Economic and Veterinary Evaluation of Pet Insurance in Türkiye: Potential, Role in Health, and Impact on Practice.
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| Název: | Economic and Veterinary Evaluation of Pet Insurance in Türkiye: Potential, Role in Health, and Impact on Practice. |
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| Autoři: | GENÇGÖNÜL, Betül Zehra1 betul.zehra@hacettepe.edu.tr |
| Zdroj: | Kafkas Üniversitesi Veteriner Fakültesi Dergisi. Jan/Feb2026, Vol. 32 Issue 1, p147-153. 7p. |
| Druh dokumentu: | Article |
| Author-Supplied Keywords: | Animal welfare Companion animals Healthcare access Pet insurance Veterinary medicine |
| Abstrakt: | Pet insurance has emerged as a critical financial tool in developed markets for both animal health management and veterinary practice sustainability, driven by rising global pet ownership, increasing veterinary costs, and extended companion animal lifespans. Insurance mitigates financial barriers for pet owners, improves access to services, and reduces the risk of economic euthanasia. The benefits extend to veterinarians, too, by facilitating treatment decisions and thus strengthening the client-veterinarian relationship. However, despite high adoption rates in countries like Sweden and Germany, the market formation in Türkiye is in its infancy, characterized by limited penetration and public awareness. This study aims to evaluate the potential economic and veterinary outcomes of introducing pet insurance in Türkiye using a scenario-based simulation approach. Three scenarios were developed according to different microchipping and market penetration assumptions. Insurance products currently offered in Türkiye were examined to determine three representative premium levels, which were applied across scenarios to estimate Gross Written Premium, expected claims, and technical profitability. Analyses indicate that even a 5% penetration rate could generate an annual Gross Written Premium volume exceeding TRY 400 million. The findings highlight the insurance's potential to support the financing of the veterinary sector, expand preventive care, and enhance owner affordability. From a welfare perspective, insurance adoption can improve early diagnosis and reduce treatment abandonment, thereby elevating animal welfare. The research underscores the dual economic and ethical role of insurance as both a market instrument and a public good in animal health management. Ultimately, the study points to the need for awareness campaigns and supportive policy frameworks for the future development of the Turkish market. [ABSTRACT FROM AUTHOR] |
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| Author Affiliations: | 1Hacettepe University, Department of Actuarial Science, TR-06800 Ankara - TÜRKİYE |
| ISSN: | 1300-6045 |
| DOI: | 10.9775/kvfd.2025.35629 |
| Přístupové číslo: | 191676597 |
| Databáze: | Veterinary Source |
| Abstrakt: | Pet insurance has emerged as a critical financial tool in developed markets for both animal health management and veterinary practice sustainability, driven by rising global pet ownership, increasing veterinary costs, and extended companion animal lifespans. Insurance mitigates financial barriers for pet owners, improves access to services, and reduces the risk of economic euthanasia. The benefits extend to veterinarians, too, by facilitating treatment decisions and thus strengthening the client-veterinarian relationship. However, despite high adoption rates in countries like Sweden and Germany, the market formation in Türkiye is in its infancy, characterized by limited penetration and public awareness. This study aims to evaluate the potential economic and veterinary outcomes of introducing pet insurance in Türkiye using a scenario-based simulation approach. Three scenarios were developed according to different microchipping and market penetration assumptions. Insurance products currently offered in Türkiye were examined to determine three representative premium levels, which were applied across scenarios to estimate Gross Written Premium, expected claims, and technical profitability. Analyses indicate that even a 5% penetration rate could generate an annual Gross Written Premium volume exceeding TRY 400 million. The findings highlight the insurance's potential to support the financing of the veterinary sector, expand preventive care, and enhance owner affordability. From a welfare perspective, insurance adoption can improve early diagnosis and reduce treatment abandonment, thereby elevating animal welfare. The research underscores the dual economic and ethical role of insurance as both a market instrument and a public good in animal health management. Ultimately, the study points to the need for awareness campaigns and supportive policy frameworks for the future development of the Turkish market. [ABSTRACT FROM AUTHOR] |
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| ISSN: | 13006045 |
| DOI: | 10.9775/kvfd.2025.35629 |