Offering values the firm at $1.6 billion; Lemonade replaces home insurance agents with bots

Lemonade's tech allows users to insure their homes by replacing agents with artificial intelligence and bots

Calcalist website says firm founded by Israeli entrepreneurs Shai Wininger and Daniel Schreiber will seek to raise more than $500 million to expand operations

Tel Aviv-based startup founded in 2010 saw revenue jump 45% to $75.5 million with a loss of $36.1 million in 2018, according to an SEC filing