Novo AI

Novo AI - Transforming Insurance with Generative AI

Novo AI brings Generative AI and Large Language Models to the insurance sector to read, analyze, and explain text documents—from policy documents to claims files. The platform enables end-to-end automation to streamline operations, enhance insights, and improve loss ratios through smarter claims processing, fraud detection, pricing insights, and improved customer support.

Key Capabilities

• End-to-end automation for insurance processes, with a focus on claims processing and customer support
• Read, analyze, and explain complex text documents (policies, claims, invoices, reports, etc.)
• Fraud detection and abuse screening across 100% of documents
• Generate actionable insights to monitor price trends and optimize pricing strategies
• AI-driven customer support tools to explain coverage decisions quickly and accurately

How It Works

1. Ingests claim-related documents (hospital invoices, police reports, legal correspondence, etc.)
2. Uses AI to extract structured data and analyze content for decision support
3. Flags potential fraud/abuse and surfaces insights to drive pricing and customer interactions
4. Provides clear explanations to customers about coverage decisions to improve satisfaction

Targeted Outcomes

• Reduced claim leakage and improved loss ratios through fraud detection
• Dynamic pricing optimization aligned with market trends
• Faster, clearer customer communications and improved satisfaction

Availability & Partners

• AGMI (APAC) Pte Ltd — Singapore
• Novo AI (HK) Limited — Hong Kong
• Copyright © 2025 AGMI (APAC) Pte Ltd. All rights reserved.

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How to Use Novo AI

1. Provide insurance-related documents for processing
2. Let Novo AI extract data, identify fraud indicators, and generate insights
3. Review AI-generated explanations for coverage decisions and pricing actions

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Safety and Compliance

• Designed for enterprise use in insurance; ensure proper governance and data handling per regional regulations.

Core Features

• End-to-end insurance process automation (claims processing, customer support)
• Advanced text analysis and document understanding for policy and claims files
• 100% document fraud and abuse screening
• Actionable insights on pricing trends and cost drivers
• AI-driven customer explanation of coverage decisions
• Multi-region availability (APAC, Hong Kong) for global insurance operations