Fidelidade Pets Ecosystem

The Pets Ecosystem goes beyond Pets insurance by focusing in an integrated solution for the pets health, well-being, loyalty & gamification, based on a digital presence and fostering the future innovations of the pets market.

Innovation presentation

The idea of an integrated and valuable solution built around the Pets Insurance as a product, was the origin of Fidelidade MyPets Ecosystem. Our Pets Ecosystem is composed by 5 main layers/elements: Fidelidade Pets Insurance, Gamification & Loyalty, Partnerships, Digital presence and Device, which are fully integrated and serve the client with his daily needs as a pet owner.

Pets Ecosystem elements:

Our Fidelidade Pets Insurance covers legal liability and pets health insurance with four different plans: Pet 1, Pet 2, Pet 3 and Pet Vital which go from the lightest version to a fully and complete version with more coverages and higher capital limits. The product differentiates from the market with several key services: free check-up, capital for surgery, telepet service, pet assistance and no lifetime limit if taken out until the age of eight. The client can count with a pets health network of 163 providers around the country which include veterinary hospitals and clinics, plus a partners network with discounts in pet services with more than 180 partners.

Gamification & Loyalty:

We developed the dynamics of gamification which feeds the loyalty ecosystem, retains our clients and encourages prevention and good habits. The client can earn FidCoins (our loyalty coins/points) along the way by accomplishing several events with his pet – taking the pet for the vet free check-up, pets anniversary, having more than one pet insured, pets insurance plan upgrade – and then redeem these FidCoins in the Fidelidade Store in different partner brands vouchers, such as: Pingo Doce, Amazon, Spotify, Netflix, Pestana, Onevet, Fnac, IKEA, etc.

Apart from this, we also provide limited time campaigns with discounts and vouchers to our new Fidelidade Pets clients.

Partnerships:

We are building Partnerships with various entities in the area of animal food and well-being, which improve the offer to the customer and provide discounts in several pet-life categories: pet food/nutrition, pet services (pet day care, pet hotel, grooming, pet sitting & walking), pet retail products and other disruptive partners. Our level of integration with the partners can vary from tree different types: lead generation, discounts and cross advantages or voucher integration in the Fidelidade Store.

Digital Presence:

Our Pets Ecosystem is very present in the digital world, through Fidelidade website and also our MyPets Microsite & Blog with an area on Animal Health, Animal Welfare, Providers and Partners. The microsite is our main channel to reinforce communication around the ecosystem and promote the dynamization of the pets offer in a clear and simple way.

The Blog area includes articles aimed at various audiences: people who have dogs and/or cats, people who have recently brought a pet into their lives and people who are thinking about it and have not decided yet. Our aim is for this blog to be a point of arrival for all these people who want to learn more about their pets, their behaviour and, above all, to provide a happier life for their animals.

Device:

In the near future Fidelidade will offer a Pet Tracker device & App to help our clients monitor their pets location, track their health indicators (calories, temperature, distance, active/resting hours), earn FidCoins by walking with their pets and add assistance coverages to the Fidelidade Pets insurance to help find the pet and provide psychological support to the pet owner in case of pet loss. Our goal is to turn the pet tracker into a rewarding experience through integrated gamification and offer additional value to the client.

Uniqueness of the project

The key element which makes Fidelidade MyPets Ecosystem an unique solution is the integration of all layers of the ecosystem – insurance, gamification & loyalty, partnerships, digital presence, device – in an easy, simple and rewarding experience which provides and answers all the main needs of or clients, as pet owners, through a value added proposition.

The goal was to achieve a solution where the client is rewarded continuously for good practices with his pet, has all the needed partners to enjoy discounts and advantages for him and his pet and is fully covered with an insurance plan which answers his needs in terms of coverages, capital and price.

The Reason Behind

Other (please specify)

Provide a fully integrated solution that goes way beyond the Pets health insurance

The pets market is growing in a very fast pace in the last couple years, mostly in the younger segments and configures a very good opportunity to innovate in the insurance market. This also brings the possibility to acquire new clients in the younger segments and promote cross-sell through a new product to other insurance clients.

Fidelidade as a market leader has the responsibility and capability to lead the change & innovation in the Pets insurance market and the idea of an integrated solution which goes beyond the product, is completely focused on answering the pet owners’ main needs in all segments of the pet’s life. The main goal is to capture new clients and stay close to them along the way, by promoting client retention and loyalty.

Challenges

Other

The main challenge of the MyPets Ecosystem is the ability to connect partners, loyalty and gamification with realistic goals and offers/discounts which actually satisfy the client and are not to hard to achieve neither to easy, so we can control the costs as well. The exercise of negotiating with partners is also especially challenging because of the legal demands in the insurance regulated market (Portuguese Insurance market is regulated).

Results

Other (please specify)

Pets insurance results

Since 2020 Fidelidade Pets insurance sales have been growing more than 55% year per year, growing from 22.4M€ (GWP) in 2020 to 10.2M€ (GWP) in February 2023. The growth rate is also rising, going from 58% from 2020 till 2021 and achieving 68% from 2022 to 2023. (results until February 2023) The results for this year are very promising since we are only in March and we have already a considerable growth in our sales. In nº of clients, at this moment, we have a total of 50649 clients and 79313 insurance policies (data information: 25/03/2023). A good example is also our present Pets Campaign, which offers vouchers up to 250€ to new pets insurance clients and helped us achieve 170% growth in nº of insurance policies when compared to the homologous period last year.