Upstage AI OCR solution 'Document AI', evaluation of document automation in the insurance industry
2023/10/25Upstage Document AI achieves 95% recognition rate for 7 types of Samsung Life documents... highest level in the industry
Supports work and labor efficiency by automating some documents and requiring minimal inspection
Utilizing pre-learning models, ensuring highest accuracy even with minimal data learning costs
(Upstage = 2023/10/25) The financial-specific AI optical character recognition (OCR) solution supplied by AI startup Upstage to Samsung Life Insurance, Korea's No. 1 life insurance company, achieved the highest accuracy in the industry and achieved the highest level of difficulty in document automation. It was also evaluated by the insurance industry as having achieved document automation.
Upstage (CEO Kim Seong-hoon) announced that its representative AI OCR solution, 'Document AI', which it supplied to Samsung Life Insurance in April, achieved a high accuracy of over 95 points on average in document recognition rate.
UPSTAGE AND SAMSUNG LIFE INSURANCE VERIFIED THE OCR RECOGNITION RATE ON 7 TYPES OF INSURANCE CLAIM DOCUMENTS, INCLUDING MEDICAL RECEIPTS, AND ACHIEVED AN AVERAGE ACCURACY OF 95%, SIGNIFICANTLY EXCEEDING THE ORIGINAL TARGET OF 90%.
OCR IS AN AI TECHNOLOGY THAT EXTRACTS CHARACTERS IN IMAGES INTO TEXT DATA. THE LEVEL OF DIFFICULTY VARIES DEPENDING ON THE TYPE OF IMAGE, AND PROCESSING INSURANCE DOCUMENTS IS CONSIDERED THE MOST DIFFICULT. IN THE CASE OF MEDICAL FEE RECEIPTS, THE DOCUMENT FORMAT VARIES GREATLY FROM HOSPITAL TO HOSPITAL AND CONTAINS A LOT OF UNSTRUCTURED DATA SUCH AS HANDWRITING, REQUIRING SOPHISTICATED RECOGNITION TECHNOLOGY.
FOR THIS REASON, MOST THIRD-PARTY OCR MODELS, WHICH USUALLY CONVERGE TO THE 80S, REQUIRE HUMAN INSPECTION OF DOCUMENTS. HOWEVER, IN THE CASE OF THE UPSTAGE MODEL, WHICH SCORED IN THE MID TO HIGH 90S IN A TEST WITH SAMSUNG LIFE INSURANCE, ONLY ABOUT 4% OF THE ITEMS REQUIRED ACTUAL HUMAN CORRECTION, DEMONSTRATING THAT A SIGNIFICANT PORTION OF IT CAN BE AUTOMATED.
Additionally, the versatility of the model was largely responsible for the high scores. Upstage Document AI can process various types of documents by additionally learning new data based on a pre-learning model. In this collaboration with Samsung Life Insurance, Upstage used Samsung Life Insurance data only for pharmaceutical receipt items, and ran only the basic model for the remaining six types of documents, recording an average recognition rate of over 95%.
In addition, it received attention by accurately recognizing images with tilted angles, wrinkles, and shadows. Recently, as the demand for processing documents taken with smartphones has increased, Upstage's technology that accurately extracts text from high-definition images taken in various real-life environments has stood out.
THROUGH THIS COLLABORATION WITH SAMSUNG LIFE INSURANCE, UPSTAGE HAS ESTABLISHED A SUCCESS STORY IN AUTOMATION IN THE INSURANCE DOMAIN, WHICH IS CONSIDERED DIFFICULT. THIS ACHIEVEMENT PROVES THAT IN THE FUTURE, AI OCR CAN BE EASILY IMPLEMENTED TO IMPLEMENT TASK AUTOMATION NOT ONLY IN THE FINANCIAL SECTOR SUCH AS BANKS, BUT ALSO IN VARIOUS INDUSTRIES SUCH AS TRADE, DISTRIBUTION, AND EDUCATION.
Samsung Life Insurance announced that with the introduction of Upstage Document AI, it has been able to automate the entire process from data input to screening and insurance payment, creating an environment in which prompt payment is possible even in a situation where insurance claims are rapidly increasing and providing uniform service at all times.
