situations, normally ignored with other plans, such as theft. Costomers can choose to upgrade their plan as well to include a hotline service headed by Blue Cross and a legal assistance hotline from Petplan. “We’re always looking at ways we can better keep pets healthy and owners happy and these changes will complement our ability to pay vet practices direct and settle 90 per cent of claims within 5 working days,” says Simon.
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