Commercial insurance broking platform Upcover has won the excellence in insurtech category at the 10th annual Finnie Awards.

Winners were announced on Thursday night in Sydney after being chosen from 321 entries across 22 categories.

Upcover CEO Skye Theodorou says the honour marks “a proud moment for our team and a strong signal that commercial insurance is finally being reimagined for how modern businesses actually operate. This recognition reflects the trust our customers place in us, the quality of our team and the scale of the opportunity still ahead.”

Upcover – which completed a $19 million funding round in February last year – beat category finalists Kanopi, myVal and the FreightSafe Group.

It was also a finalist in the awards for best application of AI in finance, best workplace diversity (which it won last year), female fintech leader of the year for Ms Theodorou, and outstanding fintech leader for COO Anish Sinha.

Rehan D’Almeida, CEO of awards organiser FinTech Australia, says there are almost 900 financial technology companies in the country. “The Finnies are highly competitive awards and represent a milestone for these companies in a challenging regulatory and economic environment.”