Naked rolls out pet insurance in SA from R40 a month

Naked has announced the launch of a new product that will certainly be of interest to local pet owners, with the digital-first insurance platform rolling out pet insurance in South Africa.

The offering has been made available to customers in a pilot, but now it is being launched to anyone in South Africa who meets the online eligibility criteria.

As for the offering itself, Naked highlighted that accident-only cover starts at R40 per month for cats and R55 for dogs, with the platform also pointing out that automated processing is a key element to its pet insurance, which allows for some claims to be paid within minutes.

“Naked’s early claims data shows a median of 1.3 days from submission to payment, with 60% of claims paid within 48 hours. Approximately 29% were paid within an hour of approval. Its fastest payment to date took 12 minutes from the time the claim was lodged,” the platform shared in a release with Hypertext.

“For many of our customers, their pets are part of their family. When a pet needs emergency treatment, you’re already worried about what might be wrong and whether they’ll recover. The last thing you want to worry about is how you’ll pay the vet bill or how long you’ll have to wait to get your money back. That’s why we set out to make claiming easy and pay customers back as quickly as possible,” added Sumarie Greybe, co-founder of Naked.

The platform also highlighted just how expensive medical care for pets can be in South Africa. Sharing the insights from Dr Erika Pienaar, a veterinarian at Prime Pet Veterinary Day Clinic in Nelspruit, Naked said that, “a standard consultation costs R585 at her practice. A blood smear, needed in many cases, adds R230, bringing the bill to R815 before treatment or more complex tests.”

“Surgery to remove an object a dog has swallowed typically costs between R5,800 and R15,000. Pienaar emphasises that fees vary widely depending on the animal’s size, the complexity of the case and any complications. Costs can be substantially higher, particularly at specialist practices,” it continued.

As such, the bills can rack up quite quickly, especially when your pet is very young and when it is very old, which means pet insurance is a key consideration for many in SA.

Further unpacking the benefits of its pet insurance offering, Naked noted that customers can get a quote, buy cover, and manage their plan through the Naked app. “Cover options include Basic accident-only cover (from R40 per month for cats and R55 for dogs); accident-and-illness cover; or more comprehensive cover that includes physiotherapy and routine care such as preventative treatments, vaccinations and check-ups,” it highlighted.

“Customers can choose their annual limit of cover ranging from R15,000 to R120,000, and select an excess that suits their budget. They can use any registered vet in South Africa and submit claims through the app by uploading their vet invoice and answering a few questions,” it went on.

With Naked already offering insurance for cars, homes, contents, and standalone items, pets are now a part of its digital-first platform.

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