Seven Australian insurtechs have been selected to take part in a virtual insurtech bootcamp run out of Israel.

The initiative was organised by Insurtech Australia in partnership with the Australian Trade and Investment Commission (Austrade) and Tel Aviv-headquartered open innovation company SOSA.

Applications to the scheme have been whittled down to seven successful companies. The bootcamp will run for a week next month, and includes tailored workshops and one-on-one development advice.

Israel is emerging as a global leader in insurtech, propelled by expertise in cybersecurity, artificial intelligence and cloud computing.

“The purpose of the boot camp is to help support these companies grow and scale internationally,” Insurtech Australia CEO Rita Yates told insuranceNEWS.com.au.

The seven insurtechs that have been accepted into the Bootcamp are:

• Transport industry claims manager FreightSafe

• Tech-driven insurance company Open Insurance

• Digital claims management firm ClaimSpace

• Catastrophe risk modeller reask

• Cyber risk prevention company BCyber

• Chronic pain support scheme Amelio Health

• Workplace injury prevention program provider Preventure