On June 17th, it was announced that the pet insurance business was collaborating with academic institutions and pet hospitals to explore the application standards in the pet insurance industry regarding medical concepts and diagnostic standards, promoting the standardized development of the industry.
The standards will be applied in the management of designated pet hospitals on the platform, medical recommendations, and claims review. By linking medical insurance, a standardized diagnostic and treatment system, scientific medication guidelines, and transparent service standards will be established. This makes pet medical treatment more transparent and public, also saving pet owners from unnecessary expenses and effectively protecting consumer rights.
In recent years, the domestic pet economy has developed rapidly. Data show that by 2024, the number of urban pet cats and dogs exceeded 120 million, and the related pet economy market size surpassed 300 billion yuan. While the pet industry is booming, it also faces some problems in pet medical care, such as expensive treatments, non-uniform charging standards, misdiagnosis, and excessive treatments which are likely to cause disputes over medical visits.
