Research from consumer insights platform QuMind has found that 78% of millennial dog owners have pet insurance, compared to 57% of those in the 55+ age group. It also found that millennials spent more on looking after their dogs, averaging £40 a month, compared to the £17 spent by the older age group.

Mark Ursell, CEO of QuMind, said: “Millennials have revealed themselves to be the most dedicated dog owners with significantly higher investments in both pet insurance and maintaining the overall health of their dog, compared with older generations.

“Insurers should therefore look at how they can effectively target this market by connecting with them through the social channels they are already engaging with, and by offering them incentives that will help them improve their dog’s health, which in turn is likely to lower repayments from the insurer.”

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