Novo AI
By Novo AINovo AI combines GenAI with advanced technologies to transform claims processing, fraud & abuse prevention and workflow optimization in the insurance sector. Our platform reads, analyzes and interprets unstructured documents - including policy wordings, claims files, manual annotations, stamps, and other non-digital data - across all Asian languages, including handwritten notes. With rapid implementation timelines, our solution has demonstrated significant success, boosting efficiency by 10x and achieving higher accuracy than human teams. As a result, Novo AI can reduce loss ratios by 5% within just a few months of deployment.
- Stage
- In production
- Industries
- Banking and finance
- Healthcare
- Technology
- Deployment
- Hybrid
Why it is worth it
We're building the new intelligence layer for insurers, leveraging data they could never access before. Currently, that makes us the expert in abuse prevention, both at the quote stage and at the portfolio level, enabling unparalleled loss ratio improvement Over time, this translates into feeding insights to the rest of the organisation, enabling custom product design, accurate pricing, real-time risk detection & enhanced risk modelling
- Straight Through Processes simple & complex claims
- Automates over 90% of the claim workflow
- Flags inconsistencies & suspicious items for manual reviews
- Provides summaries & insights, enabling fast review & explainability
- Flags abuse at quote/pre-authorization stage to prevent unecessary expenses
- Identifies billing patterns, trends and inflation drivers at the portfolio level to enable effective cost containment strategies
Opening the deck…
Page 1
Best customer profile
Large insurers, Assistance companies & TPAs with high frequency and/or complexity of claims in Health or General Insurance (motor, travel, P&C, pet...)
Notable paying customers
- Tokio Marine April Insurance Asia Capital Re Henner Group
10x ARR from 2024 to 2025, on track to hit $1M by mid-2026 Operating in 4 countries (SG, HK, VN & TH) and processing claims from another 25 Zero churn Currently expanding operations with April insurance to Europe and with Tokio Marine to Life Insurance Currently onboarding 3 new large clients signed in 2025