Consider the fact that the purchase of pet insurance for cats and dogs in the U.S. market has been limited compared to other nations. Even with an oversimplified calculation that each of those households only has one cat or one dog, the percentage of dogs with pet insurance is 3.3% and for cats, the rate is merely 1% for U.S. pets in 2019. Established companies and new startups alike are looking to capture the growth for pet insurance premiums.