Monica Kaldas has been named Executive of the Year 2023. As Executive Vice President (EVP) and Global Chief Information Officer (CIO) at Liberty Mutual, she is engaged in transforming a century-old company for the new era of artificial intelligence. Kaldas, with an innovative and bold approach, is striving to accomplish two challenging tasks simultaneously: modernizing legacy systems and restructuring the organization around artificial intelligence.
Integrating AI into Key Processes
The key to Kaldas's work is integrating artificial intelligence into key processes such as underwriting and insurance claims. To this end, she currently has over 100 AI capabilities in production. This approach has helped Liberty to be recognized as the first insurance company to launch an automated pricing application using ChatGPT in May 2023. This application is part of a larger strategy known as “Conversational Commerce,” where the insurance purchasing process transforms from filling out forms to simply having a conversation.
Kaldas's Path to Success
Kaldas's interest in solving complex problems using technology began at a young age. She moved from Portugal to the United States in third grade and did not know a word of English. Through hard work and determination, she became the first person in her family to attend college. These experiences and challenges have shaped her strong and innovative character.
Kaldas says, "I love solving big, complex problems using technology." This passion and enthusiasm for her work enable Liberty to remain a leader in the ever-changing technology landscape. Despite numerous challenges, Kaldas moves forward with courage and determination, aiming to transform the insurance industry.
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