Pet & Family Small-amount Short-term Insurance Company

Performance and Operational Review

In fiscal 2014, Pet & Family Small-amount Short-term Insurance (P&F) strived to expand business and improve profitability by focusing on the development and expansion of pet shops, the core sales channel, and worked on diversifying its sales channel through a multi-line approach, together with the sales of a new product. As a result, the number of new policies in fiscal 2014 increased to 25,558, compared with 24,157 in fiscal 2013 and the number of policies in force as of March 31, 2015, increased to 76,430 from 60,841 as of March 31, 2014. The net premium income of fiscal 2014 increased steadily to ¥2,312 million from ¥1,822 million in the previous fiscal year.

Net Premium Income (Pet Insurance)

Fundamental Strategy

P&F aims to establish and strengthen its revenue base focusing on future growth by positioning and strengthening pet shops as a core sales channel, and by expanding the sales base through the multi-line approach of sales channels.

In an age where pets are regarded as lifelong family members, pet owners interest in veterinary care which is not covered by health insurance and its costs are increasing. The penetration rate of pet insurance in Japan is considerably lower than in Western countries, where pet culture is more advanced. P&F considers its mission as serving the needs of pet owners to meet the veterinary expenses of pets by making pet insurance more widely available.

Future Growth

The pet insurance market is expected to see increasing demand going forward. In this growing market, P&F aims to establish and strengthen a stable revenue base through expanding the sales base centered on the pet shop sales channel. At the same time, P&F will provide outstanding services through its competitive product and strengthening the administrative base. In this way, P&F will serve the needs of pet owners to meet the veterinary expenses of pets.