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11 Sep 2019

Australia's first digital underwriting agency revamped to make it easier for customers

Three years ago, Australia’s foremost strata insurance specialist CHU launched the first digital underwriting agency, CHUiSaver, as its innovation lab. During this time CHU continued to invest and develop its digital and AI capability.

Today, after listening to extensive market feedback, CHUiSaver has been revamped and rebranded to become Flex Insurance, making it even easier for customers to get the right cover for them.

Flex gives brokers, strata managers and owners full control of their strata insurance online 24/7.

 The first product in the Flex Insurance range is enhanced residential strata insurance cover that can be tailored by the customer and give them full digital control. Other unique flexible products will follow.

“We’ve developed the digital platform and evolved the product to make Flex market leading from a number of different perspectives,” said CHU CEO Bobby Lehane. “We built Flex to make it easier for customers to get the right cover at the right cost for them.

“The cover is fully flexible and can be customised to suit the unique needs of the strata building, allowing customers to only pay for what they need,” said Mr Lehane.

Insurance can be complicated. Another reason Flex was developed. “It’s simple and straightforward, cutting through sometimes confusing insurance jargon,” said Mr Lehane. “Flex gives customers a clearer picture of strata insurance and makes it easier to choose the right cover for their building.”

He added: “Because of its flexibility Flex is also ideal for time-poor brokers and strata managers who want to ensure their clients get the right insurance at the right price - no matter the size.”

In the time of need, Flex cover gives customers the support of an established national network of insurance specialists, with 24/7 online claims service and emergency assistance.

Flex Insurance policies are underwritten by QBE Insurance (Australia) Ltd, one of Australia’s most secure insurance companies.

CHUiSAVER Underwriting Agency Pty Ltd (ABN 85 613 645 239, AFSL 491113) trading as Flex Insurance acts under a binding authority as an agent for certain underwriters at Lloyd’s and QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239545), the insurers of the products.

Terms, conditions, limits and exclusions apply to the products referred to above. Any advice contained on this website is general advice only and has been prepared without taking into account your objectives, financial situation or needs. Before making a decision to purchase the product or to continue to hold the product we recommend that you consider whether it is appropriate for your circumstances and read the Product Disclosure Statement (‘PDS’), Target Market Determination (‘TMD’) and Financial Services Guide (‘FSG’), which can be which can be viewed on this website or obtained by contacting Flex Insurance directly.

Flex Insurance is a wholly owned subsidiary of CHU Underwriting Agencies Pty Ltd (ABN 18 001 580 070, AFSL 243261) (‘CHU’). CHU is a wholly owned subsidiary of Steadfast Group Ltd (ABN 98 073 659 677) (‘SGL’). SGL may receive a professional services fee (‘PSF’) from insurers, premium funders and underwriting agencies such as Flex Insurance and CHU (‘Partner’) for access to regulatory and compliance support; marketing and communications; data insights; and access to technology platforms. The PSF is an agreed amount between SGL and the relevant Partner, usually annually. The PSF is not determined by the volume of the business that the Steadfast Network brokers place, nor is the amount of the PSF known to the Steadfast Network Brokers, so it is not able to influence recommendations to their clients.

Flex Insurance may have access to shared services from SGL, including: compliance tools; procedures; manuals and training; legal; HR banking; and group purchasing arrangements. These services are funded by SGL, subsidised by SGL or SGL receives a fee for them. SGL’s FSG is available at www.steadfast.com.au or on request by telephoning SGL’s Company Secretary on +61 2 9495 6500.

Copyright © 2024 CHUiSAVER Underwriting Agencies Pty Ltd