Cohabit's New Digital Platform Revolutionises Strata Insurance Management

The platform offers several key features aimed at enhancing user experience and operational efficiency. Users can benchmark premiums and coverage against similar properties, ensuring competitive and appropriate insurance selections. Additionally, the system enables tracking of renewals and policy details, providing a centralised hub for all insurance-related information. Expert guidance is also accessible through the platform, assisting users in navigating the often complex landscape of strata insurance.

Eleni Svinos, Cohabit's Director of Insurance, highlighted the challenges traditionally associated with strata insurance, noting its opacity and the difficulties owners face in understanding their coverage. She emphasised that Cohabit's digital approach brings the process into the modern era, combining live building data, benchmarking, and expert support to empower strata schemes in making more informed insurance decisions.

Currently, the platform hosts data from over 50,000 building profiles across Australia, demonstrating its extensive reach and capacity. CohabitInsurance is set to be rolled out to strata schemes, owners, and industry partners nationwide, aiming to provide every building with a digital identity that clarifies critical decisions, including insurance.

For property owners and investors, this development addresses several common pain points, such as the complexity of comparing different strata insurance policies and managing claims and repairs. By offering a transparent and user-friendly interface, Cohabit's platform simplifies the insurance process, potentially leading to more competitive premiums and comprehensive coverage tailored to individual property needs.

As the strata property market continues to grow, with an increasing number of Australians residing in strata-titled properties, innovations like Cohabit's digital platform are poised to play a crucial role in enhancing the efficiency and transparency of strata insurance management.