Breaking Barriers in Insurance: Julien Condamines' Vision for Claims with Novo AI

How Novo AI Uses AI to Cut Claims Leakage: Julien Condamines on Fraud, Waste & Abuse | FS BrewRenjit and co-host Vidya welcome Julien Condamines, co-founder of Novo AI, to the FS Brew Insurtech podcast to discuss why he chose claims as the starting point for innovation and how Novo AI now focuses on reducing fraud, waste, and abuse. Julien describes insurers facing rising medical inflation, legacy claims operations that fail to capture usable data, and regulatory premium caps that worsen loss ratios, making leakage control critical to sustainability. He outlines what an ideal claims team looks like with automated data extraction and medical coding, minimal manual intervention for clean claims, and faster clinical review of flagged cases to prevent unnecessary or abusive billing. The conversation also covers the difficulty of selling to insurers, typical enterprise sales cycles and pricing tied to claim volumes, ROI from leakage reduction, and Novo AI’s expansion beyond Singapore into regional and global markets.00:00 Welcome Julian00:10 Why Claims Matter01:38 Meteorite Risks Ahead03:30 Ideal Claims Team06:42 Why Claims Lag Behind08:51 Selling Into Insurers12:07 Deal Cycles And Pricing13:32 Leakage Drives ROI14:47 Trust Speed Explainability16:45 Claims Frustration Reality16:57 Protection Beyond Payouts17:05 Thailand Injury Scenario17:32 Insurer As Trusted Guide18:59 Novo AI Claims Automation19:57 Stopping Fraud And Leakage21:30 Advice For Gulf Insurers23:45 Scaling Beyond Singapore25:28 Rapid Fire Leadership27:52 AI Trend And Big Risks29:16 Kindness And Pay It Forward31:00 Final Thanks And ShoutoutRenjit Philip:Consulting: https://linktr.ee/futureustrategygroup/Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠Work: https://www.futureu.coSocials:Twitter / X: @renjitphilipLinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠Vidya Veerapandian:⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠I’ve got a favour to ask! If you enjoy this conversation, please double check that you’ve liked the video and subscribed to the channel! That's a small way you can help us carry on doing this, really appreciate you!