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British fintech company Revolut is offering streamlined pet insurance to young Britons.

Feb 16 2022

British fintech company Revolut is offering streamlined pet insurance to young Britons. Known for simplifying its financial services and purchase protection, Revolut is extending its product to cover pets. Unlike other pet insurance companies, the cost of Revolut’s coverage depends on the pet’s age, breed, gender, and location rather than a flat fee, while covering vet costs up to £10,000 per year for dogs and cats. YPulse’s WE insurance research found that 47% of young Europeans consider pet insurance necessary or essential, and 37% consider it good to have, as pets have become increasingly important in young consumers’ lives. In 2020, YPulse found that 76% of Millennials in North America were pet parents, spurred in part by the pandemic. Revolut’s new offering taps into the value young consumers place on their pets—and gives them a strong reason to purchase insurance. (AltFi)