Sorry Coles fans. Despite reports dating as far back as 2013 that Coles pet insurance would soon launch, the product has still not debuted.
Coles markets car, home, landlord, and life insurance products and is reportedly issuing over 100,000 policies per year. The products are all white labeled, meaning that the administration and underwriting are handled by other entities.
Rob Scott, managing director of financial services at Wesfarmers, the parent company of Coles, said financial services are a great tool for leveraging Coles’ brand, distribution and analytics, which helps to create “stickier” customers.
Rival Woolworths has been selling its own pet insurance product since 2012.
No word on if or when Coles pet insurance will launch.