UK Pet Insurance Market is in the Growing Stage, Being Driven by Growing Companion Animal Population and Impact of Covid-19: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit 1. Covid-19 pandemic has been a major catalyst for UK Pet Insurance market, with a growth rate CAGR of 5.3% between 2017-2022P. To learn more about this report Download A Free Sample By 2027F, the UK Pet Insurance market is expected to grow at a robust rate. The market’s expansion can be ascribed to the increasing companion animal population, adoption of advance technology, high veterinary cost and growing At-home diagnostic. Furthermore, the Covid-19 pandemic has also led to rise in health issues among animals which has further boosted the growth in pet insurance market in UK. The Pet insurance market is expected to grow at a CAGR of 4.8% between 2022P-2027F because of the emergence of new companies like Petsure, RSPCA, and Napo insurance. The prominent companies in the UK Pet Insurance market in 2022P includes: Many Pets, Petplan, Direct Line and others. 2. Increasing companion animal, high veterinary costs, rising pet health issues and awareness among pet owners are the major growth drivers for UK Pet Insurance Market. Visit this Link Request for a custom report The pet insurance market is growing mainly because of the increase in companion animal population. The reason behind this increase in the prevalence of mental illnesses in humans such as clinical depression, anxiety-related issues, personality disorder, and psychotic disorder and one of the popular treatments for this mental illness is animal-assisted therapy, as animals can provide patients with emotional support. This growth in companion animal population is expected to fuel growth in pet insurance market for one more reason, the Veterinary costs. These costs are very high due to requirement of veterinary doctors, skilled technicians, and specially designed diagnostic equipment. These costs create a need for pet owners to seek options for reducing their out-of-pocket expenditure on veterinary care by taking insurance. Furthermore, increasing digitization and growing awareness are also expected to fuel the growth in the UK pet insurance market. 3. With Lack of Awareness, Complexity in Digital Process and Confusing Chatbots are posed as the major challenges faced by the UK Pet Insurance Market. A key challenge faced by the pet insurance market is the lack of awareness and understanding of pet health insurance among pet owners which results in low adoption rate of pet insurance in UK. But the lack of awareness is not the only challenge faced the market, challenges like lack of personalised recommendations and complexity in the Digital process also halts the growth of the pet insurance market. Furthermore, Insurance policies often do not allow any changes to the parameters of the product. This, coupled with the fact that each insurance provider has many policies on offer makes it difficult for consumers to choose the right one. What the Customers wants is the simple and fast digital interactions for the purchase of pet insurance, but complex coverage details that include many specific exceptions create barriers for the customers, thus halting the growth of the pet insurance market. 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