First Annual Pet Health Insurance Research Report

Reading, PA (PRWEB) May 22, 2013

Paradigm2, a global research services and consulting firm recently released its first annual Pet Health Insurance Research Report.

The 50-page report details recently-conducted research that examined the decision making, attitudes, beliefs, and behaviors of a sample of U.S. pet owners who were in the process of researching and shopping for pet health insurance.

“We wanted to better understand the buying behavior of pet owners in this emerging and unique market,” explained Wil Readinger, CEO of Paradigm2. “This study sheds light on the emotional drivers, cognitive motivations, and decision making of pet owners who are considering pet health insurance for their dogs and cats.”

A mixed-methods approach was taken in this research. First, an online survey was made available to actively-shopping consumers for a period of approximately 16 weeks. In addition to the survey, an in-depth qualitative follow-up study was conducted. This follow-up took the form of individual interviews using a modified cognitive task analysis method where eight pet owners were interviewed individually.

The report includes detailed analyses, charts and tables that identify – and quantify - what matters most to U.S. pet owners when it comes to pet health insurance. Some of the questions answered by the report include:

   •  What was the most important reason behind the decision to purchase (or not purchase) insurance
   •  Why did they choose their current provider?
   •  What are their current unmet needs?

Paradigm2 partnered with the leading 3rd party pet insurance websites: Petinsurancereview.com and Petinsurancequotes.com.

“By partnering with Petinsurancereview.com and Petinsurancequotes.com we were able to survey and measure cognition and behavior during the buying process,” said Readinger. “These two sources are independent, so the study results are based on a very diverse and representative sample of pet owners in the United States."

Conclusions from the research lead Paradigm2 to construct a roadmap of the pet owner’s experience, from awareness to purchase and follow-up, that may be used to influence industry decision-making with regard to addressing unmet needs of pet owners and better understanding how and why individuals make decisions about the purchase of a policy.

“Anybody involved in the insurance or pet services industry will gain a lot of valuable insight and actionable data from this study. We hope it can contribute to greater customer satisfaction, and even more growth in the size and scope of this industry.”

About Paradigm2
Paradigm2 offers market research services and consulting to small and medium-sized businesses across the country and around the world. We apply cutting-edge cognitive science to the research needs of your business.

Read the full story at http://www.prweb.com/releases/2013/5/prweb10755896.htm