Sync Technologies wins the 2023 ITC Asia Award for Australia

In recognition of its exceptional insurance solution, Sync Technologies (SyncTech) has been awarded the 2023 InsurTech ITC Asia Award for Australia and will compete for the #1 Place in Asia.

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Co-Founder and CEO of SyncTech, Carolina Dreifuss says:

“Sync Technologies is honoured to receive this award and represent Australia at the world’s largest gathering of insurance leaders and innovators – the InsurTech Connect Asia 2023 in May 2023.”

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The ITC Asia Awards honour new technologies in and around the insurance industry for outstanding contributions to transforming the insurance world. ITC Asia gathered the best InsureTech players from across the region through the series of ITC Asia Roadshows, with the winners of each country competing during InsureTech Connect Asia 2023 in Singapore.

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Over the past few years, Australia has faced a surge in catastrophic events and the insurance industry has to manage hundreds of thousands of claims in addition to the regular property claims. “There are just too many claims and not enough resources to gather on-site data quickly enough,” says Dreifuss.

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As a consequence, 63% of flood claims from VIC/NSW/TAS since last October remain unprocessed. SyncTech assists in resolving this issue by granting claims managers access to visual property data within 48 hours after attendance, allowing for an effective desktop assessment to be conducted.

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“At SyncTech, we offer visual property data claims support for claims management companies by providing internal and external digital twins within 48 hours, enabling desktop assessment, and collaboration across stakeholders,” says Dreifuss, “Our claims take two days, instead of the usual 10 days for traditional claims; saving over 7,000 working days to date.” SyncTech’s solution has been well received by industry partners across Australia.

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“I'm looking forward to competing in Singapore and am excited to see where Sync Tech goes next,” says Dreifuss, “With strong demands also from the UK, we are now fundraising our seed round for expansion.”

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Read the full article here.