Wesfarmers is planning to capture new segments of the insurance sector. It would be making use of its Cole and Kmart chain of stores for this.

The Perth-based giant will be selling car and home content-related insurance policies. Out of these, Kmart will be the retail point for the car insurance and would be doing so through it tyre and auto outlets.

The content-based insurance would be sold through Cole's chain. While Kmart will start selling the policies from next week itself, the one by Cole would be done after some time.

Wesfarmers is going ahead with these plans after undergoing a trial period in Tasmania. The duration of this was six months.

The following step has been taken as a part to expand its hold in the insurance segment. The conglomerate is already the fifth largest insurer of Australia and is the owner of brands like OAMPS, Wesfarmers Insurance and Lumley.

Lately, the insurance sector of Australia has seen a lot happening. And the car insurance is the one that is dominated by only few players and very few motorists. The personal insurance sector has two biggest players who occupy 60 per cent of market share.