The platform leverages building-specific data to provide users with the ability to benchmark premiums and coverage against comparable properties. Additionally, it offers tools to track renewals, manage policy details, and access expert guidance, all within a user-friendly digital environment.
Eleni Svinos, Director of Insurance at Cohabit, highlighted the challenges traditionally associated with strata insurance, noting that the process has often been opaque and difficult for owners to navigate. She emphasized that CohabitInsurance aims to modernize this experience by integrating live building data, benchmarking capabilities, and expert support to assist strata schemes in making more informed insurance decisions and understanding the associated risks and costs.
Currently, the platform hosts data from over 50,000 building profiles across Australia. Cohabit plans to roll out CohabitInsurance to strata schemes, property owners, and industry partners nationwide, with the goal of providing every building with a digital identity that brings clarity to critical decisions, including insurance.
For property owners and strata managers, this development represents a significant step forward in simplifying the often complex and opaque process of securing appropriate insurance coverage. By offering a centralized, data-driven platform, Cohabit aims to enhance transparency, reduce administrative burdens, and ultimately lead to more competitive premium rates.
As the strata insurance landscape continues to evolve, digital solutions like CohabitInsurance are poised to play a pivotal role in addressing longstanding challenges and meeting the needs of modern property owners and managers.
