| | December 20186CIOReviewFor many insurers, the cloud-computing debate is over. With 7 in 10 carriers using cloud in their business today, it is already an integral part of their technology environment and business platform strategies. The traditional drivers of cloud computing--cost savings and pay-as-you-consume contracts--will likely continue to push usage. Yet the next round of adoption will likely be driven by other key benefits that cloud offers--namely speed, flexibility, and scalability.Insurance CIOs, who are under pressure to deliver digital capabilities, are looking at developing applications on the cloud as a faster alternative to on-premises deployments. Beyond that, evolving technologies such as advanced analytics, telematics monitoring via the Internet of Things (IoT), and cognitive applications generally demand newer technology capabilities that are both quickly scalable and flexible, given the amount of data being generated and the processing power needed to leverage it.More and more core business capabilities are likely to move into the cloud as carriers continue to pursue legacy system modernization in the next 12-18 months. A recent report also suggests that suggest that insurers are already leveraging cloud applications for core operational activities, although there is still plenty of room for growth here. Given these trends, technology vendors are likely to increasingly direct their investments to develop innovative cloud-based alternatives, which should spur more insurers to look to the cloud first when replacing on-site legacy systems and adding new functionality, such as artificial intelligence.The drivers should result in more carriers shifting core system capabilities to the cloud in a bigger way, even as they start opting for a cloud-first strategy for new applications and workloads. We hope the valuable insights from industry thought-leaders and the innovative solutions from leading as well as emerging companies featured in this edition will help you in making informed decisions in your Insurance Technology endeavors in 2018.Jeevan George Managing Editoreditor@cioreview.comEditorialInsuring the Technological SpotlightCopyright © 2018 ValleyMedia, 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.CIOReviewDECEMBER - 14 - 2018December - 14 - 2018, Vol 07 SE 112 Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com Contact Us:Phone:510.330.5176Fax:510-894-8405Email:sales@cioreview.comeditor@cioreview.commarketing@cioreview.comCIOReviewEditorial StaffSalesJustin SmithSriKrishnaKenneth ThomasLester D'SouzaKyle SummersSarah FernandezNick Masonnick@cioreview.comManaging EditorJeevan GeorgeINSURANCE TECH SPECIAL*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffVisualizersSarath MAsher Blake
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