Kakao Pay Insurance Launches Pet Insurance with Industry's Highest Coverage

Up to 5 Million Won on Surgery Day, 40 Million Won Annually

Surgery Day, Hospitalization, and Outpatient Plans... Lower Premiums

KakaoTalk Pet Lost & Found Service "Gachichatgae" Provided

On March 18, Kakao Pay Insurance announced the launch of its new pet medical insurance product, which offers the highest level of coverage in the industry, including up to 5 million won for medical expenses on the day of surgery and up to 40 million won in annual medical expenses.

Kakao Pay Insurance explained that it developed this product in response to the growing financial burden on pet owners. Although the domestic pet population exceeds 15 million, the lack of standardized pricing systems at animal hospitals leads to significant variations in medical costs, making it difficult for pet owners to manage expenses.

Kakao Pay Insurance's pet insurance covers both dogs and cats, and is available for pets between 60 days old (0 years) and 3 years old. It is designed as a long-term policy with a maximum maturity of 20 years, allowing for comprehensive coverage throughout a pet’s life.

To ensure that pet owners do not hesitate to seek medical care due to financial concerns, the policy offers industry-leading coverage limits on both surgery day expenses and annual medical costs.

The product focuses on helping pet owners choose better treatment environments in situations where surgery is needed. When surgery is required, additional costs for diagnostics, surgery, hospitalization, and medication may arise, often leading to higher-than-expected medical expenses.

According to Kakao Pay Insurance, there are many cases where surgery and hospitalization can result in costs of several million won. For example, in the case of small breeds like Maltese or Poodles, patellar luxation surgery—a common procedure—can see treatment costs skyrocket when diagnostics, surgery, and hospitalization are combined.

The product is offered in three plans, allowing pet owners to choose according to their needs. During product design, Kakao Pay Insurance collaborated with pet healthcare company Fitpet to analyze animal hospital claims data and establish a coverage structure that reflects the specific characteristics of pet medical expenses.

The "Surgery Day Plan" focuses on covering medical expenses incurred on the day of surgery, with an annual limit of up to 10 million won. The "Surgery and Hospitalization Plan" covers both surgery day expenses and associated hospitalization costs (up to 150,000 won per day), with an annual limit of up to 15 million won. The "Surgery, Hospitalization & Outpatient Plan" is a premium plan that broadly covers surgery day expenses, related hospitalization, and outpatient treatment, with annual medical expenses covered up to 40 million won.

All three plans provide up to 5 million won in coverage for medical expenses on the day of surgery, and commonly include coverage for pet liability and a condolence payment (special contract) for dogs and cats crossing the rainbow bridge.

Another key feature is the reduced insurance premium burden. The Surgery Day Plan and Surgery and Hospitalization Plan are designed at less than 10,000 won per month, making it easier for owners who were previously hesitant to purchase pet insurance due to cost concerns.

For example, if a 30-year-old female owner enrolls her one-year-old Maltese, the monthly premium for the Surgery Day Plan is 7,196 won, while the Surgery and Hospitalization Plan is 7,464 won. The Surgery, Hospitalization & Outpatient Plan, which also covers outpatient care, costs around 30,000 won per month, providing coverage for annual medical expenses up to 40 million won.

To further strengthen the social safety net—the core principle of insurance—the company has enhanced its technology-based services. Its flagship service, "Gachichatgae," allows owners to register information if their pet goes missing. A location-based notification is then sent to nearby Kakao Pay Insurance users, who can respond with information to help recover the lost pet.

A representative from Kakao Pay Insurance stated, "We designed this product with the belief that no one should have to give up medical care for a beloved pet due to financial reasons," adding, "We will continue to expand the safety net for all stages of life, from infants and elementary students to adults, and now to pets, by introducing pet insurance products that encompass the entirety of our users' lives."

This content was produced with the assistance of AI translation services.