NOVEMBER 20206Copyright © 2020 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.Managing EditorPamela MorganSalesDave Barcodave@insuranceciooutlook.com*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEditorial StaffAaron Pierce Ava GarciaAlex D'Souza Dan StanleyJoshua ParkerKokila Rani SEditorialPamela MorganManaging Editoreditor@insuranceciooutlook.comWhat was once just a part of imaginative science-fiction stories, Artificial Intelligence (AI) is taking deep roots in our everyday lives. AI has forayed into most of the industries today. Consequently, the insurance sector, infamous for its highly regulated environment and slow technology adoption, is experiencing the AI-driven disruption and witnessing new opportunities emerging in response. According to McKinsey, the insurance industry can tap a potential annual value of up to $1.1 trillion by successfully implementing AI. Insurance companies can reap a myriad of benefits such as improved productivity, enhanced customer experience, efficient claims management, and reduced frauds, to name a few. However, there are several challenges while implementing AI technology, and a prominent one among them is the concern over data security. Deep learning takes massive data, including transactions and other personal details, which poses a critical risk of a security breach or data leak. Similarly, infrastructure capability is another issue companies are faced with. Deployment of a data center or cloud is essential for development, and it's imperative to make the right choice considering the operational and maintenance costs that have a significant effect on business. Therefore, the key to unlocking AI's potential is by identifying the right set of use cases and investing in the right solutions.In this edition of Insurance Tech Outlook, we bring you the story of some of the most successful AI solution providers that deliver the best outcomes for their clients. This edition also offers a combination of thought leadership from subject matter experts with real-life stories on fostering robust partnerships and exclusive insights from CIOs and CXOs. We hope this edition will provide you with the right assistance in choosing the AI solutions that best fit your requirements. Let us know your thoughts!AI-driven Technology Disruption in the Insurance IndustryPamela MorganVisualizerJohn WalterDECEMBER - 30 - 2020, Vol 06 Issue 12 (ISSN 2644-2795) Published by ValleyMedia, Inc. To subscribe to Insurance CIO OutlookVisit www.InsuranceCIOOutlook.com Email:sales@insuranceciooutlook.comeditor@insuranceciooutlook.commarketing@insuranceciooutlook.com
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