TG's community profile page - Smart Money People

Write a review

Viewing profile for,

TG

Total reviews written

Helpful marks given to their reviews

159

Times reviews seen

All reviews (1)

Review of the ManyPets, Pet Insurance:

View on product page

THEY HAVE NO FUNDS TO PAY FOR CLAIMS

This review is based on my experience with Manypets being unable to pay my claim in the region of £3,000 approximately 4 months since submission. They have not contested or disputed the claim, so based on the information below, it appears that THEY HAVE NO FUNDS TO PAY FOR CLAIMS and they are probably waiting to collect cash from premiums so that they can pay claims. I am currently in a Formal Complaint process, yet Manypets appears to be under severe financial pressure and overall financial difficulties, as initially reported by the Insurance Post (postonline.co.uk) in a 2023 extract: "Things are looking fairly bleak in the UK as well for the insurer, as its loss ratios appear to be a sore subject. For the year ending 31 March 2022, Many Pets' loss before tax stood at £31.9m, compared with a loss of £22.3m in 2021." Furthermore, Manypets' latest Report & Accounts in the Companies House indicate matters have severely deteriorated further in 2023, with a larger LOSS of approximately £43 MILLION and NEGATIVE EQUITY of approximately £26 MILLION. I suspect they may become INSOLVENT relatively soon, unless the situation changes drastically. Finally, they do NOT pay vets directly - please ignore what their website says - and, based on other reviews, most vet practices will not deal with them due to non-payment. As a matter of fact, they do NOT pay anyone at all (customers or vets) according to my experience. If you buy a policy from Manypets, do NOT expect them to pay your claims unless you file a formal complaint (8 WEEKS), followed by the Financial Ombudsman (3 MONTHS), and then possibly followed by a court process (3-6 MONTHS), assuming they have not gone BUST in the meantime..... Reviewed on: 1st November 2024

We are helping 1000s to make smarter financial decisions

We use the power of consumer reviews to help increase trust and transparency in financial services and to deliver industry leading insight and events.