LegalFly offers a solution to optimize legal operations, from contract review to data extraction in all legal and financial documents. With LegalFly, thousands of legal professionals save time, reduce costs, and mitigate compliance risks thanks to our cutting-edge AI technology. Founded in early 2023 by four former Tinder developers, LegalFly’s mission is to transform the legal field, bringing unprecedented productivity gains and cost savings to professionals in the sector. Their flagship solution, designed to perfect each stage of the legal workflow, is powered by a seamless interface that instantly converts complex documents into actionable insights through sophisticated AI algorithms. At the ACA Innovation Award 2024, LegalFly teamed up with their mentors — Luc Rasschaert, Grégory Weber, Marc Hotton, and Guillaume Hombourger — to tackle a major challenge for Luxembourg’s insurance and reinsurance industry: DORA (Digital Operational Resilience Act) compliance. In just four hours, they deployed the LegalFly Copilot solution, enabling insurers to scan hundreds of critical IT contracts to ensure DORA compliance, thereby saving thousands of hours of legal work.
The ACA Innovation Award 2024, organized by the Association of Insurance and Reinsurance Companies (ACA), is a flagship event in Luxembourg aimed at promoting innovation within the insurance sector. This competition brings together startups, insurers, reinsurers, and members of the ACA ecosystem for a day dedicated to collaboration and creativity.
This year’s finalists presented innovative solutions focused on two essential themes: automation and digitization of processes, and optimization of customer relations. With the support of sponsors and guidance from ACA members, the startups were able to refine their projects, showcase their potential, and move closer to establishing strategic partnerships with Luxembourg insurers. This event reinforces ACA’s role as a catalyst for innovation in insurance, facilitating collaborations and paving the way for the adoption of new technologies within the industry.
