PropTech platform calls for lower insurance premiums for compliant buildings

According to former ACCC Chair Graeme Samuel AC, now chairing Quipex, the root cause of rising insurance premiums is a "data black hole" across Australia's built environment.

"Unlike cars, buildings rarely come with a full-service history, so insurers are essentially flying blind," said Samuel. "The lack of verifiable data forces insurers to guess at risk, resulting in weaker valuations and increased safety risks that ultimately drives premiums higher."

Insurance premiums are rising 15-20% for strata buildings and up to 20% for industrial assets*. To mitigate these costs, Quipex is pioneering a new tool that gives every building its own digital logbook. From design and construction through to maintenance and compliance records, this logbook allows all data to sit in one secure, accessible platform.

At the core of the platform is Quipex's bespoke Building Integrity and Risk Culture scores which provide a living snapshot of each building's risk profile. Validated by an industry-leading fire engineering firm, these scores measure proactive safety, compliance, and risk management across both individual buildings, and entire portfolios, tracking both the status of compliance and the cultural trends that shape long-term risk outcomes.

Quipex CEO Stuart McWilliam says the platform can vastly improve consumer outcomes and lower costs for building owners by allowing insurers to price risk based on facts, not assumptions.

"A verified, accessible record of a building's history and maintenance—combined with real-time risk scoring—not only demonstrates its quality but also provides regulators and emergency services with actionable intelligence when it matters most. This leads to stronger valuations, safer buildings, and more informed decision-making for owners and buyers."

As one of Australia's foremost experts on building regulation, Quipex non-executive director Bronwyn Weir, believes the building itself should be the custodian of its data across its entire economic life.

"We have an unprecedented opportunity to create a single source of truth for building data," she said. "Done properly, this will improve compliance and safety and could transform consumer protection by enabling smarter data analytics and AI-driven insights."

Quipex has already secured customers across the broader property sector from community housing providers and builder-developers to commercial asset owners and aged care facilities. It is now raising capital to expand its platform with a materials provenance module which will track materials specified by architects through to the products installed.

"It's the next piece of the puzzle," McWilliam added. "Provenance tracking ensures that what's promised on paper is delivered in the building, helping to prevent issues like the combustible cladding crisis from recurring."

Quipex is open for its next round of capital raising. For more information, visit www.quipex.au

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Media Contact: Jo Waldon
Head of Growth
(e) jwaldon@quipex.au
(m) 0402 252 559
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About Quipex
Quipex is an Australian technology platform transforming transparency in the built environment. By making the building the custodian of its own verified data, Quipex empowers owners, insurers, regulators, and communities to make better decisions—reducing risk, lowering costs, and lifting confidence in Australia's property sector.
www.quipex.au
Key Stats
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97% of apartment buildings in NSW had at least one type of defect
(ref: The Chronic State of Building Defects in Australia | Voltin) (ref: Research on serious building defects in NSW strata communities | NSW Government)
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~90% of Victoria's multi-storey apartment buildings don't meet fire safety standards because property owners struggle to maintain increasingly complex systems, leafing residents at risk (ref: 'Wake-up call': Almost 90 per cent of Victorian apartment buildings don't comply with fire safety, The Age March 2025)
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53% of buildings reported serious defects in common property, an increase from 39% in 2021 (Ref: Research on serious building defects in NSW strata communities | NSW Government)
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Only 13% of buildings have been maintained appropriately and continue to comply with regulation (ref: 'Wake-up call': Almost 90 per cent of Victorian apartment buildings don't comply with fire safety, The Age March 2025)
* Honan lifts lid on dramatic strata premium increases | Insurance Business Australia