The pet insurance market is expanding rapidly as rising vet fees and a CMA review push the industry toward greater transparency and fairer outcomes for owners. Claims exceeded £1 billion in 2024, yet only a quarter of pet owners are insured, leaving significant room for growth. Providers like Perfect Pet, Admiral and Petgevity are simplifying policies, improving pricing clarity and investing in advanced medical coverage. At the same time, fraud is increasing, prompting insurers to strengthen verification systems and collaborate across the industry. As veterinary medicine evolves, lifetime cover, higher limits and tailored plans are becoming the norm. Learning from private medical insurance, networks and cost-management strategies may help control premiums while ensuring quality care. Prevention, innovation and customer empowerment are also shaping future product design. As AI and automation streamline claims and support services, the sector is moving toward a more sophisticated and customer-centric model.
Curious to dive deeper into these trends? Read the full article to explore the future of pet insurance.