The pet insurance industry has become one of the fastest growing lines worldwide, but with rapid growth has come growing pains. Insurers face relentless veterinary fee inflation, driven by advanced treatments, supply chain consolidation, and inconsistent pricing from practices. Data, the lifeblood of effective insurance, remains the sector’s biggest challenge – lack of data visibility and availability in claims systems, poor invoice standardisation, and limited visibility on treatment patterns make accurate underwriting and pricing difficult.

Insurer interactions with veterinary practices add further complexity, with a lack of transparency in billing, compliance issues, and friction in claims handling compounding these challenges and driving up costs. Compared with more established markets like Motor and Home, pet insurance lacks the maturity and insights needed to predict risks, manage volatility, and plan for the future. The result is a sector full of opportunity but weighed down by structural weaknesses.

Procurato helps insurers turn this around. Having worked with pet insurers worldwide, we unlock the value of fragmented data and drive pet insurance claims performance improvements – from targeted audits to full transformation projects. Our deep insurance expertise and delivery focus enable clients to reduce volatility, improve customer outcomes and build a sustainable competitive advantage.