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Indian insurtech startup Go Digit General Insurance, which provides insurance coverage for motor, health, travel, property, marine, and liability, among others, announced it has partnered with Vetina Healthcare LLP (who will act as a Group Manager) to extend comprehensive pet insurance coverage for dogs to members of Vetina Family.
According to the company's statement, The product will provide comprehensive coverage to pet dogs, which are one of the most common pets in India. The plan will provide ultimate protection to furry companions and will provide a combination of different coverages like OPD expenses, critical and specific illness cover, and third-party liability. A comprehensive policy will cover different surgeries, hospitalisation, medications, vet fees, and diagnostic procedures, among others, the company said.
The insurtech firm said the policy will be extended to 847 different dog breeds, including pure, cross and indie breeds.
The Sum Insured will range from Rs 40,000 to Rs 1.5 lakh and will be available for pets aged between 12 weeks to 10 years. The premium will begin from Rs 1,879* and will be based on the pedigree, age, breed, sum insured, and the plan opted for the pet, the company said.
The Double Income No Kids lifestyle, often referred to as the DINK couples, has been prevalent in India. According to Census data of 2011, the DINK lifestyle is prevalent in nearly 42% rural and 22% urban families. An extension of this lifestyle is now the DINKWAD (double income, no kids with a dog) couples, as many millennials are now looking at adopting a pet and becoming dog parents instead of having children.
How it works?
In this partnership, four different types of covers under Digit Pet Insurance can be opted under different combinations^ by Vetina customers. The OPD Cover will pay for any expenses related to various treatments at a veterinary clinic and will cover up to 20 different types of most commonly occurring illnesses.
The Specific Illness Cover will cover up to 41 specific illnesses ranging from benign tumours, gall bladder stones, hepatitis, cataract, among others, and will also cover expenses related to diagnostic procedures, medications, chemotherapy, dialysis, and blood transfusion, among others.
Under the Critical Illness cover, the insurer will pay a lump sum amount if the pet is diagnosed with any of the eight critical illnesses like any heart disorders, all malignant tumours, renal or kidney failure, liver failure, cirrhosis, pulmonary fibrosis and radial nerve paralysis.
The Third-Party Liability cover will protect pet parents from any legal liability to pay for any damages towards third-party civil claims of bodily injury or property damage caused due to the unruly behaviour of the pet. Sum Insured for OPD and third-party liability cover will be part of the specific illness cover and the sum insured for critical illness will be over and above the specific illness cover.
To claim reimbursement, one would need to inform the insurer within 24 hours of admission or from the onset of an event that may lead to a claim and submit the documents within 30 days to get the claim reimbursed.
Statements:
Vivek Chaturvedi, CMO and Head of Direct Sales at Go Digit General Insurance said, “Pets are now treated as family members and many people now adopting the DINKWAD lifestyle is a testimony of that. However, pets, too, are prone to various health issues and medical complications, treatments for which can be expensive. Our Digit Pet Insurance Policy offering is designed to provide a 360-degree comprehensive coverage to pets and gives the pet owners flexibility to choose covers that are most relevant to them.”
Prakash Khaire, Designated Partner, Vetina Healthcare LLP, said, “We are thrilled to announce that Vetina will act as Group Manager for extending Digit’s pet insurance offering to the furry members of Vetina family. Our commitment to protecting what matters most extends to our beloved pets. We understand the profound bond between families and their pets, and our goal is to provide peace of mind by extending Digit’s comprehensive cover for their well-being.”
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