In collaboration with our client Sveland Djurförsäkringar, we have analyzed the costs of veterinary visits in Sweden, revealing a significant increase in recent years, affecting both insurance companies and pet owners nationwide.
In a comparison between 2021 and 2023, the average cost of veterinary visits for dogs with common ailments such as uterine inflammation has risen from 20,950 SEK to 25,781 SEK, marking a 23% increase.
The costs of treating cats have also surged during the same period. For instance, the average cost of treating skin abscesses and boils has increased from 3,568 SEK to 5,128, SEK representing a 44% increase.
Also, the treatment cost for cats with skeletal fractures has risen from 8,644 SEK to 13,475 SEK — a substantial 55.84% increase.
Several factors contribute to these price hikes, including advancements in veterinary technology and more sophisticated treatments. While these advanced methods are effective, they can also lead to more costly treatments.
The escalating costs in veterinary care may result in higher premiums for pet owners. With more and more expensive injuries, the claims processing costs for insurance companies increase, potentially forcing them to raise premiums to meet the rising costs.
To encounter these challenges, insurance companies are adjusting their strategies to offer sustainable products. This often involves streamlining claims processing and providing customers with injury prevention guidance to avoid unnecessary veterinary visits and promote responsible pet ownership.
In the case of Sveland Djurförsäkringar, additional measures such as a care guide, improved claims processing, and data analysis are implemented to combat rising costs. Linda Kreutz, CEO of Sveland Djurförsäkringar, shares their initiatives and actions.
"Wisentic's eDjur product helps us at Sveland streamline claims processing and enhance our understanding of costs at a detailed level. As a customer-owned pet insurance company, it is essential for us to assist our customers in preventing illnesses and accidents in their pets to keep premiums low. It is also crucial to streamline our operations to provide the best possible service cost-effectively to our customers."
