Steadfast-owned strata specialist Corporate Home Underwriting (CHU) is to establish a digital arm to stamp its presence in the rapidly growing market created by insurtech.

More details about CHUiSaver’s first product – residential strata cover underwritten by QBE – will be available when its Australian financial services licence is granted.

“There is a strong need for low-cost strata products in the current environment,” CHU CEO Bobby Lehane said.

“With the increased use of technology, CHUiSaver will deliver high-quality strata products at lower cost.”

CHUiSaver will transact business online through its in-house Stratatech platform, a self-service policy and claims management system.

CHU was established in Sydney in 1978. It created the first strata insurance plan in Australia and has grown to be a leader in the field.

Steadfast acquired CHU from QBE in February last year.