The winner of this year’s Australian and New Zealand Institute of Insurance and Finance’s (ANZIIF) Insurtech Start-Up of the Year award, Sync Technologies (SyncTech), says it aims to grow at home and abroad.  

SyncTech CEO Carolina Dreifuss, who co-founded the insurtech in 2020, says her team was “thrilled” to receive the award to highlight the value of their work as it continues to deliver for insurers.  

“Being named the Insurtech Start-up of the Year is further affirmation that we are delivering effective transformational solutions to the Insurance Industry to help the industry deliver its promise to their customers,” Ms Dreifuss said.   

"Our primary focus right now is to continue scaling our offerings across Australia, as our home market. Developing our presence in London, a global insurance hub, is a strategic imperative for SyncTech in the years ahead.

"Our recent participation in a major London-based pitch competition, vying for a spot in an Accelerator program, not only provided invaluable networking opportunities but also marked a pivotal step in elevating the SyncTech brand within this key market. We're committed to nurturing our relationships and collaborating with industry leaders as we steer our course towards greater presence in the UK."

Judges praised the firm for its platform to offer users access to technologies, such as its internal and external rendering of properties that insurers would otherwise not have available to them.   

The insurtech has worked with insurers across catastrophic events, including during the last year’s heavy flooding in Queensland and NSW, where it offered simulations of flooding and water levels inside digital models.   

SyncTech says its rendering technology, alongside its AI-driven defect detection solutions, works to improve loss adjusters and other practitioners’ ability to simplify building claims, with a targeted goal of fast-tracking the work of insurers.  

“SyncTech’s digital solutions allows insurance loss assessments to be complete within 48 hours rather than industry practice of five to ten days resulting in improved customer outcomes and reducing pressure on insurance premiums,” SyncTech said. 

Sedgwick Australia CEO Diego Ascani presented the award on the night, describing SyncTech as the stand-out company in a “fiercely competitive category”.   

“Their innovative solution has not only impressed the judges but has also delivered exceptional results in solving complex problems in a variety of industries,” Mr Ascani said.   

“Their platform has revolutionised the way the insurance sector approaches challenges, offering a faster and more effective solution that has significantly reduced initial assessment time. 

“Furthermore, their commitment to continuous improvement and their ability to adapt to changing market conditions have set them apart as a true leader in the field.”