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InsuranceDekho partners Future Generali to offer pet insurance

Insurance start-up InsuranceDekho has partnered with Future Generali India Insurance Company to offer dog health cover and is in the process of tying up with other insurers as well. The pet insurance policy as of now has a starting premium of about 324 annually.

InsuranceDekho offers comprehensive coverage for over 25 breeds of dogs, aged 6 months to 10 years. With this pet insurance plan, financial assistance is offered for expenses incurred by pet parents towards hospitalisation (including pre and post hospitalisation), treatment of terminal illness, and surgery, subject to certain terms and conditions which may vary from one insurance provider to another.

“We are aware that pets and their human parents share a close bond, and that even dogs occasionally find themselves in unexpected predicaments. We have launched Pet Insurance to help pet parents protect their furry babies in these trying times. India has an estimated pet population of 32 million pets growing at 12% yearly, with dogs making up almost 85% of the total population. We can infer that the number of dogs insured in India is also on the rise, giving us an immense opportunity to grow in the dog health insurance category,” said Ankit Agrawal, co-founder and CEO of InsuranceDekho.

Post covid, there has been a wave of pet parenting with millennials making up 31%, baby boomers 29%, GenX 26%, and Genz and Builder generations making up the rest of the pet owner market in India. It is estimated that pet insurance (including cattle) in India will witness an increase of at least 14% to achieve $490 million at the end of the year 2022. Globally, the pet insurance market is anticipated to reach $ 32.7 billion by 2030.

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