Project of Management of Financial

Services
General Insurance (Pet insurance)

Submitted to: Submitted by:

Rohit Rai Tandon Abhinav Bhatt
Gunjan Sobti
Litika Gupta
Neha Sharma
Varun Rastogi
 Insurance

Life General

Property Accident Travel Health Home Miscellaneous

Pet
Pet Insurance
 Pet insurance pays the veterinary costs if one's pet
becomes ill or is injured in an accident. Some policies will
also pay out when the pet dies, or if it's lost or stolen.
 Types of pet insurance: nonlife, life, Money Limit cover.
 Life time: per condition, per condition per year, per year.
 1 in 3 dogs will have one or more unexpected visits to the
Is Dog Insurance A Waste Of Money Or A Smart Investment ?

Vet every year due to accident or illness.

 Veterinary medicine has improved enormously over the past few
years which means there is much more that can be done for
the health and wellbeing of dogs.
 Vet fees are increasing by at least 10% every year and the
average bill is in hundreds.
Scope of Pet Insurance in India
 Less awareness among masses about ‘pet insurance’.
 Most companies do not have pet insurance policies in their
portfolios.
 Further, there is no promotion of these policies as compared to
life and non-life sector.
 Compare this scenario with other countries and one will
wonder how much our country is behind in Pet Insurance.
 Most pet insurance plans overseas include insurance cover for
veterinarian bills, which contributes towards major expenses.
Whereas, this is not a case with pet-insurance policies being
offered in India.
Contd..
 They just insure pets against death due to accident or disease .
 Extra premium charges would have to be paid to cover additional
risks such as accidents, lost or stolen cases, etc.
 Non-existence of promotion and advertisements of pet
insurance policies is the main reason for poor awareness in our
country.
 Looking at the situation in India, it seems currently most animals
are only insured from a commercial viewpoint.
 There are various insurance plans for animals like horses, cattle and
poultry but none for household pets.
 Most insurance companies are too busy cashing in on life & non-life
policies and have not realized the immense potential that this
market holds.
Competitors
 Oriental Insurance
 United India Insurance Co.
 National Insurance Co.
 Bajaj Allianz general Insurance.
 New India assurance co.
Pet Pamper Insurance Company
 We insure your beloved dogs and cats.
 Insurance up to average age.
Mission Statement
To promote highest level of well being for companion
animals and to support the human animal bond.
Our guiding principles
The stakeholders in our co.
1. The pet
2. The pet’s care giver
3. The staff
Policy 1
 0-1 year
Step 1: Valuation of dog or cat
Step 2: Premium will be of 60% of its valued cost
Step 3: You can pay either EMI or at one time
Step 4: To avail the insurance, contact on 99999999
After every year you can renew your pet’s insurance in
order to avail lucrative offers but its not mandatory.
Policy 1 covers
Free medical claim up to 30% of the valued cost
70% claim in any accident, surgery and cancer
Insured Veterinary Services include veterinary care
professional fees, hospitalization, surgery, medication,
as indicated on our Coverage Plan.
Renewal of policy 1
 1-2 year
 In renewal of the policy the Premium will be reduced to
39% of the value of the dog/annum if no claim is done
beyond 30% of the premium.
 If the claim is more than 30% of its premium then the
premium will be will be 49% of the estimated value of dog
 Cover will include all the features covered in old policy(0-
1year)
Working of policy
Age of the dog New policy Renew of old policy

0-1 6000 ---------

1-2 6000 4900

2-3 6000 4900

5-6 6000 4900

6-7 6000 4900

7-8 7000 5900

8-9 7000 --------

What differentiate us?
NO need of giving Co pay
NO need of giving Deductible
Free medical claims upto 30%
We will not pay for:

1. Any treatment you choose to carry out that is not directly

related to an accident or illness.
2. Any food including prescription or therapeutic.
3. Treating an Accident or Illness caused deliberately.
4. House visits, that you choose to have your Veterinarian visit
your home in lieu of going to its clinic; in this case we will pay
only the cost of the regular examination fee.
5. Euthanizing your pet unless recommended by your
Veterinarian as the direct result of an accident or illness.
6. Any accident or illness resulting directly from pet’s usage for
professional, occupational or business purposes unless we pre-
approve coverage.
7. Charges resulting from pregnancy, whelping or queening for:
Routine procedures such as aftercare of litter. Pets with
hereditary defects or where a Veterinarian has advised against
breeding.
8. Medications that have neither a Drug Identification
Number (D.I.N.) nor a Natural Health Product Number
(N.H.P.).
9. Treatment for umbilical hernias.
10. Illness or injury caused by war activities. War activities
include terrorist activities, bombardment, invasion, civil war,
insurrection, rebellion, revolution, coup or actions of armed
forces while engaged in a war whether declared or not.
11. Any claims caused by any nuclear incident as defined in the
Nuclear Liability Act, nuclear explosion or contamination by
radioactive material.
Marketing Strategy
 Collaborating with Pet Shop Owners and agreeing on a MoU.
 Collaboration with Veterinary Doctors.
 Creating awareness about Pet Insurance through circulating
Pamphlets.
 Collaborating with Pet Care Shops.
 Collaborating with various kennel clubs which would result
in creating more wide-spread awareness regarding insurance
policies for pets.