Consumers Enjoy Lower Premiums Thanks To Coles And Woolworths Insurance War

Since the arrival of Coles and Woolworths on the insurance scene, consumers have sat back and watched premiums fall over the battle for market share.

Coles and Woolworths are relative newcomers in an industry that a Daily Telegraph article today described as 90% controlled by insurance giants IAG and Suncorp.

The Tele reports that Coles Insurance, issued by Wesfarmers General Insurance, has grown its number of policies 10-fold in the last two and a half years to nearly 270,000, while Woolworths is on track to double its number of policies sold this financial year.

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