Employee Benefits

Meeting market demand: how pet insurance can differentiate your brokerage

How integrating pet insurance into your brokerage’s offerings can boost your competitive edge.

Samantha McKinnon

March 7, 2024

minute read

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.

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.

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Pet insurance sector growth rate of 27.5% according to North American Pet Health Insurance Association (NAPHIA). (2020). "2020 State of the Industry Report."

70% of U.S. households owning a pet as of 2021 according to the American Pet Products Association. (2021). "APPA National Pet Owners Survey Statistics: Pet Ownership & Annual Expenses."

34% of employees who are satisfied with their benefits are more likely to stay with their current employer according to Willis Towers Watson. (2019). "2019 Benefits Trends Survey Report."

Average cost of emergency veterinary care ranges from $800 to $1,500 according to the American Veterinary Medical Association. (2020). "Veterinary Economics: Cost of Care."

This information is descriptive only. Policy activation periods, risk free cancellation terms, waiting periods, limitations, exclusions to coverage and other terms and conditions vary by state and are subject to change without notice. Please see your policy for full terms and conditions of coverage. If there is any conflict between the policy and this product information, the provisions of the policy shall prevail.

Fetch insurance policies are administered by Fetch Insurance Services, LLC (d/b/a Fetch Pet Insurance, Fetch Pet Insurance Services in New York and British Columbia, Fetch Insurance in Nebraska, Fetch Pet Insurance Services, LLC in Michigan, North Dakota, New Mexico and California) CA license # 0F60627 and underwritten by XL Specialty Insurance Company, a Delaware Corporation, or AXIS Insurance Company, an Illinois Corporation, in the U.S. and AXIS Reinsurance Company (Canadian Branch) in Canada. For more information, visit fetchpet.com. ©️2024 Fetch, Inc.

Discounts and offers are subject to approval and may change at any time. Maximum available discount is 10% and may not be available in all states and is not valid with any other offer. Charitable donations offer not available in AK, HI, ID, IN, KS, ND, NY, RI, SC, or TX, limited to $15 in AL and $10 in MI and UT. For policies purchased in LA or NH, the installment fee is waived for the first payment and applied to all remaining payments.

Most comprehensive and most extensive coverage according to Consumers Advocate, January 2023. Based on a comparison of injury and illness coverage between Fetch and North American pet insurance providers on consumersadvocate.org. Consumers Advocate is a Fetch partner. Best pet insurance according to Consumer Rating, August 2023. Based on a comparison of top pet insurance companies on consumerrating.org. Consumer Rating is a Fetch partner. MarketWatch, NerdWallet, Forbes Advisor and Rover are Fetch partners. Unmatched according to The Dodo, May 2022.

Fetch is a registered trademark owned by Fetch, Inc. Fetch Wellness is insurance coverage added by endorsement to the core injury and illness policy, if purchased. It is not a “Wellness Program” meaning a subscription or reimbursement-based program that is separate from an insurance policy.

Average monthly premiums are based on U.S. annual premiums, using a 12-month average, for the period of 01.01.2022 through 12.31.2022 and all available limit combinations. Exam fees based on average costs. Policies in force and number of pets helped based on Fetch data as of 10.12.2023.