In recent years, the pet economy has risen, accompanied by increasing attention to pet health.
According to the data of China's pet industry in 2020, the number of urban pets in the country exceeded 100 million for the first time in 2020, an increase of 1 over the previous year7%。At the same time, the size of the pet consumer market reached 206.5 billion yuan, and the scale of the pet medical market reached 40 billion yuan, and the scale is expected to exceed 130 billion yuan by 2025. The rise of the pet economy, especially the continuous expansion of pet medical demand, has triggered the insurance industry to gradually expand its attention to protection and begin to set foot in the pet protection market.
In recent years, companies such as PICC, CPIC, Ping An, Taikang, Zhong'an, and Dadi have all made layouts in this field, and Internet platforms such as Micro Insurance and Alipay have also intervened.
From the layout action, it can be divided into three dimensions: first, some insurance institutions are committed to covering pet injury protection; Second, institutions actively explore the market in the form of free insurance; The third is to cooperate to create a closed loop of protection, such as Ping An, PICC and pet hospitals to carry out cooperation, and improve the "insurance + medical" system.
However, it cannot be ignored that there are still many pain points in the development of pet medical insurance. On the one hand, in the pet medical market, it is faced with problems such as uneven hospitals, high costs, and opaque systems; On the other hand, in the pet insurance market, there are problems such as insufficient awareness of pet insurance by users, insufficient product attractiveness, and policyholders using multiple pets to defraud insurance.
At the same time, from the overall situation of pet insurance, China is still in the early stages of infancy, and the overall insurance rate and coverage rate are less than 1%. In contrast, the pet insurance market has begun to take shape, among which Sweden is the country with the highest pet insurance coverage, with a pet insurance rate of nearly 40%.
In the process of maturing, the pet medical security industry needs good industrial support. Gong Qiao, deputy general manager of Taikang's health insurance division, said that for example, excellent pet medical chain institutions will form a standardized and standardized pricing, which can effectively prevent excessively; Good data system and scientific and technological means help to identify pets; Connecting the data channel between pet hospitals and insurance companies can ensure that pricing matches real medical expenditures.