| | May 20176CIOReviewCopyright © 2017 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.CIOReviewMAY - 11 - 2017Mailing AddressCIOReview44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.565.7624, F:510-894-8405 MAY - 11 - 2017, Vol 06 SE 58 - Published by ValleyMedia, Inc. To subscribe to CIOReviewVisit www.cioreview.com INSURANCE TECHNOLOGY SPECIALCIOReviewEditorial StaffSalesAaron Pierce Joshua Parker Melissa Reaktenwalt Ava Garcia Kyle SummersSarah FernandesAlena D'souzaalena@cioreview.comT: 510.556.2284VisualizersDave BrownManaging EditorJeevan GeorgeEditorialK. Manoj KumarDrones zooming over houses to assess storm damage, doctors remotely monitoring patient health and engaging with them via videos, and cars that drive themselves around were only to be seen on the silver screen--until now. Technology is making science fiction a reality, ultimately impacting how people insure against the unpredictable and expensive risks. These new innovations however, bring an interesting set of challenges to the fore.A driverless car is a marvel of technology. But if one of these cars was to be involved in an accident, whose fault is it? While experts and panels deliberate over this conundrum, if the car's manufacturer is determined to be liable, then auto insurers will have to underwrite in a completely different way to remove the driver from the equation. Nevertheless, car manufacturers are certainly not going to accept complete responsibility for every crash and are going to need protection; they will try to blame the owner or other human drivers involved in the incident. Whatever be the outcome, insurers have their hands full.Similar is the scenario with telemedicine and employer-sponsored health and fitness programs that involve 24/7 health monitoring. Given the parity between telemedicine and on-site care across numerous states, health insurance companies will have to change their approach and treat them the same way.Another, more exciting, development in the insurance industry is the usage of drones. What does this mean? With drones, processing property damage claims need no longer be a drawn-out affair that takes weeks, but one that can be completed in minutes. Not only is this appealing to the insured, but also gives insurers a way to fight fraud. By using drones to capture images of insured property before and after natural disasters, insurance companies can weed out cases where customers use an event to claim pre-existing damages. It can also help eliminate internal employee errors and double check the work of adjusters whose claims significantly deviate from the usual.As regulations relax, technologies evolve, and adoption increases, the market is witnessing a need for technology providers that will help insurance companies keep pace with the industry trends and customer demands. At this juncture, CIOReview presents its Insurance Technology Special Edition, featuring insights from industry thought leaders and solutions from innovative technology firms. We hope this edition is helpful in preparing you for the challenges of tomorrow.Let us know your thoughts.Jeevan George Managing Editoreditor@cioreview.comModernizing Insurance
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