Q&A with Oren Levy, Comprendo.ai CEO
* What does Comprendo.ai do?
Levy: Comprendo.AI has a patent pending proprietary platform for accurate and compliant Artificial Intelligence (AI) models that explain the reasoning behind their decisions.
* Why is it important to be able to explain the AI decisions?
Levy: There is no future for the use of artificial intelligence without the ability to explain the decisions these algorithms make. The ability to explain AI decisions is important because it allows the companies that use these models as well as anyone else influenced by AI driven decisions to trust these decisions.
Regulators have realized the importance of explainability, and it is probably the most important subject in any AI related legislation. For example, General Data Protection Regulation (GDPR), establishes the right for an explanation when an automatic algorithm makes a decision that influences you.
In addition to trust and compliance, explainability can also identify and prevent potential biased decisions (based on gender, race, and other irrelevant factors).
* How do insurers use AI models?
Levy: AI in insurance can be used in practically every aspect of the insurance business, including:
- accurate risk assessment and ultimately underwriting/pricing
- optimal solvency ratio
- identifying fraudulent claims
- personalized insurance product recommendations
* Why do they have to explain the decisions?
Levy: In addition to being compliant with regulatory requirements, explanations improve significantly the bottom line. Explanations create trust, increasing conversion rates and resulting in higher revenues (and profits) for the insurance companies.
* What companies are you currently working with (Insurance and other sectors)?
Levy: We are working with a variety of customers, mainly in regulated sectors, such as insurance, health, and financial services.
* What investments were made in the company so far?
Levy: We are completely self funded
* Tell me about your professional background
Levy: I have been a startup business executive for over 15 years in the US and Israel. My most recent operational position was as VP Corporate Development at AppsFlyer. Before my startup career, I was a finance manager in Micorosft’s headquarters partners group. I have an MBA from Columbia Business School, and undergraduate degrees in law and economics from the Hebrew University of Jerusalem.