NAICS Code 524298-16 - Insurance-Pet

Marketing Level - NAICS 8-Digit

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Total Verified Companies: 8
Contact Emails: 130
Company Websites: 8
Phone Numbers: 6
Business Addresses: 8
Companies with Email: 4
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NAICS CODE 524298-16
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NAICS Code 524298-16 Description (8-Digit)

Insurance-Pet is a subdivision of the NAICS Code 524298 that involves providing insurance coverage for pets. This industry provides coverage for veterinary expenses, accidental injuries, and illnesses that may occur to pets. The insurance policies offered by companies in this industry are designed to help pet owners manage the cost of unexpected veterinary bills. Insurance-Pet companies offer a range of policies that cater to different types of pets, breeds, and ages.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 524298 page

Tools

Tools commonly used in the Insurance-Pet industry for day-to-day tasks and operations.

  • Pet insurance software
  • Claims management software
  • Customer relationship management (CRM) software
  • Underwriting software
  • Policy management software
  • Risk assessment tools
  • Actuarial software
  • Fraud detection software
  • Payment processing software
  • Data analytics tools

Industry Examples of Insurance-Pet

Common products and services typical of NAICS Code 524298-16, illustrating the main business activities and contributions to the market.

  • Pet health insurance
  • Pet accident insurance
  • Pet illness insurance
  • Pet surgery insurance
  • Pet dental insurance
  • Pet cancer insurance
  • Pet emergency insurance
  • Pet wellness insurance
  • Pet liability insurance
  • Pet travel insurance

History

A concise historical narrative of NAICS Code 524298-16 covering global milestones and recent developments within the United States.

  • The "Insurance-Pet" industry has its roots in the United Kingdom, where the first pet insurance policy was sold in 1947. The industry grew slowly in the UK and the US until the 1980s when it began to gain popularity. In 1982, Veterinary Pet Insurance (VPI) was founded in the US, becoming the first pet insurance company in the country. In the early 2000s, the industry experienced significant growth, with more companies entering the market and offering a wider range of policies. In 2019, the global pet insurance market was valued at $4.5 billion, with North America accounting for the largest share of the market. In recent history, the "Insurance-Pet" industry in the US has continued to grow steadily. In 2019, the North American pet insurance market was valued at $1.42 billion, with the US accounting for the majority of the market share. The industry has seen an increase in the number of companies offering pet insurance policies, as well as an increase in the number of policies sold. In 2020, the COVID-19 pandemic led to a surge in pet adoptions, which in turn led to an increase in demand for pet insurance policies. The industry is expected to continue to grow in the coming years as more pet owners become aware of the benefits of pet insurance.