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Digit Insurance, a new age digital general insurance start-up, has launched a pet insurance product in the Indian market in partnership with Vetina, a US-based company, a top official said.
“Initially, it will be a reimbursement product and over period of time we want it to go more and more on cashless,” Kamesh Goyal, Founder and Chairman, Digit Insurance told BusinessLine .
With this launch, Digit is among a select group of private insurers offering pet insurance in the country.
Goyal said that ‘Vetina’s Pawtect Plan, powered by Digit Insurance’ is now being offered as insurance for pet dogs.
Only dogs for now
The product offers three different plans divided under categories — Silver, Gold and Platinum — that covers major illness, accidental injury cover, third party liability cover (any bodily injury or damage to third party property) depending on the plan one chooses to buy.
“We have started only with dogs. Our research shows that in India cats are not that popular. Over a period of time we will start offering cover for cats also,” he said.
Pets getting popular
Goyal highlighted that pet insurance is already popular in UK, Australia and Canada. Also, recent social trends suggest that more people above 60 years have begun keeping pets at home.
“People are now ready to spend more on their pets and this is reflected in the increased number of good hospitals for pets, spas for dogs and more branded pet food players,” he noted.
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