“Authenticity and transparency are now table stakes – these are the foundations of a digital era.” – Henna Karna.
With ChatGPT4, BARD, and other Large Language Models, the digitalization of everything becomes inevitable. The risk and Insurance industry, traditionally reliant on manual detection and restoration processes, has been undergoing a significant transformation with the advent of data, analytics, and leveraging artificial intelligence optimally. In this regard, tech innovation leader, Henna Karna, is a prominent name owing to her revolutionary role in upscaling and advancing industry standards.
Since 2021, there has been a surge in data expenditure, laying the foundation for the development of sustainable analytic cores capable of higher-order processing as well as the necessary material to train and maintain artificial intelligence models.
Now, the products and solutions must align with companies’ goals of higher profitability through improved risk selection and revenue growth. This can be achieved sustainably by higher conversion rates or reduced combined ratios.
Henna Karna, with her unwavering commitment to building resilience in the world, understands the pivotal role large-scale data, analytics, and artificial intelligence must play in managing and mitigating risk. Building analytics at scale is the first step to risk mitigation and recovery solutions.
Many insurance and risk management companies struggle with multiple policy admin systems (PAS) and limited access to data; this hampers the fundamental business requirements of insurance firms and brings an increasing’ insurance gap’ of $162B approaching $1.2T.
Henna, set on enhancing the scope of risk management with her experience in the industry, wants to make a flywheel that will evolve the impact of what the industry provides to customers. The companies can then use the given analytics to become more customer-centric, more transparent, and more trusted. This transformative approach will enable firms to grow profitably while constructing optimal portfolios and preemptively preventing risks. Additionally, emerging risks will be evaluated to help alleviate the protection gap.
The innovations by Henna Karna have certainly made life easier for companies. She has launched 11 strategic partnerships to fill industry portfolio gaps. A recorded reduced marginal costs of data by 60% with run-rate annual savings over $25M – $35M (25%). Moreover, she has defined and engaged priority partners for 50% of relevant 2022 GA Google solutions.
Henna’s role in revolutionizing the insurance industry through data, analytics, artificial intelligence, and detection & prevention is a movement that the industry is thoughtfully engaging in. Her mission to bridge the gap between these two realms has paved the way for transformative changes.
As we continue to embrace digitalization and leverage the power of data, Henna’s strategic vision and relentless pursuit of excellence will undoubtedly shape the future of the insurance landscape.
To know more about how tech-savvy Henna Karna is revolutionizing the insurance industry, check out her LinkedIn.
