Online retailer Kogan has signed an agreement with PetSure Australia, marking further expansion into the insurance space.
The deal allows Kogan to distribute and promote pet insurance policies under a new brand “Kogan Pet Insurance”. In a statement, Kogan said it will earn commission on each pet insurance policy issued.
“Pet insurance is a growing insurance category in Australia, and we are very happy to have reached another win-win-win partnership, enabling us to deliver great value and a variety of pet insurance products to our community,” said David Shafer, executive director of Kogan.
According to Kogan, the retailer will offer an affordable range of pet insurance products to its community of shoppers. The offering is underwritten by Hollard and administered by PetSure. It is expected to launch by the second half of this financial year.
Some 63% of Australian households own a pet, according to Magdoline Awad, PetSure’s chief veterinary officer. A study by the firm found that more pets are undergoing humanlike health procedures as their owners strive to keep them happy and healthy – these include MRIs and CT scans.
According to PetSure, claims for MRIs have increased from a value of $180,000 in 2010 to $680,000 in 2015. CT scans for pets have also grown more popular, increasing from a value of $200,000 in 2010 to $1.35 million in 2015.
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