Winnipeg, Canada, July 17, 2014 --(PR.com
)-- The North American Pet Health Industry Association (NAPHIA) has just released its first-ever Industry Insiders’ Report, with data gathered from key players in the pet health insurance industry.
“For those outside pet health insurance, this report has incredible value because it includes private data, such as individual gross written premium, that has never been released before,” says Dennis Rushovich, President of NAPHIA’s Board of Directors.
“We interviewed our members—which represent more than 85% of in-force policies in North America—so that we could produce the most comprehensive, yet succinct overview of the North American pet health insurance sector available today,” says Kristen Lynch, NAPHIA’S Executive Director. She points out that the leadership of NAPHIA member companies have not collectively shared information with any outside research firms these past several years in anticipation of the Industry Insiders’ Report. “For those who need to understand the true state of the marketplace, there is simply no other source as credible,” she adds.
The report is clear and concise, offering exclusive excerpts and private data from NAPHIA’s proprietary State of the Industry Benchmarking Report (2014). With data from 2008-2014, it provides actual results and long-term trends never before accessible. “It’s the big picture and context that this provides that is truly unique,” adds Lynch. “Even our own members will be seeing real performance data on their competitors for the first time.” In addition, NAPHIA has incorporative quantitative findings from a survey of more than 1,000 North American pet owners about their understanding of, and interest in, coverage. “The survey gives us unprecedented insight into consumer attitudes toward pet insurance in general vs. specific brands,” says Lynch.
“The fact that this report was developed by people with direct, hands-on knowledge of pet health insurance makes all the difference,” said Stephanie Croquez, Vice President of Business Development for Global Pet Plus, the report’s sponsor. “That gave us the assurance that it would have the kind of quality and validity that we want to be associated with. We know it will be attractive to companies both within the pet health and lifestyle marketplace, and market analysts.”