Upstage's AI OCR technology is already recognized as the best in the industry. Upstage has presented numerous papers at international AI conferences such as NeurlPS, AAAI, ACL, and EMNLP, and recently won four awards at the world's most prestigious AI OCR competition hosted by the International Conference on Document Analysis and Recognition (ICDAR). swept away
In the future, Upstage plans to strengthen cooperation with Samsung Life Insurance and further expand the scope of OCR application, including expanding insurance claim documents. Upstage Document AI is already being introduced in various industries, including POSCO Holdings, Samsung SDS, and HD Hyundai Global Service, as well as financial institutions such as Samsung Life Insurance and Hanwha Life Insurance.
A Samsung Life Insurance official said, “Through this collaboration with Upstage, we have strengthened the insurance payment service, which is the core value of insurance,” and added, “We will continue to make efforts to innovate the customer experience by utilizing various digital technologies.” .
KIM SEONG-HOON, CEO OF UPSTAGE, SAID, “WE ARE PLEASED TO HAVE UPSTAGE’S WORLD-CLASS AI OCR TECHNOLOGY RECOGNIZED IN COLLABORATION WITH SAMSUNG LIFE INSURANCE, KOREA’S NO. 1 LIFE INSURANCE COMPANY.” HE ADDED, “IN THE FUTURE, UPSTAGE WILL PROVIDE AI SOLUTIONS SPECIALIZED IN VARIOUS DOMAINS, NOT JUST FINANCE, TO HELP COMPANIES “WE WILL SUPPORT DIGITAL TRANSFORMATION,” HE SAID.
Meanwhile, Upstage Document AI is a total AI solution that extracts letters and information from documents in various image formats and digitizes them. It reduces costs and time by up to 82% compared to manual processing methods, and with a pre-learning model, performance can be secured even with only one-fourth of the data compared to other companies. It supports two methods: 'Personal', which can be easily used in the cloud in the form of an API, and 'Enterprise', which provides a domain customized interface according to corporate requirements.
※ Photo caption: Upstage (CEO Kim Seong-hoon) announced that its representative AI OCR solution, ‘Document AI’, which it supplied to Samsung Life Insurance last April, achieved a high accuracy of over 95 points on average for document recognition.
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Upstage | Geun-Kyo Kim, General Director of Brand Communication | keunkyo@upstage.ai
Upstage | Seongbeom Bae Brand Communication Manager | sungbae@upstage.aiDownload press release
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Upstage is a leading domestic AI startup established in October 2020. Upstage stands out in the large language model (LLM) industry by taking first place on the Hugging Face leaderboard with performance exceeding ChatGPT's benchmark score for the first time in OpenLLM history. Based on these technologies, we present a reliable private LLM standard that maximizes data security and solves hallucination, helping companies conveniently use cutting-edge technology. In addition, Upstage's Chat AI 'AskUp' has over 1.4 million users, establishing itself as the largest AI service in Korea. Document AI Pack, another Upstage representative solution, utilizes AI OCR technology that has won the world's most prestigious OCR competition to automate documents by increasing efficiency and accuracy. By optimizing document processing through a pre-trained model with minimal data, cost and time are dramatically minimized compared to manual methods. Lastly, through the education program 'EduStage', we are also actively engaged in the educational content business that fosters differentiated professional talent who can be immediately put into AI business through hands-on education that incorporates AI business experience and solid AI basic education.
Upstage is comprised of members from global big tech companies such as Google, Apple, Amazon, NVIDIA, Meta, and Naver, and has participated in many world-renowned AI academic societies such as NeurlPS, ICLR, CVPR, ECCV, WWW, CHI, WSDM, and DMLR. We are solidifying our unrivaled leadership in AI technology by publishing excellent papers and becoming the only domestic company to win double-digit gold medals in the online AI competition Kaggle. While working as a professor at the Hong Kong University of Science and Technology, Upstage CEO Kim Seong-hoon won the ACM Sigsoft Distinguished Paper Award, the best paper award, four times for his research on bug prediction and automatic source code generation that combined software engineering and machine learning, and won 10 awards at the International Conference on Software Maintenance. He is considered a world-class AI guru who received the most influential paper award in 2018, and is also widely known as an instructor of 'Deep Learning for Everyone' with a total of more than 7 million views. Additionally, Upstage's co-founders include CTO Lee Tal-seok, who led Naver Visual AI/OCR and achieved world-class results, and CSO Park Eun-jung, who led the model team of Papago, the world's best translator.
