Pet & Family Small-amount Short-term Insurance Company

Performance and Operational Review

In fiscal 2015, 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. As a result, the number of new policies in fiscal 2015 increased to 30,985, compared with 25,558 in fiscal 2014 and the number of policies in force as of March 31, 2016 increased to 96,434 from 76,430 as of March 31, 2015. The net premium income of fiscal 2015 increased steadily to ¥2,943 million from ¥2,312 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 products and by strengthening the administrative base. In this way, P&F will serve the needs of pet owners to meet the veterinary expenses of pets.