1、Pet insurance:market activity,trends and key issuesCasualty Actuarial Society Annual MeetingNovember 8,2021Presented by Morgan Butz and Brian ChiarellaPage 2DisclaimersEY refers to the global organization,and may refer to one or more,of the member firms of Ernst&Young Global Limited,each of which is

2、 a separate legal entity.The views expressed by the presenters are their own and not necessarily those of Ernst&Young LLP or other members of the global EY organization.These slides are for educational purposes only and are not intended to be relied upon as accounting,tax,legal or other professional

3、 advice.Please refer to your advisors for specific advice.Page 3Table of contentsSection A:Pet insurance and regulationWhat is pet insurance?What else can pet insurance cover?What isnt pet insurance?Poll question 1A regulatory analogyA multi-disciplinary approach to pet insuranceRegulatory differenc

4、es by stateData sourcesSection B:Market dynamics and growthMarket size and growthAverage premiumsPoll question 2Market penetrationMarket sharesDistribution channelsSection C:Pricing,underwriting,and claimsPolicy featuresUnderwritingPoll question 3PricingAlternative approaches to age ratingLoss trend

5、sClaims and reservingSection D:Human health considerationsPlan designPricing and underwritingNetworks and cost controlFinancial reportingPoll question 4Section A:Pet insurance and regulationPet insurance:market activity,trends and key issuesPage 5What is pet insurance?Pet insurance reimburses paid v

6、eterinary costs(subject to terms)when insured pets receive health care:Insured pets are most commonly dogs and cats,but insurance coverage is available for other animals,too:ReptilesBirdsReptilesSmall mammalsAccidentsIllnessesWellnessMedicalCatsDogsWhat else can pet insurance cover?Page 6Diagnostic