6July-August 2017CIOReview's circulation is audited and certified by BPA International (Audit Pending). Copyright © 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.JULY-AUGUST 2017Mailing AddressValleyMedia, Inc.44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510 230 0396, F:510-894-8405July-August 2017, Vol 03 Issue 04 Published by ValleyMedia, Inc. To subscribe to Insurance CIO OutlookVisit www.InsuranceCIOOutlook.com Managing EditorPamela MorganEditorial StaffSalesAaron Pierce Akanksha MinzJoshua Parker Alex D'SouzaAva Garcia Sarah FernandesVisualizerJohn GouthamUnderwriting Solution SpecialEric Thomaseric@insuranceciooutlook.comEditorialPamela MorganManaging Editoreditor@Insuranceciooutlook.comAs the engine of insurance industry, underwriting is undergoing transformative changes today, mainly around the automation of processes. Many insurers have acknowledged the promise that automated underwriting holds, in the form of better process flow, higher customer service levels, enhanced agency communications, improved tracking, more consistent underwriting decisions, and faster throughput. All of these, along with efficient risk evaluation and accurate pricing lead to significantly higher profits. Meanwhile, though automated systems make all the necessary information available, and deliver benefits from real-time access to the claims history of an account, they do not outline how to assess or bring a perfect fit for these things together. It is this shortfall, which is giving prominence to precision underwriting that will deliver the full potential of automated systems. Unlike automation, where the focus is on increasing the speed of tasks and processes, a precision approach is targeted towards improving the quality of underwriting processes. All these approaches indicate that the next generation of underwriting is already here. Innovation around underwriting workstation is another ground breaking technology delivering on the promises of data-driven, workflow-optimized risk evaluation processes. These workstations make underwriters tremendously efficient and help increase collaboration with producers by streamlining the underwriting process. Though underwriters are pulling enough traction using these advanced systems, they still need to keep an eye out for changes--as it is the key to learning and staying ahead of the curve in an ever evolving industry. Emerging technologies like wearable devices would prepare life insurance underwriters to review more information than they have had historically. Likewise, predictive analytics approach is helping underwriters to establish strong underwriting values that remove risks and prompt improved service to clients. These trends will drive more positive numbers for insurers. Insurance CIO Outlook's underwriting special is a dive into plethora of solutions and service providers, changing trends, and a glimpse into how the future of insurance underwriting would look like. We hope the valuable insights from industry thought-leaders and the innovative solutions from leading as well as emerging companies featured in this edition will help you in making informed decisions.Technological Aura for Digital UnderwritersPamela Morgan*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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