Our Dogs Visit the Vet Up to Five Times a Year... Annual Veterinary Costs Average 580,000 Won

MyBrown Conducts Survey of 300 Pet Owners

It was found that over 70% of pet owners visit animal hospitals two to five times per year. The average expenditure per hospital visit is approximately 150,000 won, and the annual average veterinary cost is about 580,000 won.

Veterinarians are treating companion animals. Photo by The Asia Business Daily

On May 19, MyBrown Pet Insurance announced the results of a survey conducted among 300 female pet owners aged 30 to 49 residing in Seoul and the metropolitan area. MyBrown is Korea's first pet-specialized insurance company, launched in July last year.

The most common reasons for visiting an animal hospital were vaccinations and parasite prevention. The proportion of visits for relatively frequent conditions such as skin diseases, digestive disorders, and dental issues was also found to be high.

Additionally, the average spending per animal hospital visit was approximately 150,000 won, and the annual average veterinary cost was around 580,000 won.

The pet insurance market is expanding its coverage beyond surgeries and severe illnesses, now including routine checkups and treatment areas.

A representative from MyBrown explained, "We have included not only examination items such as magnetic resonance imaging (MRI), computed tomography (CT), and endoscopy, but also recurring conditions requiring ongoing treatment and management, such as seizures and pancreatitis, within the coverage."

In fact, according to actual insurance claim data, atopic, bacterial, and fungal dermatitis accounted for the largest share at 10.7% of claims, followed by otitis externa and otitis media (10.2%), and enteritis (5.5%). Common conditions such as gastrointestinal foreign bodies and vomiting, which frequently occur in daily life, were also major items among insurance claims.

This indicates that pet insurance is not just a product for major surgeries or severe illnesses, but is also highly practical for routine medical care that requires repeated hospital visits.

Lee Yonghwan, CEO of MyBrown, stated, "As interest in pet care increases, so does the demand for insurance that covers not only major surgeries and severe illnesses, but also everyday diseases. We are focusing on providing coverage that pet owners can truly feel by broadly reflecting the tests and conditions that frequently occur in real clinical settings."

The number of MyBrown policyholders exceeded 10,000 within about seven months of its launch.

A MyBrown representative added, "As a result of offering insurance that flexibly responds to various medical situations, demand among pet owners for enrollment is increasing."

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