Core Viewpoint - The article discusses the collaboration between Ant Insurance and various academic and medical institutions to establish standardized practices in the pet insurance industry, aiming to enhance transparency and reduce unnecessary costs for pet owners [1][3][5]. Group 1: Industry Development - The pet economy in China is rapidly growing, with the number of urban pet cats and dogs expected to exceed 120 million by 2024, and the market size surpassing 3 trillion yuan [2]. - The pet medical sector faces challenges such as high costs, inconsistent pricing, misdiagnosis, and over-treatment, leading to disputes among pet owners and veterinary clinics [2][5]. Group 2: Standardization Efforts - Ant Insurance is working with Nanjing Agricultural University and New Ruipeng Medical Group to create application standards for pet medical treatment, which will be implemented in partner veterinary hospitals [1][3]. - The collaboration aims to establish a standardized diagnosis and treatment system, scientific medication guidelines, and transparent service standards to protect consumer rights [1][3]. Group 3: Claims Process Improvement - Ant Insurance's platform utilizes big data from millions of claims to analyze pet illness patterns and optimize claims review standards, promoting reasonable treatment costs and high-quality industry development [3][4]. - The "Anxin Pei" service allows for direct connection of claims materials with over 2,000 veterinary hospitals, significantly reducing manual submission and utilizing AI to shorten review times, with 98% of claims processed within three days [5][6]. Group 4: Ecosystem Collaboration - Ant Insurance aims to collaborate with medical institutions, insurance companies, and research units to enhance the ecosystem, reduce pet illnesses, and improve treatment willingness and cost rationalization [6]. - The pet insurance channel on Ant Insurance's platform has integrated products from multiple insurance companies, providing coverage for over 10 million pets [6].