The insurtech phenomenon is already in overdrive, and now British multinational insurer RSA
has got in on the act.
The company has made its first external investment in a financial technology company by making a cash-for-shares investment in Pitpatpet.
Pitpatpet is the creator of a dog activity monitor and intelligence data platform that attaches to a dog’s collar. It allows owners to use a free app to create a profile for their pet based on its age, weight and breed and then suggests a daily activity goal that can help their pet stay healthy through lifestyle choices.
According to a report in Vet Times
, owners can use the app to see their pet’s activity levels, calories burnt and more – particularly important as Kennel Club estimates suggest 30-60% of dogs in the UK are obese.
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Speaking to the publication, Kenny Leitch, global connected insurance director for RSA
, explained that education and encouraging prevention of disease is just as important for pets as it is for humans.
“The really clever element here is owners can, for the first time, use real-time data to monitor how their pet is behaving and how that might affect their health,” he said. “This information is designed to help owners make smart decisions to prevent disease. We want to help our customers give their dogs the best and healthiest life possible.
“PitPat offers us a powerful and practical way of generating lots of secure and robust data about 200 breeds of dogs that is incredibly easy for us and valuable for our customers.”
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