Flex Insurance

What Flex Insurance does

Flex Insurance (legal entity: CHUiSAVER Underwriting Agency Pty Ltd, ABN 85 613 645 239, AFSL 491113) is an Australian underwriting agency that designs and distributes residential strata insurance, marketed as Australia's first digital underwriting agency in the strata niche. The company operates a three-tier modular product (Flex Essential for small schemes, Flex Select for balanced cover, Flex Plus for comprehensive cover) plus a recently launched Flex Complex Strata Insurance for high-risk buildings, with optional add-ons including voluntary workers, fidelity guarantee, office bearers' legal liability, machinery breakdown, catastrophe insurance, government audit costs, and lot owners' fixtures and improvements. Its technology stack centres on a digital quote-and-bind platform (quote.flexinsurance.com.au), a 24/7 online claims portal (claims.flexinsurance.com.au), and the StrataTech and CHUniverse platforms for intermediaries and customers respectively.

Flex Insurance is a wholly owned subsidiary of CHU Underwriting Agencies Pty Ltd, Australia's largest strata insurance specialist with 40+ years of experience, which is in turn majority owned by ASX-listed Steadfast Group Ltd. The company operates under binding authority as an agent for Certain Underwriters at Lloyd's (managed by AXIS Syndicate 1686, for policies with sum insured ≤$25M) and QBE Insurance (Australia) Limited (for policies with sum insured >$25M, and legacy policies commenced prior to 31 August 2024). It distributes across two motions: self-serve digital for self-managed strata customers, and a broker/strata manager channel through the Stradfast-aligned intermediary network, the StrataTech platform, and dedicated phone support (1300 201 021). Revenue is generated through commissions on bound annual strata insurance premiums, with pricing quote-based and not publicly disclosed. Coverage spans all Australian states and territories with state-specific compliance.

Name

Flex Insurance

Legal name

CHUiSAVER Underwriting Agency Pty Ltd

Website

https://flexinsurance.com.au

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Flex Insurance is an Australian digital underwriting agency that designs and distributes modular residential strata insurance (Essential, Select, Plus) plus a complex-risk product, operating under binding authority for Lloyd's and QBE. It is a subsidiary of CHU Underwriting Agencies within the Steadfast Group, serving self-managed strata, brokers, and strata managers across all Australian states.

Ownership category

akta.pro rank

Product category

Strata Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Mixed-Use / Commercial Condominium BOP (FSAJAFAO)

Keywords

• Strata insurance
• Residential insurance
• Underwriting agency
• Digital insurance platform
• Insurance claims management

Headquarters

HQ city

North Sydney, NSW

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Strata Insurance Premiums: Flex Insurance generates revenue through annual insurance premiums for residential strata insurance policies. The company operates as a binding authority underwriting agency, acting as an agent for Certain Underwriters at Lloyd's and QBE Insurance (Australia) Limited. Policies are available in three tiers (Essential, Select, Plus) with varying levels of cover and optional add-ons. Premiums are influenced by building characteristics, location, sum insured, and selected coverage options.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Flex Insurance is Australia's first digital underwriting agency providing modular residential strata insurance under a binding authority for Certain Underwriters at Lloyd's and QBE Insurance (Australia). The company sells three tiered products (Flex Essential, Flex Select, Flex Plus) and the recently launched Flex Complex Strata Insurance, distributed via direct digital self-service to self-managed strata schemes and through insurance brokers and strata managers across all Australian states and territories.

Product overview

Flex Insurance offers a modular residential strata insurance platform with three main product tiers: Flex Essential (entry-level for smaller schemes), Flex Select (mid-tier with customizable options), and Flex Plus (comprehensive coverage). The portfolio also includes Flex Complex Strata Insurance (launched October 2025) for buildings with complex risk factors. The company provides digital access through its StrataTech platform for quotes, renewals, and policy management, and the CHUniverse portal for claims handling. An optional Builder and Restoration Panel supports customers through the repair process.

