OneDegree introduces new relocation benefit for Pawfect Care and announces results of pet health survey
Homegrown next-generation insurer OneDegree Hong Kong announces today a new benefit for its Pawfect Care pet insurance, aimed at providing additional support to policyholders moving abroad with their pets. A recent survey conducted by the company found that, while most respondents said they would bring their pets along if they are emigrating, some indicated that they may be held back by expensive relocation costs.
With the new benefit, eligible policyholders are entitled to a one-time cash payment of HKD 10,000, which can be claimed after their policies have been renewed and upon submission of necessary documents to prove immigration status. The benefit is applicable to all Pawfect Care policies issued on or before 31 December 2021, and does not apply to the Starter Plan.
OneDegree Hong Kong Co-Founder Alvin Kwock said: “Relocating pets is expensive, and one of the main reasons why some are left behind when their owners move to a new country. We have been concerned about the reported uptick in the number of abandoned pets in shelters, possibly related to the rising trend of people emigrating. Owning a pet is a lifelong commitment and we hope our new feature can help make a bit of a difference.”
"Some pet parents may be putting off getting pet insurance because they have plans to move in the near future. We understand their hesitation, but we would still encourage them to get protection for their furry friends as preparations for emigrating can be a long process. We never know when accidents or illnesses will happen," Mr. Kwock added.
The survey was conducted by OneDegree Hong Kong in January and February this year via an online questionnaire. A total of 1,400 pet owners in Hong Kong, aged 18 to 65, responded to questions related to pet health and pet care.
The survey found that most respondents considered their four-legged friends as an integral part of their families.
- 84% of pet owners indicated that they would bring their pets along if they emigrate in the future.
- Expensive relocation costs (22%) and complicated application procedures (21%) were the top two reasons why they would not consider moving with their pets. Other reasons include the pet’s age, the pet’s health condition, and the possible stress caused to the pet.
Hong Kong pet owners in general are quite willing to spend on their pets, even in the face of financial pressure.
- Although 44% of respondents said that they have personally felt financial impact from the pandemic, only 17% said that they have scaled back pet expenses as a result.
- 49% of respondents will buy health supplements for their pets at least once every two months.
- 72% of respondents take their pets for regular medical check-ups once every 6 to 12 months.
Yet, more than half of respondents said they do not have insurance or dedicated savings for their pets, implying that awareness of pet medical protection is still relatively low in Hong Kong.
- Only 16% of respondents currently have pet insurance policies and a significant portion of pet owners (31%) has not heard of pet insurance before.
- 77% of pet owners said they do not have a fund for their pets’ emergency medical needs.
OneDegree Hong Kong Chief Executive Arthur Lee said: “Pet owners have long been underserved by the insurance industry. However, the launch of Pawfect Care has led to more interest in this area, and we have continued to roll out new features and upgrades to meet the needs of pet parents. With better products available, it is only a matter of time before pet parents recognize the benefits pet insurance can bring for them and their four-legged companions.”
For more details about the relocation benefit, please contact us through our website (www.onedegree.hk), WhatsApp/hotline (2886 9892), or meet us in person during the Hong Kong Pet Show (Booth number: C25) from 15 to 18 April at the Hong Kong Convention and Exhibition Centre. During the period, pet owners can enjoy 25% off Pawfect Care using the promo code “PETEXPO” and a welcome gift with every policy purchase (must be collected in person at the Pet Show).
OneDegree – Pet Relocation Benefit is a temporary additional coverage, applicable to Pawfect Care enrolled and renewed on or before 31 Dec 2021. This campaign aimed to release the financial burden of pet owners migrating with their furry friends during that policy year. Please note that this temporary additional coverage has been terminated, and any application after 31 Dec 2022 will not be accepted.
OneDegree reserves the right to change or terminate any temporary additional coverage at any time appropriate, without prior announcement.
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