Upstage, NH Nonghyup Life Sign MOU for Insurance AI Cooperation

Upstage has teamed up with NH Nonghyup Life to sign a business agreement for insurance operation efficiency and AI internalization. The signing ceremony was held on the 30th at NH Nonghyup Life's headquarters in Seodaemun-gu, with key executives including Upstage CEO Kim Sung-hoon and NH Nonghyup Life CEO Yoon Hae-jin in attendance.

The two companies will jointly pursue data operation efficiency, insurance value chain improvement, development of AI models specialized for the insurance industry, and discovery of new AI-linked businesses. In particular, they plan to advance automation across insurance operations using AI OCR and generative AI, and to expand the scope of application to the financial sector and other industries through Upstage's Document AI and SOLAR-based private LLM expansion.

Upstage emphasized that its Document AI recorded over 95% accuracy in a recognition rate verification test for 7 types of insurance claim documents conducted with Samsung Life. Having already been adopted not only by Samsung Life and Hanwha Life but also by POSCO Holdings, Samsung SDS, and HD Hyundai Global Service, Upstage sees this collaboration as an opportunity to broaden the foundation for digital transformation and joint growth in the insurance industry.