Differentiator

Problem solved

Functional benefit

Brands

• Flex Complex Strata Insurance: Custom insurance product designed for strata buildings with complex risk factors including high-risk occupancies, buildings with cladding issues or structural defects, and properties in alpine regions

Products and services

• Flex Essential Entry-level residential strata insurance tier for smaller strata schemes (10 lots or fewer, sum insured ≤$25M). Provides building and common property protection, personal injury liability, property damage liability, resultant damage from escape of liquid, and resultant damage from major faults and defects cover. Meets legal minimums for strata insurance.
• Flex Select Mid-tier residential strata insurance offering balanced coverage for buildings of any size. Allows selection between multiple optional covers with increased cover limits, including voluntary workers cover, fidelity guarantee, machinery breakdown, catastrophe cover, and more.
• Flex Plus Premium residential strata insurance tier providing comprehensive maximum coverage for buildings of any size. Includes all optional add-ons: voluntary workers (NSW compulsory), fidelity guarantee (SA compulsory), office bearers' legal liability, machinery breakdown, catastrophe insurance, government audit costs, appeal expenses and legal defence expenses, lot owners' fixtures and improvements.
• Flex Complex Strata Insurance Specialized insurance product for strata buildings with complex risk factors including high-risk occupancies, buildings with cladding issues or structural defects, and properties in alpine regions. Available exclusively through select insurance brokers for residential, commercial, and mixed-use strata buildings with total sum insured $25 million and below.

Quantifiable outcome

• 4.4 out of 5 customer rating on Feefo independent reviews
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• CHU Underwriting Agencies Pty LtdcoreOthersCHU Underwriting Agencies Pty Ltd (ABN 18 001 580 070, AFSL 243261) is the parent company of Flex Insurance. CHU is Australia's largest strata insurance specialist. Flex Insurance is a wholly owned subsidiary of CHU.
• Certain Underwriters at Lloyd'scoreTechnology or IntegrationFlex Insurance acts under a binding authority as an agent for Certain Underwriters at Lloyd's. Lloyd's provides the capital and underwriting capacity for Flex Insurance policies with total sum insured $25 million and below. Supported by Managing Agent AXIS Syndicate 1686 under Binder Agreement No (UMR) B123024FLE1451.
• QBE Insurance (Australia) LimitedcoreTechnology or IntegrationQBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239545) underwrites Flex Insurance policies. QBE covers policies commencing prior to 31 August 2024, and policies commencing from 1 September 2024 with a total sum insured above $25 million.
• Australian Reinsurance Pool Corporation (ARPC)minorStrategic or Co-development PartnerFlex Insurance joined the ARPC Cyclone Pool, allowing eligible buildings in cyclone-prone areas to access strata mitigation discounts. From 1 April 2025, Flex introduced five new underwriting questions to help customers access ARPC cyclone mitigation discounts.

Scale indicators5 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Strata Community Insurance (NSW): Specialist strata insurance provider serving NSW strata schemes with broker distribution. Operates in the same vertical with similar target customers (owners corporations, strata managers) and competes for the same complex and standard strata risks.
• CHU Underwriting Agencies: Flex Insurance's parent company and Australia's largest strata insurance specialist with 40+ years of experience. Operates in the same strata insurance vertical with overlapping broker distribution and shared back-office functions via Steadfast. Direct competitor to Flex in the strata market and the most natural comparability anchor.
• Honan Insurance Group: Australian brokerage with a dedicated strata and real estate insurance practice. Comparable as a specialist strata broker distributing on behalf of multiple insurers, competing for the same strata broker channel that Flex targets.

Broad incumbents

• QBE Insurance Australia: One of Australia's largest general insurers and a capacity provider to Flex via binding authority. QBE underwrites strata and other property lines directly and through intermediaries across Australia. Comparable as a broad P&C incumbent with overlapping strata exposure and significant Australian distribution scale.
• Aon Australia: Global insurance brokerage with a strong Australian presence and dedicated strata/property practice. Comparable as a broad incumbent broker that places strata business across multiple carriers and competes for the same strata broker channel.
• Allianz Australia: Major Australian general insurer offering strata, home, and commercial property insurance through broker and direct channels. Comparable as a broad incumbent P&C carrier with established strata practice and national distribution.
• Insurance Australia Group (NRMA Insurance): Large Australian insurance group offering home, contents, and strata-adjacent products with direct and intermediary distribution. Comparable as a broad incumbent with brand recognition and Australian scale relevant to residential property insurance customers.
• Marsh Australia: Global insurance broker with significant Australian operations serving corporate and commercial property clients. Comparable as a broad incumbent with overlapping strata and commercial property practice.

Emerging players

• Ansvar Insurance: Specialty insurer active in community, strata, and not-for-profit segments across Australia. Comparable as a niche insurer targeting strata-adjacent segments with broker distribution.
• Blue Zebra Insurance: Australian underwriting agency distributing through brokers with niche property and commercial lines. Comparable as an emerging underwriting agency model with broker-led distribution similar to Flex's intermediary channel.

Market position

Strengths5 records

Weaknesses2 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/flex-insurance-1

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Flex Insurance