What is it about?
The COVID-19 pandemic that has hit the world has brought a positive trend to the pet industry in Indonesia. However, this increase in the number of pet owners is not accompanied by a strong commitment. As a result, not a few pets are abandoned because the owner is not able to cope with the soaring spike in health costs. In America, this phenomenon has been proven to be successfully prevented by the existence of animal health insurance, which gives pet owners a feeling of security if something bad threatens the health of their pets. However, pet health insurance in Indonesia is still relatively new even though Indonesia also has a large market share, which is around 70% of the Indonesian population. Therefore, this study will use multiple linear regression and utilize the bootstrapping technique to build a model of pet health costs that is used to determine premiums for pet health insurance.
Featured Image
Photo by Eric Han on Unsplash
Why is it important?
The results showed that the variables of the pet’s age, the condition of the pet having been sterilized, routine control by the vet, and the level of activity of the animal had a significant effect on the model.
Perspectives
Writing this article was a rewarding experience, as it involved collaboration with co-authors I have worked with for years. This research has also led to connections with pet care professionals and animal welfare groups, ultimately deepening my engagement in advancing pet insurance research and contributing to broader efforts in safeguarding the health and well-being of pets.
Ahmad Fuad Zainuddin
Universitas Prasetiya Mulya
Read the Original
This page is a summary of: The pet health cost model using multiple linear regression to determine pet health insurance, January 2024, American Institute of Physics,
DOI: 10.1063/5.0193784.
You can read the full text:
Contributors
The following have contributed to this page
