APRIL International’s efficiency has been significantly enhanced by 400% through the implementation of Novo AI’s solution.

WNPH | SINGAPORE, — Novo AI advanced solution has significantly improved APRIL International’s performance across Thailand, Vietnam, Hong Kong, and Singapore, resulting in a more than threefold increase in efficiency and setting new benchmarks in private medical insurance. The previously slow and costly process has now become faster, more profitable, and is leading to increased customer satisfaction.

Pressing Challenges in the Insurance Sector

As a key player in the private medical insurance sector, APRIL International has been facing challenges in managing large volumes of complex medical claims. The influx of non-standard documents has required significant manpower to interpret and validate unstructured data, leading to inefficiencies and high operational costs.

Moreover, regional fraud and abuse levels vary between 15%-35% across different countries, highlighting the need for a solution that can effectively detect fraud and abuse at scale, improve efficiency, and enhance profitability.

Innovative Solutions to Address Old Problems

To address these challenges, APRIL International sought a solution to eliminate critical operational inefficiencies. Streamlining document ingestion and management for healthcare claims was a top priority, enabling real-time detection of inconsistencies across claims, providers, and practitioner data. The solution needed to ensure high accuracy across all claims and be quickly deployable.

Novo AI provided the answer with their advanced solution, which resulted in a 230% increase in productivity and a 400% improvement in efficiency for APRIL International. Tasks that previously took 10 days can now be completed in just 2 days, with the system surpassing human accuracy in processing digital data, handwriting, and stamps.

The CEO of Novo AI stated, “Our solution provides high accuracy claim-handling from the start and can adapt to specific business needs without requiring retraining. By streamlining claim processing and fraud detection independently of policy writing, we are able to expedite claim management, leading to increased customer satisfaction for APRIL International and for Novo AI.”

The CEO of APRIL International commented, “Insurance operations involve processing large amounts of data on a daily basis. Novo AI has enabled us to accelerate our claims processing, detect fraud and abuse, reduce unnecessary expenses, and improve loss ratios across the region. We look forward to further developments that will enhance customer experience and profitability.”

This successful collaboration represents a significant innovation in the insurance industry, setting new standards. As Novo AI moves towards widespread adoption, they are preparing to introduce more groundbreaking GenAI solutions.

For more information, please contact partnerships@heynovo.ai.

Source: Novo AI