Sydney-based construction data firm Sync Technologies has won the Lloyd’s Lab Pitch Competition at InsureTech Connect Asia 2023. 

The startup was attending as part of the Insurtech Australia (IA) delegation of nine that traveled to Singapore to showcase opportunities for collaboration.   

Co-Founder and CEO Carolina Dreifuss detailed how Sync’s visual property data had cut insurer claim assessment times and travel costs by up to 75% and “saved over 7000 working days”. 

Ms Dreifuss now heads to London to present at the next Lloyd’s Lab pitch day. 

“What an absolute honour and I'm so proud of the incredible team at Sync Technologies. Together we continue to innovate, disrupt, and create a better world,” Ms Dreifuss said. “Thank you to Lloyd's and the esteemed panel for this great recognition. The competition was intense!” 

The insurtech competed against Blackpanda, CryptoLock, Eleos Labs, FRISS, Protos Labs and Weather Risk Management Services. 

“We extend our gratitude to all the startups who showcased their groundbreaking ideas and impressed our esteemed panel of judges,” ITC Asia said. 

Sønr Global and InsureTech Connect's Forward50 APAC report was released at the event, with Reask, Honey Insurance, upcover, Kanopi, SyncTechnologies , Auckland-based Sentro, KOBA Insurance and LifeBid all featured. 

“We're so pleased to see so many of our members on the Top 50 insurtechs list,” IA said. 

The report says 30% of the 50 are from India, 18% from Singapore and 16% from Australia. That was followed by Indonesia and Hong Kong, both on 8%, with the remaining companies located across Malaysia, China, Vietnam, Thailand and New Zealand. Local auto insurtech Koba was also on the list.