Thanuja Krishnaratna, Executive Director and Actuary at Actsure Lab, is a prime example of how technical expertise and leadership can blend to create profound impact within a specialized industry. With an impressive background in actuarial science, Thanuja stands as both a technical expert and a dynamic leader, expertly navigating her dual responsibilities. Her journey from actuarial specialist to an influential leadership figure is one that sets her apart in the traditionally technical and often siloed world of actuarial roles.
Thanuja’s unique position at the helm of Actsure Lab, a consulting firm she co-founded, has propelled the company to the forefront of actuarial consultancy. Specializing in leveraging actuarial expertise for strategic insights and solutions, Actsure Lab has become a beacon of innovation and professionalism. The team at Actsure Lab comprises a diverse group of qualified actuaries, professionals with actuarial experience, and individuals just beginning their actuarial careers, all driven by a shared passion for advancing the profession. At the core of this team is Thanuja’s commitment to nurturing talent. Through a comprehensive recruitment process, Actsure Lab offers structured training programs that equip newcomers with the necessary skills and financial support to pass their actuarial exams, while also providing them with invaluable hands-on experience.
Thanuja’s leadership philosophy centers on fostering a culture of continuous learning and growth. She believes that while technical expertise is crucial for success in the actuarial field, soft skills, such as communication, empathy, and mentorship, are equally important for leadership. She recognizes that actuaries are often more comfortable with numbers than with people, which makes a nuanced approach to leadership essential. As Thanuja explains, “Leading a team of mathematically and statistically astute professionals demands a nuanced approach. While technical expertise forms the foundation, leadership qualities such as mentorship, strategic vision, and empathy are essential in guiding a team through their careers.”
This blend of technical rigor and compassionate leadership has allowed Thanuja to carve out a distinctive path in a traditional technical role. Her ability to balance the demands of a technical expert with those of an inspiring leader underscores the transformative impact she has had on her team and the clients they serve. As she puts it, “Balancing an actuarial and leadership role within Actsure Lab doesn’t present a stark dichotomy. Since our firm is deeply rooted in technical expertise, led predominantly by actuaries, my actuarial background naturally aligns with the operational focus of the company.” This alignment, she believes, allows her to guide her team not just through the intricacies of actuarial science but also in tackling complex, evolving challenges for clients.
One of the defining projects that showcases Thanuja’s leadership and expertise is Actsure Lab current work on implementing IFRS 17, a groundbreaking accounting standard for insurance contracts. The implementation of IFRS 17 requires a robust blend of actuarial expertise and accounting knowledge, as it involves working with both local and international clients. Under Thanuja’s leadership, Actsure Lab has been instrumental in ensuring a seamless transition for clients to comply with this complex regulatory change, all while maintaining an unwavering focus on technical accuracy and client-centric solutions.
Thanuja’s leadership extends beyond the confines of the office. She is actively engaged with the local and global actuarial community, positioning herself as a thought leader in the field. Her extensive involvement with the International Actuarial Association (IAA), where she has been a key leader and representative since 2010, gives her a unique perspective on global developments and best practices within the profession. Thanuja’s contributions have also significantly impacted the Actuarial Association of Sri Lanka (AASL), where she was one of the founder members who was a key contributor of inauguration of AASL. She served as president and has continued to play a pivotal role in its growth taking the Sri Lankan Actuarial profession to the world. Her work as Vice Chair of the Asia Task Force of the IAA and her involvement with the IAA’s Advice and Assistance Committee further underscores her commitment to advancing the actuarial profession globally, particularly in emerging markets.
Recognizing the growing importance of technological innovation in actuarial work, Thanuja has been at the forefront of integrating emerging technologies such as machine learning, artificial intelligence (AI), and advanced programming into the firm’s operations. This forward-thinking approach has allowed Actsure Lab to stay ahead of the curve, enhancing its ability to handle complex actuarial challenges more efficiently and with greater precision. By embracing these technologies, Thanuja is continuously working towardsthe way her team approaches data analysis, providing clients with deeper insights and more tailored solutions. The need for such technical advancements is increasing, as industries grapple with more complex regulations and data-driven decision-making. As regulatory frameworks, such as IFRS 17, evolve, the demand for actuaries who can navigate these changes with both technical expertise and an understanding of emerging technologies is higher than ever. Thanuja’s ability to manage this delicate balance, while maintaining the firm’s reputation for excellence, positions Actsure Lab as a thriving firm in the actuarial consulting space.
Thanuja’s leadership is not just about managing current challenges but also about ensuring the future growth of the profession. By promoting a culture of continuous professional development, she ensures that her team remains at the cutting edge of industry standards. This commitment to excellence has earned Actsure Lab a stellar reputation as a trusted advisor to clients, both locally and internationally.
As a proactive leader, Thanuja stays ahead of industry trends and regulatory changes through active participation in industry bodies. Her involvement in the IAA, along with her advocacy for expanding actuarial roles in public governance, demonstrates her vision for a more resilient and strategically informed future in insurance and risk management.
In summary, Thanuja Krishnaratna exemplifies the kind of visionary leadership that is driving the actuarial profession forward. Through her innovative approach to integrating technology, her commitment to nurturing talent, and her global perspective on industry developments, Thanuja is shaping the future of actuarial consultancy and reinforcing Actsure Lab’s position as a leader in the field. Her multifaceted leadership, both within her firm and in the broader actuarial community, ensures that the future of actuarial science is not only secure but also primed for growth and transformation.