{"id":90572,"date":"2021-08-30T18:02:51","date_gmt":"2021-08-30T18:02:51","guid":{"rendered":"https:\/\/www.similarweb.com\/corp\/?p=90572"},"modified":"2025-03-25T08:07:13","modified_gmt":"2025-03-25T08:07:13","slug":"pet-insurance-industry","status":"publish","type":"post","link":"https:\/\/www.similarweb.com\/blog\/ecommerce\/retail-insights\/pet-insurance-industry\/","title":{"rendered":"7 Expert Tips to Win in the Pet Insurance Industry"},"content":{"rendered":"

Soaring pet ownership and adoptions have created a market opportunity<\/a> for businesses in the pet insurance industry. Multiple startups, as well as generalists like Geico (which teamed up with Embrace, a long-standing pet insurance provider), have launched pet services in the past two years, making the space much more competitive as it increases in market size<\/a>.<\/p>\n

To help navigate this burgeoning industry, we used Similarweb Web Intelligence<\/a> to analyze pet insurers in the U.S. Our competitive set includes Nationwide (under petinsurance.com<\/a>), Pet Plan, Figo, Pet First, ASPCA Pet Insurance, Trupanion, Healthy Paws, Pets Best, Embrace, and newer providers like Pumpkin and Spot Pet Insurance.<\/p>\n

\"pet<\/p>\n

Dig into our seven tips to become the top dog in the pet insurance industry.<\/p>\n

1. Move toward mobile<\/h2>\n

According to a recent study, Americans 18-34 years old are the most likely of all age groups to own a pet, and pet insurers need to cater to this highly mobile generation.<\/p>\n

In the first seven months of 2021, the pet insurance industry’s growth of mobile device traffic exceeded that of desktop devices by nearly 20 percentage points (ppts) year-over-year (YoY) \u2013 a 61% growth vs. 42% in 2020.<\/p>\n

We suspect that the age and mobile affinity of the industry’s target audience contributed to the rapid growth of Lemonade\u2019s pet insurance offering. Its overall web visitors\u2019 demographics<\/a> skew more toward a younger audience than veteran pet insurance companies like Nationwide, Trupanion, and Healthy Paws.<\/p>\n

\"Pet<\/p>\n

Lemonade<\/a> also has a top-performing mobile app<\/a>. On June 1, 2020, around the time of its pet insurance launch, its Apple app store download ranking<\/a> (86), surpassed that of leading insurance provider Nationwide (174).<\/p>\n

<\/div>\n\n

Prior to launching pet insurance, the insurtech company was most known for Life and Renters insurance. Just over a year after launching its pet offering, the related subfolder (lemonade.com\/pet<\/strong>) now attracts 8.9% of traffic share<\/a>, which is more than Life (lemonade.com\/life<\/strong>), at 5.27%, and Renters (lemonade.com\/renters<\/strong>), at 0.12% – indicating that Lemonade\u2019s demographics and mobile attributes helped seize pet insurance industry market share<\/a>.<\/p>\n

<\/div>\n\n

2. Create paw-some content to drive organic traffic<\/h2>\n

Direct and organic channels nearly tie as top marketing channels<\/a> to generate web traffic<\/a> for the competitive set, accounting for 41.7% and 41.3% of their traffic share respectively, over the past year.<\/p>\n

In 2020, traffic share to direct channels exceeded organic channels by 3 ppts. This year the gap is just 0.4 ppts, down 2.6 ppts, showing it\u2019s crucial to create strategic organic content to generate visitors and build overall brand awareness<\/a>.<\/p>\n

Therefore, allocate resources to your blog or knowledge center. Pumpkin, a pet insurance company, launched by large animal vaccine maker Zoetis, Inc.<\/a>, in spring 2020, appears to do this effectively \u2013 nine of its top organic pages drive traffic to its blog. Its homepage, ranked third, is the only exception.<\/p>\n

\"Pet<\/p>\n

3. Target new pet parent audiences<\/h2>\n

Targeting anticipatory pet parents is key to building brand awareness and lifetime loyalty<\/a> (in both dog and human years). After all, who wants to switch insurance providers with a pre-existing condition?<\/p>\n

Also, those using breeders may take months to get off of waiting lists<\/a>. Once born, consumers need to wait for another eight weeks for the puppy to be old enough to take home.<\/p>\n

Pro tip: Leverage pet naming<\/h3>\n

Keywords relating to pet names comprise one theme very popular with this target audience<\/a>. In the past year (August 2020 – July 2021) more than half of the top 10 organic, non-branded keywords based on traffic share in the U.S. related to pet names, including:<\/p>\n