Exploration of the Development of Pet Insurance
In order to analyze the development process of pet insurance and provide basis for further development of pet insurance in China, the origin and development of pet insurance were firstly elaborated, and the application scope and current situation of pet insurance in foreign countries were clarified. A comparative analysis of the development and existing problems of pet insurance in China was made, and the awareness of pet insurance of Chinese breeders was investigated by means of questionnaires. Moreover, the problems existing in the development of pet insurance in China were summarized, and reasonable suggestions were put forward. It is found that the current international pet insurance market is still dominated by the United States, Europe and Japan, while the United States, Sweden, the United Kingdom and Japan are several countries with relatively developed premium scale in the field of pet insurance, and pet medicine in China started late and is still in the stage with slow development. In recent years, with the improvement of people's living standards, the pet market has gradually risen, and pet medical insurance has slowly shown its potential market development strength. The types of pet insurance in China are mainly divided into pet medical insurance, pet death insurance and third-party liability insurance. However, China's pet insurance still has many problems, such as imperfect legal system, single insurance company and lack of competitiveness, and high requirements for participation, which lead to the development of pet insurance has been stagnant. In addition, the results of questionnaires showed that 77.8% of people were willing to take the pets to a regular hospital or clinic for treatment when the pets were sick. The reason why other owners chose self-treatment was that the hospital spent too much, the distance was too long or they thought they could cure their pets. 75.1% thought that the medical expenses of pets would not bring economic burden, but 24.9% believed that the medical expenses of pets would aggravate the family's financial burden. The survey also showed that 18.9% of people purchased insurance for pets, and 50.8% were willing to consider handling pet insurance even though they have not purchased it. To sum up, pet insurance in China has a very broad development prospects, but this requires the gradual improvement of laws, regulations and policies in China. In addition, insurance companies need to invest more manpower and financial resources to develop more comprehensive and diversified insurance products. At the same time, more and more people should be willing to understand the advantages of pet insurance and promote the development process of pet insurance in China.