| | DECEMBER 20226CIOReviewTechnology has radically transformed the insurance industry. It is enabling large and small companies to automate manual business processes, gain a deeper understanding of their customers through data analytics, and even leverage augmented reality to optimize employee training. There is no shortage of high-tech, industry-specific solutions today, and their list of benefits is just as lengthy. The global insurtech market is expected to reach $39.4 billion by 2027 at a CAGR of 48.9 percent.Augmented reality is notable among the technologies driving the insurtech market. Insurance tech providers leverage it to provide an interactive user experience and ensure customer entertainment and engagement. Augmented reality enables underwriters to simulate real-life disasters, such as flooding or landslides, and estimate potential damage. Augmented reality glasses can also improve onsite safety for inspectors and specialists by allowing them to record information hands-free, overlay notes on their field of vision, and easily communicate with other team members. Insurers can use AR to create interactive advertising campaigns and entertaining in-app services to attract younger customers and fend off insurtech.To spotlight such key developments in the industry, Insurance Tech Insights illustrate how companies are using the latest technological developments to improve the claims management process. This edition also features thought leadership articles from subject matter experts on the ongoing trends, best practices, and recent innovations in the insurance tech space. Some of the exclusive insights are authored by Steve Harris, Chief Ethics and Compliance Officer of Lincoln Financial Group, Harris Clarke, Insurance Vice President of Claims, Customer Service, and Sales at PEMCO, and Wagner Denuzzo, Head of Capabilities for Future of Work at Prudential Financial, who shed light on various trends in insurance tech solutions industry including hybrid cloud environments, AI-enabled intelligent systems, and digital transformation. In this edition of Insurance Tech Insights, we also bring the story of some of the top insurance tech solution providers delivering the best outcomes for their clients. In the list, Convr stands out for transforming underwriting experiences for commercial P&C insurers through modern, AI-driven digital underwriting operations. The list also comprises OneProtection, an organization that provides financial advisors and insurance professionals a presentation software to help them visually demonstrate the need for income protection to their clients in a simple yet visually powerful way.Through the following pages, we aim to highlight the innovative trends and latest developments in the organizational development industry. We would like to know your thoughts. EditorialEnhancing Insurance Tech Industry with Augmented Reality Copyright © 2022 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.CIOReviewEmail:sales@cioreview.comeditor@cioreview.commarketing@cioreview.com December - 03 - 2022, Vol 11, Issue - 92 (ISSN 2644-237X) Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com CIOReviewEditorial StaffAaron PierceCarolynn WaltersShirley FaithRussell ThomasGina ClumskyYenny TurnerTiffany HayworthAbner LawrenceVisualizersChris LynnBrian Harding*Some of the Insights are based on our interviews with CIOs and CXOsJustin Smith Managing Editoreditor@cioreview.comManaging EditorJustin Smith
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