6March 2016CIOReview's circulation is audited and certified by BPA International (Audit Pending). Copyright © 2016 Valley Media 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.MARCH - 2016Mailing AddressValley Media Inc.44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510 230 0396, F:510-894-8405 March - 2016, Vol 02- Issue 03 Published by Valley Media Inc. To subscribe to Insurance CIO OutlookVisit www.InsuranceCIOOutlook.com Managing EditorPamela MorganEditorial StaffSalesAaron Pierce Arun KantDerek James Jessica ThomasSarah FernandesJem ElizabethVisualizerStephen ThomasRISK MANAGEMENT SOLUTIONS SPECIALRichard Cogan richard.s@insuranceciooutlook.com510 556 2641EditorialPamela MorganManaging Editoreditor@Insuranceciooutlook.comApart from precisely understanding the economic conditions in a fast-paced and rapidly evolving business environment, insurers today are using innovative solutions and tools to enhance corporate and personal risk management. The massive advances in computing and risk technologies have significantly helped insurers in creating, sustaining, and deriving value out of Enterprise Risk Management (ERM) process. Often, companies lack the tools to integrate and capture the risk data, which is scattered across the business units, to make better decisions. An intelligent ERM program takes a framework that enables an insurer to identify and measure all major risk exposures across his company, methodically build mitigation strategies, and implement analytic capabilities to produce accurate reports that managers can use for daily decision-making. The advanced analytics components integrated in the ERM framework help insurers build better models with greater predictive power and harness information that has been trapped in business units. This can also assist in implementing self-learning algorithms for credit underwriting, monitoring, and credit-card fraud detection to progressively learn from data and gain better insights. Further, modern and innovative technologies are allowing risk managers to build many purpose-built mobile apps that can significantly improve the productivity of risk assessment, audit, and incident management operations. Mobile devices with integrated cameras and GPS, paired with apps are ideal tools to capture and communicate pertinent data and images in real-time.In a nutshell, a strong risk culture--encompassing detection, assessment, and mitigation--is central to success for any insurance company. Prioritizing on enhanced risk mitigation strategies, we are presenting to you top 10 risk management solution providers. We hope this information will help you to continually capture, evaluate, analyze, and respond to risks from changing internal operations, external markets, or regulations. A Digitized Risk Management Framework Pamela Morgan
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