New opportunities for digital adaptation of animal insurance

Digitization is also finding its way into animal insurance and has made it possible for the first providers, for example, to make a new, simple product selection possible. This makes it easier for pet owners to find the right product.

New products and better choices possible

The world of the internet also makes life easier for dog and cat owners. They can now find out about products such as health insurance for their four-legged friends, but also about tailor-made solutions. What is good for one does not necessarily have to be right for another! Therefore, there are now much more efficient offers in the Internet world of animal insurance. 

The question of what the common denominator between all dog and cat insurances was, was the key to achieving a more efficient system. Customers now only need to provide a little information and are guided directly to the products that are most suitable for them. This means that consultation hours are superfluous, and hours of reading about the advantages and disadvantages of individual insurance components are also an end.

After entering the required information, the modern insurance tool can offer tailor-made products. This means that the selected insurance or the corresponding product is precisely tailored to the needs of the animal to be insured and its owner. The innovations make it easier for the pet owner to choose the right insurance, and under- and over-insurance are rented out.

Digital tools lead to the right insurance

The animal insurance specialists who are developing the new tools have used the digital tools available to them. In doing so, they took the specific problems that a pet has as a basis and created their solutions from them. For example: a cat that is outside all day is at different risks? Accident and illness? exposed as a cat kept as an indoor cat only. Owners of cats can now decide which variant to choose when choosing the product in question. 

Based on the selection of the specific risk, further questions are asked and the appropriate selection can be made. According to this selection, the insurers are able to offer new services and display specific prices.

What sounds so simple and obvious is not at all in practice. Comprehensive and complex algorithms have been designed here that operate on the principle? If x, then y? function. The data required for this has been collected over the past few decades and has now been meticulously evaluated.
Not only should customers be offered better and tailor-made solutions for their four-legged friends, the insurers are also interested in staying up to date. Customers' expectations of comprehensive service are increasing, as are their demands for contemporary insurance for their hairy family member.

Conclusion: New insurance solutions thanks to modern technology

Modern technologies are also making the insurance industry more effective and efficient. The reason: New tools make it possible to determine insurance coverage individually. This is based on the specific risks that individual pets have. It is therefore taken into account whether the animal in question has a rather risky life or whether it is rather unlikely that it will come into contact with accident or illness triggers. 

Based on this assessment, customers and pet owners can make their selection and are shown tailor-made products that cover precisely the necessary risks. On the one hand, this prevents risks from being insured that are out of the question for the individual animal. On the other hand, the insurance cover is also adjusted in height to the special needs of each animal.

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