Intermediary BDML Connect, which specialises in affinity deals, is planning to capture a tenth of the pet insurance market after signing a joint venture with Thornside. Thornside owns the retail brand
Petwise and already has partnerships with Pets Pyjamas, Columbus Travel, Great Universal Stores, Camping and Caravan Club.
Sandy Dunn, managing director of BDML, said the new venture aimed to capture at least 10% of the pet insurance market within the next three to five years. “By having such a reputable company as Thornside in the BDML Connect group we feel it is an achievable target to meet,” he said. There are about 14 million cats and dogs in the UK, but only 9% are covered by insurance.
Thornside managing director David Seel said the intermediary hoped its affinity deals would enable it to reach more of the 13 million pet owners without insurance.
He added: “We will continue to build our portfolio of partners and develop new products to achieve full penetration in our target markets.”