2025年北美宠物健康保险协会行业状况报告

NAPHIA State o f the Industry Report © April 22, 2025The 2025 NAPHIAState of the Industry ReportTABLE OF CONTENTSHighlights:Key North American BenchmarksSection 1:Introduction and MethodologySection 2:Gross Written PremiumSection 3:Number of PetsSection 4:Average Annual PremiumsSection 5:Pets and GWP DistributionSection 6:ClaimsAbout NAPHIA NAPHIA State o f the Industry Report © April 22, 2025Key North AmericanBenchmarksHIGHLIGHTS NAPHIA State o f the Industry Report © April 22, 2025Key North American Benchmarks*ShowninUSD* NAPHIA State o f the Industry Report © April 22, 2025Key North American BenchmarksPet Insurance Market (U.S.) NAPHIA State o f the Industry Report © April 22, 2025Key North American BenchmarksPet Insurance Market (Canada) NAPHIA State o f the Industry Report © April 22, 2025Key North American BenchmarksIn-Force GWP (North America)(USD in millions)2020202120222023$2,174.9$2,837.3$3,505.5$4,264.8 $0.0$1,000.0$2,000.0$3,000.0$4,000.0$5,000.0$6,000.0 YEAR-OVER-YEAR VARIANCE20.8%increase from 2023 to 202421.7%increase from 2022 to 202323.5%increase from 2021 to 202230.5%increase from 2020 to 202126.8%increase from 2019 to 20202024$5,151.7 NAPHIA State o f the Industry Report © April 22, 2025Introductionand MethodologySECTION #1 NAPHIA State o f the Industry Report © April 22, 2025Introduction and MethodologyThe North American Pet Health Insurance Association (NAPHIA) is pleased to present the 2025 NAPHIA State of the Industry Report(SOI Report).NAPHIA State of the Industry data is estimated to represent approximately 99% of the written pet health insurancepremium in the U.S. and Canada.The objective of the SOI Report is to provide a thorough understanding of the size of the North American Pet Health Insuranceindustry and monitor its performance and growth in key areas. The SOI Report also aims to provide participants with acomprehensive and credible benchmarking tool.The following products are monitored in the NAPHIA SOI Report:•Accident Only:Foreign body ingestion, lacerations, motor vehicle accident, ligament tears, poisoning, etc.•Accident & Illness:Accident benefits plus illnesses such as cancer, infections, digestive problems, etc.•Insurance with Embedded Wellness:Comprehensive plans that may include vaccinations, early screening diagnostics,consultations for proper nutrition, dental care, etc.•Endorsements:Riders such as wellness or cancer endorsementsEach year, NAPHIA conducts an industry-wide survey and gathers key publicly available information about the marketplace. Thisdata is then aggregated and analyzed to produce a set of established benchmarks and statistics which are incorporated into ourCertain reported information is based solely on data provided by NAPHIA members. However, not all of the information in theSOIReport relates to pets enrolled by NAPHIA members. For that information, we rely on publicly-available data, and, where necessary,we make assumptions that we consider reasonable.The data in this SOI Report is compiled by Willis Towers Watson, an independent third-party organization that manages the collectionand compilation of the survey data. The data is reviewed in detail and reasonableness tests are conducted to ensure that thedata isreported accurately. Follow-ups with participants are also conducted to validate certain findings.DISCLAIMER:NAPHIA andWillis Towers Watson assume no liability of any kind regarding the information contained in the SOIReport, or the accuracy of the information received during the scope of the research.The information in this SOI Report does notconstitute investment, legal, accounting, or tax advice. 9NAPHIA SOI Report. NAPHIA State o f the Industry Report © April 22, 2025AggregateResultsCompiled“In-Force data” is based on End-of-Year (EOY) results as at December 31, 2024, as submitted in thesurvey questionnaire/data call and supplemented by data from publicly-available sources. In-Force GWPand Total Insured Pets data are as at December 31, 2024.Unless otherwise indicated, all dollar amounts in this reportare expressed in the country’s currency from 2020 to 2024=USDIntroduction and Methodology =CAD10 NAPHIA State o f the Industry Report © April 22, 2025Gross WrittenPremiumSECTION #2 NAPHIA State of the Industry Report © April 22, 2025The total premium volume in the U.S., as reported by NAPHIA members and public sources, amounted to about$4.7 billion at year-end 2024.The U.S. market continues to experience double-digit increases; however, the growth has slowed the past 2years and remained steady in 2024 with a YoY variance of 21.4%.The 5-year average growth is 25%.In-Force GWP (U.S.)(USD in millions) 1221.4%increase from 2023 to 202421.4%increase from 2022 to 202324.2%increase from 2021 to 202230.4%increase from 2020 to 2021 NAPHIA State o f the Industry Report © April 22, 2025In-Force GWP, Dogs and Cats (U.S.)(USD in millions)GWP for insured dogs represented 86.1% of the total U.S. volume in 2024GWP for insured cats repres