Company

Novo AI is a cutting-edge technology company focused on revolutionising the insurance industry through advanced artificial intelligence and large language models (LLMs). Founded by Gilbert Leung, a former Google Applied Machine Intelligence team member, Novo AI specialises in automating and optimising insurance processes across various verticals including health and motor insurance. Their solutions extract and analyse data from unstructured documents, enabling faster claims processing, fraud detection, and cost control. With successful implementations for clients like April International and Tokio Marine, Novo AI aims to drive the digital transformation of the trillion-dollar insurance industry, making it more efficient, accurate, and consumer-centric.

Description

Novo AI is a cutting-edge technology company focused on revolutionising the insurance industry through advanced artificial intelligence and large language models (LLMs). Founded by Gilbert Leung, a former Google Applied Machine Intelligence team member, Novo AI specialises in automating and optimising insurance processes across various verticals including health and motor insurance. Their solutions extract and analyse data from unstructured documents, enabling faster claims processing, fraud detection, and cost control. With successful implementations for clients like April International and Tokio Marine, Novo AI aims to drive the digital transformation of the trillion-dollar insurance industry, making it more efficient, accurate, and consumer-centric.

Novo AI's product is an advanced AI-powered solution for the insurance industry, leveraging Large Language Models (LLMs) to automate and optimise various insurance processes. The system can read and extract relevant information from unstructured documents in over 50 languages, including complex materials like medical reports and repair quotes. It categorises items, extracts key data points, and summarises important information for quick processing. The product is versatile, covering multiple insurance verticals such as health and motor insurance. It enables faster claims processing, fraud detection, and cost control. Key features include automatic data extraction, multi-language support, and the ability to analyse historical data for more accurate pricing and negotiation support.