OneDegree relaxes microchip requirement for cats to provide more access to health coverage

Virtual insurer OneDegree announced that cats without microchips can now enroll in its Pawfect Care pet insurance, becoming the first pet insurer in Hong Kong to relax such a requirement. At the same time, the Company is rolling out special promotions for both cat and dog plans to encourage more pet parents to insure their beloved furry friends, and to experience what Pawfect Care has to offer.

The mandatory microchip requirement for pet insurance policies is an impediment for some cat owners, as cats are not required by law to have microchip in Hong Kong. While it is recommended that all pets have chips, as they greatly increase the chances of lost pets finding their way home, OneDegree respects the decisions of cat owners and updated Pawfect Care’s enrollment criteria so that more pets can have access to health coverage.

“We strive to provide the best product for pet owners by responding swiftly to feedback. After analyzing market data, our team learned that, while cat owners sought almost as many quotations as dog owners, less than 20% of Pawfect Care policies issued were for cats. As a cat owner myself, I understand what concerns other cat owners may have. By relaxing the microchip requirement, we hope pet parents will find it easier to get the medical coverage their feline friends need.” – Arthur Lee, Chief Executive of OneDegree.

The number of Pawfect Care policies issued in July jumped 85% month-on-month, and the company expects this pick-up in growth to continue as awareness of pet insurance improves.

Among the policies that have passed the 28-day waiting period, 1 in 4 have made claims. The average time between verification from the veterinary clinic and the claim payment to a policyholder’s bank account is one working day, with the fastest case taking only a few hours to process.