6March - April 2018CIOReview's circulation is audited and certified by BPA International (Audit Pending). Copyright © 2018 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 - APRIL - 2018Contact Us:Phone:510-683-5022Fax:510-894-8405Email:sales@insuranceciooutlook.comeditor@insuranceciooutlook.commarketing@insuranceciooutlook.comMarch - April - 2018, Vol 04 Issue 01 Published by Valley Media, Inc. To subscribe to Insurance CIO OutlookVisit www.InsuranceCIOOutlook.com Managing EditorPamela MorganEditorial StaffSalesAaron Pierce Ava Garcia Sandeepa MajumdarAlex D'SouzaJoshua ParkerSarah FernandesVisualizerChetan.NPOLICY ADMINISTRATION SPECIALJohn Varghesejohn@insuranceciooutlook.comEditorialPamela MorganManaging Editoreditor@insuranceciooutlook.comAs the insurance industry embarks on a radical transformation journey spurred by a series of digital innovations, legacy policy administration solutions are being rapidly replaced by solutions that leverage modern technologies such as cloud, mobility, analytics, and social networks. These solutions empower insurers to efficiently manage policies throughout their entire lifecycle while tracking data at every stage and gaining insights on coverage specific risk information for all transactions. Modern policy administration solutions enhance insurers' operational efficiency with a lower total cost of operations by consolidating their existing solutions. They enable insurance providers to digitally run their business through an extensive set of features to handle the insurance policy sales and servicing lifecycle. By integrating policy documents, real-time financial transactions, and reversals, these intuitive solutions cost-effectively address the growing needs of insurers including designing innovative products, faster time to market, and multi-channel distribution.With the flexibility to build once and use many times, today's mobile-first policy administration solutions are embedded with intelligence to offer real-time decision making. These solutions come with adaptive and predictive analytics capabilities that enable extensive in-depth analysis of current and historical consumer behaviors to help insurers develop the best possible products and pitch those to the right people at the right time. Other important aspects that the solutions deliver include creating personalized customer experiences and lowering the costs to meet the growing customer expectations.Today, policy administration solutions extend their capabilities into areas of requirements management and automated underwriting and more sophisticated capabilities such as data mining and reporting, commission management and claims. To visualize the policy administration ecosystem, we have curated content for this special edition by bringing together innovative solution providers, changing trends, needs of the hour, and a glimpse into the future. 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 for your policy administration endeavors.Let us know your thoughts.When Strategy Meets ActionPamela Morgan*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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