6December 2016CIOReview's circulation is audited and certified by BPA International (Audit Pending). Copyright © 2016 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.DECEMBER 15 - 2016Mailing AddressValleyMedia, Inc.44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510 230 0396, F:510-894-8405DECEMBER 15 - 2016, Vol 02 Issue 09 Published by ValleyMedia, Inc. To subscribe to Insurance CIO OutlookVisit www.InsuranceCIOOutlook.com Managing EditorPamela MorganEditorial StaffSalesAaron Pierce Ambili Sasidharan Joshua Parker Alex D'SouzaAva Garcia Sarah FernandesVisualizerStephen ThomasCore Systems SpecialSebastian Jacobsebastian@insuranceciooutlook.comEditorialPamela MorganManaging Editoreditor@Insuranceciooutlook.comInformation technology democratization has given birth to demanding digital consumer who expects engaging and seamless digital experience in every facet of business transaction. In this scenario, the fear of irrelevance is pushing insurers and carriers into a scramble to overhaul their core insurance systems for a nimble and responsive technology framework that supports automation-based workflow across the core business processes ­ policy, rating, underwriting, claims, and billing. With customer experience as market differentiator, transformation of internal practices is necessary for the success of insurers in the long run.While modern policy-based administration is garnering more attention in delivering customer-centric insurance services with reduced complexity, rise in adoption of intuitive policy and claims software platforms is an area that is gaining wide acceptance. Heightened focus is being laid on efficient agent and customer portals for new business and underwriting needs as means to improve profitability and market penetration. One thing is sure. Technology is the transformation agent for insurers in their pursuit of customer retention and reduction of cost per customer acquisition. While cloud has become a common theme in almost every technology infrastructure transformation, increasing adoption of analytics is unlocking a treasure trove of insights for informed decision-making. Also, the data influx from a variety of sources, including social media is harnessed to meet compliance needs and business improvements by building risk profile, claims profile, reinsurer exposure, triangulations, and much more. In this scenario, inventive fintech companies are bringing fresh perspective toward managing the modern day challenges for insurers and carriers by making technology transformation seamless for the non-tech workforce. These companies, while enabling the stakeholders to stay abreast with the trends in the market place, are also helping them foster collaboration--both inside and outside of the organization--by offering business knowledge, regulatory support, and services orientation.At this crucial juncture, Insurance CIO Outlook brings to you companies that are at the forefront of delivering key competencies to firms in the insurance industry.Let us know your thoughts.The Core TransformationPamela Morgan
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