Meeting market demand: how pet insurance can differentiate your brokerage
How integrating pet insurance into your brokerage’s offerings can boost your competitive edge
As benefit brokers strive to meet market demand and differentiate themselves from competitors, incorporating pet insurance into their offerings can be a game-changer. The increasing popularity of pet insurance reflects a broader trend toward personalized and comprehensive employee benefits. This article explores how adding pet insurance to your brokerage’s portfolio can set you apart and why Fetch Pet Insurance is the ideal partner in this endeavor.
The growing demand for pet insurance
Pet insurance is no longer a niche product. With 70% of U.S. households owning a pet, the demand for pet-related benefits is substantial. According to the North American Pet Health Insurance Association (NAPHIA), the pet insurance sector in North America experienced a growth rate of 27.5% in 2020. This growth is driven by rising veterinary costs and the increasing number of pet owners who view their pets as family members.
Why pet insurance matters
- Attracting and retaining clients: In a competitive market, benefit brokers need to offer innovative and valuable products to attract and retain clients. Pet insurance is a unique benefit that resonates with many employees, providing financial security and peace of mind. Offering pet insurance can set your brokerage apart and make your benefits package more attractive.
- Enhancing employee satisfaction: According to a survey by Willis Towers Watson, 47% of employees consider leaving their job for better benefits. Pet insurance is a unique benefit that can significantly enhance employee satisfaction. Employees who feel their needs and the needs of their pets are being met are more likely to stay with their employer.
- Reducing financial stress: Unexpected veterinary bills can be a major financial burden. A single emergency vet visit can cost anywhere from $800 to $1,500, with some treatments costing even more. By offering pet insurance, employers can help alleviate this financial stress for their employees, allowing them to focus on their work and reducing their stress levels.
How Fetch Pet Insurance can differentiate your brokerage
Fetch Pet Insurance stands out as a premier provider, offering comprehensive coverage that can significantly enhance your benefits offering. Here’s how Fetch makes it easy to add pet insurance to your portfolio:
- Simple, no-cost addition: Fetch pet insurance is a simple, no-cost way to increase the value of your benefits portfolio and retain employer business. This straightforward integration ensures you can offer valuable benefits without additional costs.
- Commission and fees: Fetch offers commissions on new and renewal policies to appointed Property & Casualty (P&C) brokers or a flat marketing fee for non-P&C brokers, such as Life & Health agents. This flexibility ensures that all brokers can benefit financially from including pet insurance in their portfolio.
- Marketing support: Fetch provides marketing materials and one-to-one support to help you streamline onboarding, keep your employer engaged, and drive participation. This comprehensive support ensures that adding pet insurance to your offerings is seamless and effective.
- Flexible enrollment: With Fetch, there are no deadlines or open enrollment periods — new groups can launch year-round. This flexibility allows you to offer pet insurance to clients at any time, making it easier to meet their needs.
Comprehensive broker support from Fetch
One of the standout features of Fetch Pet Insurance is the unparalleled support it provides to brokers. Whether you are an established broker looking to expand your offerings or a new broker aiming to build your book of business, Fetch is committed to your success.
- Support for brokers: Brokers can benefit from Fetch’s extensive resources and dedicated support team. Fetch offers training sessions, detailed product information, and ongoing assistance to help you integrate pet insurance seamlessly into your existing portfolio. This support ensures that you can effectively communicate the value of pet insurance to your clients and maximize your sales potential.
- Marketing and sales tools: Fetch equips brokers with a range of marketing and sales tools designed to simplify the process of selling pet insurance. From customizable marketing materials to client presentation templates, Fetch ensures you have everything you need to effectively promote pet insurance to your clients.
- Dedicated account managers: Fetch assigns dedicated account managers to work closely with brokers, providing personalized support and guidance. These account managers are available to answer questions, assist with complex cases, and offer strategic advice to help you grow your business.
Including pet insurance in your brokerage’s offerings is a strategic move that can set you apart in a competitive market. Fetch Pet Insurance offers comprehensive and customizable plans that meet the growing demand for pet-related benefits. By partnering with Fetch, you can enhance your benefits portfolio, attract and retain clients and provide valuable support to employees.
Fetch makes it easy to integrate pet insurance into your offerings with no-cost additions, flexible enrollment and comprehensive marketing support. This innovative benefit can boost employee satisfaction, reduce financial stress and improve client retention. Consider adding Fetch Pet Insurance to your benefits portfolio today and experience the positive impact it can have on your business and your clients. Visit our employee benefits page to get started.
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The Dig, Fetch Pet Insurance's expert-backed editorial, answers all of the questions you forget to ask your vet or are too embarrassed to ask at the dog park. We help make sure you and your best friend have more good days, but we’re there on bad days, too.
