Insurance Technology Featured Article

6Microchips Tracking Services Lead Sales for Pethealth

January 21, 2013

Pethealth, Inc, a popular insurance and health support service for companion animals, experienced increased growth from sales of microchips and tracking services in 2012. Often referred to as “microchipping operations,” the company’s sale boosted by 14% since 2011, and expects continued increases in countries where the services are sold.

According to a Marketwire report, “The MiniChip, exclusive to the Company in 2012, is one-third the size of the standard microchip which is itself approximately the size of a grain of rice. The MiniChip, like the standard sized microchip which accounted for the bulk of sales in 2012, is manufactured by Allflex USA, Inc., the world leader in design, technology, manufacturing, and distribution of animal identification systems for traceability purposes.”

Additional services in animal and pet tracking means that owners are utilizing this technology as they become available and affordable and that sales are likely to steadily increase as pet markets continue to expand and open up to new owners and breeders alike.

As of December 31, 2012, the Company's cloud-based animal management system called PetPoint was been licensed by 1,955 animal welfare organizations in the United States and Canada. According to the report, this represents “an increase of 182 organizations over the number licensed as of December 31, 2011 [and] included in this group were Central California SPCA, Calgary Humane Society and Dekalb County Animal Services and Enforcement.”

As more city-wide and regional organizations begin to embrace this type of technology, companies like Pethealth are likely to witness an increase in demand, and ultimately, sales. Care for animals will likely not be affected by gross market trends, so there will always be a market for this type of technology as long as loving pet owners are around who want to keep an eye on their furry little loved ones.




Edited by Ashley Caputo

Article comments powered by Disqus

Related Insurance Technology Articles

Farmers Insurance Selects Guidwire to Improve Customer Experience and Internal Processes

Farmers Insurance looks to Guidwire to make processes more agile and cost-effective and to improve customer experiences. [ Read More ]
07/29/2015

Report Analyzes Adoption and Impact of Agile Methodology Use by Insurers

In an effort to look at the benefits to insurers, Novarica, a research and advisory firm focused on insurance business and technology strategy, is out with a new report, Agile at Insurers 2015, based on a survey of 58 insurer CIOs from the Novarica Insurance Technology Research Council. [ Read More ]
07/28/2015

eBaoTech and Alibaba Cloud Launch Insurance Cloud Platform

At the risk of sounding like either a broken record or an "I told you so", it is getting to a stage where it has become almost mandatory in any insurance technology article to point out that industry analysts, financial analysts and even C-levels within all of the insurance industry's lines of business have all said the same thing. This common refrain is either a call to action or a warning. However, no matter the perspective it says to traditional insurers that they must automate, and change th… [ Read More ]
07/27/2015

InsureWell and Algebraix Data to Collaborate on Big Data Analytics for Insurance Industry

InsureWell and Algebraix Data partner to use Bid Data to provide better and more timely info to insurers. [ Read More ]
07/24/2015

Events

Weekly Live Demo
Contact Center Solutions

Register Today!