Whether it’s man’s best friend, or labrador’s worst enemy, pet owners have a tendency to obsess over their furry friends’ welfare; a disruptive tech startup wants to put their worst fears about their pets to bed.
Bought by Many, an insur-tech disruptor, raised £7.5 million in January this year, in a round led by Octopus Ventures, to help them launch a new range of branded insurance products, and after careful consideration, the startup is targeting pet owners.
Bought By Many say that they looked at 40,000 pieces of customer feedback from pet owners who had taken out policies, after helping 265,000 customers win better deals from existing insurance providers.
Pet owners, it transpires, are not happy about the insurance they are currently receiving; the most common gripes include premiums that jump after the first year of cover, and continue to increase over the life of their pet; not being offered any “no claims” bonus; and struggling to swap insurers or obtain cover for pets with a pre-existing medical condition.
Bought By Many to the rescue! The firm have “un-leashed” 3 new products containing features that no other insurers can match, they say.
The Fixed For Life deal provides £20k of cover over the course of the pet’s life, at a guaranteed price that can be locked in – no sudden hikes or hidden cost; the Money Back offer returns 20% of a customer’s premium payments for each year they do not claim, and Pre-existing, says Bought By Many, is “the only pet insurance policy that includes cover for a pet’s existing medical conditions straight away”, and enables switching!
But that’s not all – conventional pet insurance, starting at £10 per annum for dog owners, is also available, as well as “Value”, “Regular” and “Complete” packages which can be tailored to the individual pet – no dental insurance, for example, no worries!
But remember folks, insurance starts at home. Be good to your poodles, Shitzus, Pomeranians and Siamese and they will help you save money. Maybe. If they feel like it.
And don’t expect miracles – the “Pooper-Scooper” and bath-times are still very much your responsibility!
The burning question that HHH would like to answer is this: are Bought By Many offering free trials of their new products to Guinea Pigs? (It’s Wednesday and you’re tired – we’ll let that go – Ed)