Israeli Insurer Backs Tel Aviv-Based Startup Legal Automation

Tel Aviv-based Menora Mivtachim Holdings Ltd., one of Israel’s largest insurers, has invested $1.5 million in Tel Aviv-based startup Legal Automation Ltd., which develops a system for the automated analysis of insurance claim documents, the former announced Thursday. The current funding round brings Legal Automation’s total equity raised to date to nearly $2 million. Previous investors in the company include Mobileye co-founder and CEO Amnon Shashua.

Founded in 2017, Legal Automation uses artificial intelligence to automatically analyze insurance claims, estimate the right settlement fee for a claim, and find factors that may support its rejection. The company's system helps insurance companies save time and reduce human errors.