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Kogan to launch pet insurance

dogA week after launching health insurance for humans founder and chief executive Ruslan Kogan has moved to target their furry friends, launching a pet insurance offer.

Kogan has extended its partnership with The Hollard Insurance company to roll-out the service with the finance firm’s subsidiary PetSure, which it will promote and distribute in return for a commission on policies sold.

Hollard will underwrite the business, as it does with Kogan car, home, contents, landlord and travel insurance, while PetSure will administer the offer.

The deal is just the latest in a long line of service verticals Kogan has invested in over the last twelve months, including mobile, internet and travel, after signalling a strategy to leverage the Kogan brand and its customer data to enable a wide-ranging business model.

Moving into pet insurance will also allow Kogan to capitalise on growing demand in pet-related industries as consumers begin to spend more on their animals.

Animal Medicines Australia (AMA) research from earlier this year found that more than $12.2 billion is being spent on pet products and services each year, up 42 per cent since 2013. executive director David Shafer said the partnership was a “natural extension” to Kogan’s existing insurance business.

“We are excited to partner with PetSure, the clear leader in the Australian pet insurance market, to offer an affordable range of pet insurance products to our growing community of smart shoppers,” he said.

“Pet insurance is a growing insurance category in Australia, and we are happy to have reached another win-win-win partnership, enabling us to deliver great value and a variety of pet insurance products to our community.”

Kogan’s other service verticals are growing faster than the pure-play retailer had expected, with FY17 results showing that its travel and mobile businesses grew by 6.9 per cent and 3.9 per cent respectively.

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