Overview
Novo AI is a claims technology platform for insurers in the APAC region that uses generative AI and large language models to automate claims operations. The company is headquartered in Singapore with an additional office at Hong Kong Science Park, and serves health and motor insurance carriers seeking to reduce manual processing, improve loss ratios, and streamline adjudication workflows.
The platform processes unstructured insurance documents -- hospital invoices, police reports, repair quotes, and legal correspondence -- extracting structured data across 50+ languages. It automates document ingestion, screens claims for fraud and abuse, and surfaces cost insights to help carriers manage pricing and medical inflation exposure. The solution is delivered as SaaS and is designed to integrate into existing insurance operations.
Novo AI counts April International and Tokio Marine among its early customers. A documented case study with April International reported up to 70% productivity improvement and 15% reduction in operational costs. The company was founded by ex-Google engineers Gilbert Leung (CEO) and Julien Condamines (CSO) and has received seed funding from First Round Capital.
Products & Services
Claims Processing Automation
AI-driven extraction and analysis of claim documents including hospital invoices, police reports, and legal correspondence. Supports 50+ languages, reducing manual data entry and accelerating adjudication cycles.
Key Features
- Automated document ingestion and structured data extraction
- 50+ language support for international claims
- Integration into existing claims workflows
Target Users: Insurance carriers in health and motor lines
Fraud and Abuse Detection
Screens 100% of submitted claims documents for fraud and abuse patterns, enabling insurers to reduce claim leakage and improve loss ratios before payment.
Key Features
- 100% claim screening coverage
- Anomaly flagging prior to payment
- Supports both health and motor verticals
Target Users: Claims operations and SIU teams at insurers
Pricing and Cost Insights
Analyzes claims data to monitor price trends, identify cost drivers, and support strategic pricing adjustments and medical inflation hedging.
Key Features
- Medical cost benchmarking across claims
- Price trend monitoring
- Insight reporting for actuarial and pricing teams
Target Users: Actuarial, pricing, and underwriting teams
Customer Communication Tools
AI-driven tools to generate accurate explanations of coverage decisions for policyholders, supporting faster resolution and reducing disputes.
Key Features
- Automated coverage explanation generation
- Designed to reduce inbound dispute volume
- Consistent communication across claim outcomes
Target Users: Claims and customer service teams
At a Glance
- Founded
- 2020
- Headquarters
- Singapore
- Employees
- 1-10
- Funding
- Seed
Category & Focus
- Category
- Claims Technology
- Subcategories
- Claims Automation Fraud Detection Document Management
- Insurance Verticals
- Health P&C Personal P&C Commercial
- Target Customers
- Carriers
Customers
- April International (health insurance, APAC -- 70% productivity improvement, 15% cost reduction)
- Tokio Marine (health and motor insurance)
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Last updated: 2026-06-04