How Novo AI Uses AI to Cut Claims Leakage: Julien Condamines on Fraud, Waste & Abuse | FS Brew
Renjit 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 Julian
00:10 Why Claims Matter
01:38 Meteorite Risks Ahead
03:30 Ideal Claims Team
06:42 Why Claims Lag Behind
08:51 Selling Into Insurers
12:07 Deal Cycles And Pricing
13:32 Leakage Drives ROI
14:47 Trust Speed Explainability
16:45 Claims Frustration Reality
16:57 Protection Beyond Payouts
17:05 Thailand Injury Scenario
17:32 Insurer As Trusted Guide
18:59 Novo AI Claims Automation
19:57 Stopping Fraud And Leakage
21:30 Advice For Gulf Insurers
23:45 Scaling Beyond Singapore
25:28 Rapid Fire Leadership
27:52 AI Trend And Big Risks
29:16 Kindness And Pay It Forward
31:00 Final Thanks And Shoutout
Renjit Philip:
Consulting: https://linktr.ee/futureustrategygroup/
Newsletter: https://www.onemorethinginai.com
Work: https://www.futureu.co
Socials:
Twitter / X: @renjitphilip
LinkedIn:
https://www.linkedin.com/in/renjit-philip
Vidya Veerapandian:
https://www.linkedin.com/in/vidya-veerapandian/
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