| | May 20166CIOReviewCopyright © 2016 CIOReview. 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.CIOReviewMAY 13 - 2016Mailing AddressCIOReview44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.402.1463, F:510-894-8405 MAY 13 - 2016, Vol 05 SE-25 Published by CIOReview To subscribe to CIOReviewVisit www.cioreview.com INSURANCE TECHNOLOGY SPECIALCIOReviewEditorial StaffSalesT:510.565.7627Alex D'SouzaDerek JamesJoe PhilipArun Kant Jade Ray Susan AndersonSebastian Jacobsebastian@cioreview.comVisualizersStephen ThomasManaging EditorJeevan GeorgeThe Insurance industry has been a major consumer of computing, since the creation of data processing machines. Today, Big Data, Mobile, and Cloud are redefining the way businesses work in the industry. In the days to come, wearable technology, robots, virtual reality, augmented reality and autonomous driving, will be the drivers for further evolution of the insurance industry. These new technologies are transforming the end-to-end business models for insurance firms. For instance, face-to-face interactions are becoming scarce in the field and online and cross-channel experiences are slowly yet surely gaining prominence. It's pretty clear that going forward, the stakeholders within the industry will be freed from the manual intensive processes and enjoy a more streamlined workflow. The need of the hour is to get prepared for this change, with the assistance of technology. Many CIOs within the insurance industry are already experimenting with technologies like wearable gadgets. Wearables come in with the ability to capture data near the wearer--finding their application in claims assessments. A court in Canada recently ruled that data that came in from FitBit--that revealed a change in activity after a personal trainer was injured in car crash--can be used in a personal injury lawsuit. Apart from this, wearables can also be used for marketing, product development, worker's compensation, and underwriting. Insurers are also using Telemetry based packages and predictive modeling--using which they can have the correct assessment of a driver's probability of being involved in an accident, by comparing behavioral data with other drivers in the database.So far, according to a study by Mckinsey & Co, insurance agents who have already started embracing the digital practices reported a 65 percent cost reduction on key insurance processes. To accelerate the proliferation of technology into this domain, CIOReview's editorial board with a panel of industry experts has come up with a list of the prominent Insurance Technology Solution Providers for the U.S. Market--a list of 20 names who hold the promise of disrupting the space. Flip through the pages and let us know how these solution providers are of help to you.Jeevan George Managing Editoreditor@cioreview.comEditorialEmbrace the ChangeK.Manoj Kumar
< Page 5 | Page 7 >