“You’re not questioning insuring a car, but you’re questioning insuring a pet.” That’s the challenge facing Jenny Williams, chief marketing officer of pet health company PetSure.
PetSure’s new advertising campaign aims to raise awareness of the need for pet insurance
Pet insurance is a growing market; Although Australia is a nation of animal lovers, market penetration in Australia remains low. Only 17% of dog owners and 12% of cat owners, according to statistics from Animal Medicines Australia (AMA). This is despite the fact that 69% of households own a pet, and that number is increasing.
According to Williams, the challenge is raising awareness among Australian pet owners of the benefits of pet insurance. This is a major challenge, particularly in the post-pandemic market, where pet ownership has risen sharply, with nearly two in five dogs having been acquired since the Covid-19 outbreak.
“The pandemic has led to a tremendous increase in pet ownership, and we’ve seen that across the board,” says Williams. “However, many first-time pet owners are simply unaware of the costs associated with vet visits, routine grooming, or animal health treatments. The mission is to sensitize people.”
Australians reportedly spend nearly $500 a year on canine veterinary services and just over half of that $260 on cats. However, that doesn’t take into account the high costs that can arise if your fur baby eats something they shouldn’t, has an accident or becomes ill, according to PetSure.
“We’ve researched why people don’t get pet insurance, and one reason is that people don’t find it worthwhile. Having a younger pet makes them less prone to illness, but our data shows that younger pets are more prone to accidents. That’s the premise of the campaign to make people aware of the accident vulnerability of pets, regardless of how well they’re cared for or how careful you are as the owner.”
To raise awareness, PetSure has launched a campaign for its innovative GapOnly claims solution, which allows pet owners with insurance policies to claim damages immediately and only pay the Gap fee.
The campaign, which includes outdoor advertising, paid social media, PR and influencer channels, explores the various scenarios and mishaps pet owners face.
While the ads target a broad market of pet owners, with programmatic OOH targeting to locations near pet shops and veterinary clinics, and re-targeting via digital media.
Globally, the pet insurance market is expected to reach $39.6 billion by 2030, led by Europe and the US. However, an increase in companies offering pet insurance coverage in Australia is helping to spur growth. New additions include supermarkets Coles and Woolworths, health insurance providers Bupa and Medibank, and specialist pet insurance companies Petsy and Pet Insurance Australia.
