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Sunday, May 5, 2024
HomePet Industry NewsPet Insurance NewsUK Pet Insurance coverage Market Dynamics, Tendencies & Opportunities

UK Pet Insurance coverage Market Dynamics, Tendencies & Opportunities

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Figure 1: UK pet insurance coverage GWP grew by 12.8% in 2022

Figure 2: The variety of pet insurance coverage policyholders continued to develop in 2022

Figure 3: Dog insurance coverage accounted for greater than two thirds of whole policyholders in 2022

Figure 4: Inflation is predicted to have peaked in 2022

Figure 5: Dogs accounted for 78.5% of pet insurance coverage GWP in 2022

Figure 6: The common premium for different pets fell by 19.8% in 2022

Figure 7: The cost of veterinary companies and different companies for pets is rising

Figure 8: The whole variety of reported claims elevated by 28.4% in 2022 to succeed in a report excessive

Figure 9: The whole confirmed worth and quantity of fraudulent claims reached report highs in 2022

Figure 10: Gross claims incurred elevated by 16.8% in 2022

Figure 11: The common canine declare fell by 8.5% in 2022 – the primary lower since 2017

Figure 12: There is room for progress for monitoring expertise to observe pets within the UK

Figure 13: Allianz was chargeable for the biggest share of premiums within the pet insurance coverage market in 2022

Figure 14: Allianz accounted for probably the most contracts in 2022

Figure 15: The pet insurance coverage market is ready to succeed in just below GBP2 billion by 2027

Figure 16: There is potential for progress within the pet insurance coverage market

Figure 17: There will likely be 4.6 million pet insurance coverage policyholders by 2027

Figure 18: Forecasting methodology

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