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Business case

Digital pet health and liability solutions for insurance companies

Released 01 December 2020
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Two completely digital white-label insurance products for pet health and pet owner liability to target millennials and baby-boomers by ELEMENT.

ELEMENT Insurance AG


Photo of Tim Kaltofen
Tim Kaltofen
ELEMENT Insurance AG
VP - Innovation

The market for insurance products for pets and their owners is still not well developed in Germany. Especially products that deal with any kind of pet health insurance are mostly absent in the German market. This is an under-development of segment in the insurance market, because the potential is simply great, and we are looking at an EUR 230mio market with 16% average growth per anno in the next 10 years.

Pet health insurance is highly needed to obtain a state-of-the-art 360° offerings for private customers. Besides, it is a great marketing tool to strengthen existing customer relations with an emotional product but to also target new customer segments, especially millennials, baby-boomers and digital natives. Thus, ELEMENT has developed two completely digital white-label insurance products for pet health and pet owner liability for the German market, which can also be applied to other markets.

Why are there only a few pet insurance products

Why there is no sufficient insurance cover in the pet health and liability section has more than one cause. First of all, there are high setup costs and functional requirements to set up a new pet health insurance and the needed operations. Also, experts like vets are needed to draw the right conclusions in case of a claim. Moreover, tariffing and calculating the right pricing demands extraordinary efforts to take all breeds of a particular pet into account. On top, insurance products for this market are complex; hence, the product management will need extensive resources.

Building a pet health insurance that offers affordable tariffs to customers and at the same time is manageable for the staff of the insurer – actuaries, claims handling, etc. - therefore requires either a larger number of people who are working constantly on the product or advanced technical abilities to do so. To create a pet health product that keeps a larger group of specialists tied-up is not expedient for insurers and to invest heavily into tech to put this one product on the market is neither cost efficient nor wanted. 


The solution to this problem is simple: A cooperation with ELEMENT. Due to the nature of our proprietary tech-platform we were able to build a pet health insurance that is unique for the German market. We offer our pet health solution as a completely white-label product, so we can guarantee that the look-and-feel of the product will be fully in your design - for customers nothing will change.

Furthermore, we offer a smooth integration into your backend and a white-label purchase flow, so there will be only minor cost for all technical aspects. Our partner KASKO will take over this part of the integration and set-up everything within only two to four weeks. Additionally, KASKO will provide sales support regarding acquisition, campaign setup and technical onboarding of your distribution touchpoints and partners (e.g. agents, brokers, affinity partners).

This entirely digital customer journey will be the key to offer pet health and pet owner liability as a perfect 360° customer offering. It is a new tool for you to deepen your customer relations with a very (positive-) emotional product. Moreover, use pet health to approach additional market segments like GenY or GenZ.

Benefits and advantages for insurance companies

Obviously, the integration of our pet health and pet owner liability insurance into your portfolio will let you participate in one of the fastest growing segments of the modern insurance market. Secondly, you can cater to the needs of two of the largest target groups in the market – baby-boomers and millennials. Both are high-income groups who do care about their pets in a remarkable way and yet their dogs are underinsured. A curious understatement for the 4th most dog-friendliest nation of the world.

The product covers have a number of features that gives you an advantage over possible competition. Due to our modular product creation you can determine the in- or exclusion of certain criteria, e.g. decide if you want to cover fighting dogs or dog therapy sessions. With three different tariff variants – bronze, silver, gold – you can cover all your customer’s needs.

One of the biggest benefits for your insurance company is that you will have only very low costs for IT and tech related matters. However, you will get a fully digital product that is seamlessly integrated, easy to administer, allows for flexible commission and gives you the opportunity to work with discounts for loyal customers.

With ELEMENTS white-label pet health and liability solutions you will be completely in charge of handling your costumers and offer them a sustainable product with unlimited market potential. 

Model calculation: Pet Health Insurance for Dogs


What does white-label product mean?

White-label products are completely adaptable to the look-and-feel of your company. You are fully in control of the distribution and marketing of the product. ELEMENT only acts in the background as the provider and risk carrier of the product.

• What tariff variants does ELEMENT offer?

The pet health cover for dogs is available in three tariff variants. Offer all three to increase your sales.

Does ELEMENT support onboarding and sales integration?

Our team of business and insurance experts will support you with the whole onboarding and sales integration process. This includes legal audits, tech support, product creation or adaptation, claims management and - if needed - re-insurance.

How flexible are commissions?

You are totally in control of commissions. Decide for instance if you want to lower commissions for long-time customers or whole target groups. Of course, the pricing adapts in real time.

Can we change some things within the product?

Be our guest! Our modular product platform allows to entirely customise the product according to your wishes. 

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ELEMENT Insurance AG


ELEMENT Insurance AG · Hardenbergstraße 32 · 10623 Berlin · Deutschland | Handelsregister (Commercial Register) Amtsgericht Charlottenburg HRB 182671 B · UStID DE309829780 | Vorstand (Executive Board): Dr. Christian Macht (Chairman) · Eric Schuh | Aufsichtsrat (Supervisory Board): Birte Sewing (Chairwoman)

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