Copyright © 2015 CIOReview, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewMARCH - 09 - 2015CIOReview's circulation is audited and certified by BPA International (Audit Pending). Mailing AddressCIOReview44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.402.1463, F:510-894-8405 March 09 - 2015, vol 4 SE 08 Published by CIOReview To subscribe to CIOReviewVisit Editor-in-Chief Pradeep ShankarEditorial StaffSalesT:510.565.7564 VisualizersStephen ThomasK.Manoj KumarInsurance Technology SpecialCIOReviewLeena Josephleena@cioreview.comCaroline D'Souzacaroline@cioreview.comSebastian Jacobsebastian@cioreview.comJem ElizabethJoe PhilipJoshua ParkerSonia SacharAaron PierceAlex D'SouzaAlwyn Joe Matthew JacobThe insurance industry faces daunting technology challenges, including limited resources, aggressive timeframes and often-unrealistic demands from business stakeholders. Leaders must reduce costs, increase service quality and position for growth in rapidly changing markets. The changing regulatory environment and legacy applications make these efforts even more difficult. Today, we see insurance companies taking the lead in some of the most innovative and exciting capabilities, with ambitious initiatives around big data and analytics, telematics and the Internet of Things, mobility and cloud. Digital has changed the way insurance is delivered. Customers can now shop, compare, renew and communicate online. Insurers have to make fundamental changes in the way they do business. Changing customer expectations, a highly competitive market environment, and the wider adoption of cloud computing, mobile technologies, analytics and social media are among the drivers toward digitalization in the insurance industry. The digital revolution is an opportunity to reach new markets, offer innovative services and differentiate your brand in the market.The increased availability of information from these digital channels has also expanded the use of data analytics for insurers. Many of these insurers are sitting on large amounts of structured and unstructured data. To fully utilize this data, they must formulate new strategies and expand their collection to new avenues, including information in the public domain, and user information from other industries such as banking. As insurance companies and vendors get more creative in the access and use of data using BI tools, they will realize better decision making, more competitive products and a data-driven path to profitability.It goes without saying that insurance companies with the ability to invest and integrate information technology will dominate the highly competitive global market. There are plethora of technology solutions in the marketplace to address the new paradigm of the insurance industry. Our editorial team evaluated several of these companies to present you the 20 most promising insurance technology solution providers. We believe this information will help you, while you get prepared for a more demanding consumer and new competition from inside and outside the industry. We would love to hear your experience of leveraging innovative technology solutions to steer your business.Pradeep Shankar Editor-in-Chief editor@cioreview.comThe Future InsuranceEditorialYeshwanth H V
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