Innovation thrives on the pursuit of improvement and the exploration of new possibilities.
Dr. Henna Karna
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Dr. Henna Karna is one expert who consistently demonstrates exceptional leadership in driving innovative initiatives. With her creativity and extensive experience in the tech industry, Henna is renowned for her unique strategies that lead to success.
When asked about the focus on actuarial technology, Henna shared, “Actuarial Science is the first form of Data Science. The Risk industry has been data scientists and data experts since the beginning. However, we now can bring together the analytics we perform on historical trends with what we can extrapolate and analyze about the near term. And, this is an evolution - not a transformation per say. I’m keen to recognize that we are taking what we do well and optimizing it with new technology, not necessarily replacing it altogether.”
As the Managing Director & Global Actuarial CIO at AIG, Henna deftly spearheaded initiatives resulting in an impressive $44 million in annual savings across multiple systems and countries. Demonstrating her acumen in using actuarial technology to manage insurance risk on a ground scale, she achieved significant cost reductions. Henna leveraged capabilities including Artificial Intelligence, Machine Learning, Natural Language Processing, and Large Language Models such as Generative AI.
Playing a leading role in transforming the organization into a tech-focused and data-driven business, she oversaw the development of AIG's first actuarial portal. She engaged with over 150 actuaries from 12 countries through workshops and interviews to ensure its success.
By analyzing consumer and commercial data, tackling complex challenges, and understanding interconnected systems, she identified and prioritized four distinct groups within the ecosystem that required specialized services. This optimization of actuarial processes and the creation of a comprehensive technology roadmap accelerated the digital transformation of the insurance field.
Henna's optimization of actuarial technology extends beyond cost savings. Her strategic approach to a digital, web-based transformation involves leveraging advanced technologies, utilizing data-driven insights, and enhancing operational efficiency. By embracing innovative solutions, organizations can streamline their processes, enhance accuracy, and gain a competitive advantage.
Visionary leadership and the ability to reimagine industry standards have allowed Henna to lead digital advancements that not only save costs but also enable organizations to make data-informed decisions and deliver exceptional customer experiences.
Her remarkable journey as a transformative leader in actuarial technology highlights her exceptional ability to optimize operations, drive cost savings, and spearhead tech transformations. Her creative mindset, combined with her extensive industry knowledge, has resulted in groundbreaking achievements that have revolutionized the actuarial field.
To stay updated on Henna’s inspiring work, follow her here.
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