Construction compliance platform Quipex says it has created a digital tool to store building maintenance records and fill a “data black hole” that is driving up property premiums.

“Insurance premiums are rising … To mitigate these costs, Quipex is pioneering a new tool that gives every building its own digital logbook,” it said.

“From design and construction through to maintenance and compliance records, this logbook allows all data to sit in one secure, accessible platform.”

Using artificial intelligence and diagnostics, the tool can flag risks and automatically create “clear, actionable steps” for asset owners or managers to resolve them, Quipex says.

Chair Graeme Samuel, who used to head the Australian Competition and Consumer Commission, said: “Unlike cars, buildings rarely come with a full service history, so insurers are essentially flying blind.

“The lack of verifiable data forces insurers to guess at risk, resulting in weaker valuations and increased safety risks that ultimately drive premiums higher.” 

CEO Stuart McWilliam says the platform can cut costs for building owners by allowing insurers to price risk based on facts.

“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.”