The pet market offers an untapped opportunity, Costantini continues. Pet owners find premiums too high, but insurers are faced with the rising cost of claims and fraud, she explains.

CRIF has developed a unified claims database and is now working on its interaction with third-party databases. “Customer profiling can become the industry standard,” she says, as pet wearables and apps provide valuable insights into the behaviours of the pets and their owners.

For Costantini, such a holistic view is “the panacea to unlock the business” by reducing costs and improving pricing.

Watch the video interview