5年增长33倍，这类新险种卖爆了

Core Insights - The pet market in China is experiencing explosive growth, with the number of pet cats and dogs expected to exceed 120 million by 2024, leading to a market size surpassing 300 billion yuan [1] - The pet medical market is projected to grow from 30.3 billion yuan in 2021 to 78.9 billion yuan by 2026, at a compound annual growth rate of 21.1% [1] - The pet insurance premium scale has increased dramatically from approximately 5 million yuan in 2020 to 1.7 billion yuan in 2024, indicating a 33-fold growth over five years [1][10] Pet Insurance Market Overview - Among 89 property insurance companies, 33 have entered the pet medical insurance sector, offering over 100 products, with around 90 currently available for sale [2] - ZhongAn Online has seen a significant increase in pet insurance premiums, with a year-on-year growth of 129.5% in 2024, surpassing 1 billion yuan in total premiums [5] - Major insurance companies like PICC, Ping An, and Taikang are actively participating in the pet insurance market, while over 50 companies remain cautious and have not launched related products [5][11] Growth Potential and Challenges - The pet insurance market is expected to exceed 3 billion yuan by 2025, following a consistent growth trend [10] - The rapid growth of pet insurance is driven by the increasing demand for pet medical services, as pet owners face high treatment costs [6][9] - However, the industry faces challenges such as high claims costs due to non-standardized medical practices and fraudulent claims, which can exceed 20% of total costs [17][22] Product Offerings and Consumer Experience - The current pet insurance products are relatively homogeneous, often covering accident and illness medical expenses with varying reimbursement rates [20][21] - There is a notable disparity in claims experiences among pet owners, with some reporting smooth claims processes while others face significant challenges [15] - The lack of industry standards leads to significant cost variations for the same treatment across different regions and providers, complicating pricing strategies for insurers [22] Future Directions - The industry recognizes the need for better collaboration among insurance companies, veterinary hospitals, and pharmaceutical companies to enhance service quality and cost control [22] - Establishing a standardized pet medical directory is seen as crucial for the sustainable development of the pet insurance market, facilitating a win-win scenario for hospitals, insurers, and customers [22]