UK pet insurance breaks the billion pound barrier
(PRWEB)
Aquarium warns the sector risks hard-won gains if premiums are raised ten per cent this year, and argues that technology is delivering savings when consumer confidence remains so fragile. With inflation at 2.9 per cent; interest rates already raised a fraction and set on an upward course; and the 22 November budget just around the corner, the pet insurance sector is unlikely to prove immune from stormy trade winds predicted ahead.
"Everyone connected with pet insurance will welcome these latest figures released, but we can't be complacent and more must be done to keep the market on an upward trajectory," said
There is undoubtedly still a major untapped pet insurance market out there and many commentators believe the industry must still do more to encourage greater take-up, particularly as inflation continues to outpace wages and consumers have less and less disposable income to spend. The 42 per cent of owners who have never had pet insurance (according to YouGov research commissioned by
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