Novo AI

Julien Condamines looked at the insurance industry—an $8 trillion global market that runs on paper trails, phone calls, and adjusters manually flipping through claim files like it's 1985—and said "there's got to be a better way." So he built Novo AI, a claims automation platform that uses GenAI to read, analyze, and explain documents from hospital invoices to police reports. It extracts data, screens for fraud, generates pricing insights, and equips customer support with AI that actually tells people what their policy covers instead of sending them in circles.

Here's the thing about insurance claims: they're notoriously slow, expensive to process, and ripe for fraud. The average claim takes weeks. Novo AI does it in minutes—screening 100 percent of documents for fraud and abuse while cutting claim leakage and improving loss ratios. They're based in Singapore and Hong Kong, which makes sense given the Asian insurance market is growing like crazy and the regulatory infrastructure is built for this kind of thing.

Everyone's building AI for flashy industries. Novo AI said "we're going after the $8 trillion insurance market and automating the most painful part of it" and honestly that's where the real money lives. The boring industries are where fortunes are made, and Novo AI just proved it.