Pet insurance companies will need to invest heavily to meet rising pet insurance demand, with a mix of new entrants to the industry and a strong domestic market, according to Peter Millar, chief executive of PetCo.
In an interview with Bloomberg Television, Millar said the industry’s annual revenues were expected to rise about 1 percent this year and then double or triple that year, as consumers seek coverage that includes more affordable pets and is more affordable to consumers.
He also said the cost of insuring pets at the pet insurance level is expected to grow about 7 percent this fiscal year.
PetCo is an insurance company that provides pet insurance through the United Pet Insurance Association, a group of the nation’s largest and oldest pet insurance organizations.
The company offers pet insurance plans that cover both adult and adult-sized pets, such as dogs and cats.
PetInsurance.com, the company’s parent company, is the biggest provider of pet insurance on the market, with the largest market share in the U.S.
Petco, which launched in 2013, has more than 200 million policyholders and $1.5 billion in annual revenue.
It is owned by the American Pet Insurance & Pet Care Association.
Pet Insurers are private insurance companies that buy pet insurance policies and pay a premium based on the price of a pet and the insurer’s risk profile, such that the higher the premium, the higher that premium is.
The insurance company then provides coverage to the insured pet or pet owner.
Millar said PetCo has already been able to meet growing demand for coverage in the domestic market by providing coverage for about 90 million pets.
He expects the company will add another 100 million pets to its pet insurance portfolio in the next two years, including about 60 million pets under the PetCo Cat Plan, which was launched in 2014.
Pet insurance policies cover animals ranging from dogs and puppies to cats, hamsters and guinea pigs.
Millar noted that the Cat Plan is a very flexible policy that covers dogs and small cats as well as dogs.
He said that the company does not have a set price or a specific policy for dogs.
Pet insurers often offer multiple coverage options.
For example, some are available through both a dog and cat policy, while others include a dog pet and a cat pet policy.
PetCo said it had no plans to increase the size of its cat pet coverage to include dogs, which will cost more money.
Millam said that PetCo also has a very large portfolio of pet policies in the pet industry that are available to the public, which he called “very, very healthy.”
The PetCo cat plan is available to people with an average age of 65 and up, and the Pet Co Cat Plan for Adults is available for those with an income of $250,000 or more.
Pet Co cat policies cover dogs, cats and ferrets, as well, with premiums based on their weight and weight range, size and age.
Millars comments about PetCo’s cat plan reflect the company and its cat insurance industry partners’ strong commitment to the health of their pets, he said.
Millard said the company has a goal of having 100 percent coverage for pets by 2025.
The Cat Plan covers dogs, but there is also a pet cat plan for adults that covers cats and dogs.
The Pet Co cat plan has a similar focus on coverage for dogs, and PetCo plans are available on a sliding scale, depending on income and pet needs.
Millards comments about the Petco Cat Plan and Petco’s Cat Plan show that the Pet Insurers have significant expertise in pet insurance coverage, Millard said.
Pet Insurance has been a top choice for pet owners for many years.
In 2013, PetCo received the top rating for pet insurance among major insurers in the American Consumer Satisfaction Index.
In 2016, PetInsurance received the highest rating of all the major pet insurers, according the Consumer Federation of America.
Mill’s comments about Cat Plan came at a time when the Pet Insurance industry is in a major transition.
The National Association of Insurance Commissioners has said that its members will need more than $1 billion in additional funding to ensure that pet insurance remains a reliable and affordable option for pet owner and pet care.
In March, the House passed a bill that would provide $400 million to the U-Pass to fund the UPC.
Mill is in his fourth year as PetCo CEO.
He joined PetCo in 2011 after serving as the chairman of the American Veterinary Medical Association’s board of directors from 2000 to 2003.
He previously was vice chairman of PetInsurers and served on the board of PetCare and PetInsurer’s parent group, Pet Co.
In addition to PetCo, Millars companies include PetCo Care and PetCare USA, Inc.
PetCare has more of a retail presence than PetCo and its pet policy offerings are available at retailers and online, while PetCo offers pet policies through its PetCo Home and Garden and Pet Co Pet