Private insurer, Green Delta has launched the country's first pet insurance product covering dogs and cats.
The pet insurance product will cover accidental injuries, critical illness, and specific diseases, with coverage for dogs in the range of Tk20,000 ($164) to Tk80,000, and for cats in the range of Tk10,000 to Tk 30,000.
With over 200,000 pet owners in the major cities of Dhaka and Chattogram, the market has huge potential for pet insurance products. Green Delta has partnered with different entities to offer special incentives to policy holders including a 15% discount from Aster pharmacy on pet products and a 10% discount on various services at Petland.
Data from Allied Market Research reveals that the global pet insurance market was valued at $10.1bn in 2023 and is projected to reach $38.3bn by 2033, growing at a compound annual growth rate of 14.5%.
