MARCH 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.comContact Us:Phone:510-683-5022Fax:510-894-8405*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.comThe insurance industry has evolved dramatically in the recent years to incorporate more dynamic and flexible solutions. Technological advancements are revolutionizing the way policy administration systems function, redefining user experience while reducing the efforts to on-board and maintain innovative insurance product offerings in platforms. Due to the pressing need for efficient operations in the insurance industry, there has been a radical shift from legacy policy administration solutions to product-based solutions that reduce implementation costs and streamline business processes. Modern policy administration solutions are playing an increasingly significant role in every insurer's business model. By integrating technologies with the software and adding features that facilitate faster time to market and multi channel distribution, policy administration solutions are empowering insurance providers. Along with greater flexibility, today's policy administration software delivers individualized customer experiences at reduced costs. They bring in sophisticated portals and dashboards to support existing and new distribution channels while reducing the complexity that occurs when incorporating multiple systems. As a result, advanced insurance providers are utilizing policy administration as a platform that enriches customer experience by providing them with value adds that go beyond the benefits of the policy. Backed by technology innovations ranging from the web, analytics and mobility to social networks, current policy administration solutions also extend their capabilities into areas such as requirements management and automated underwriting along with to data mining and reporting, commission management and claims. In the current market scenario, policy administration solutions are becoming rules-based to enable insurance providers to innovate and respond to the shifting market factors thereby boosting their business performance. In the light of the advancements occurring in the policy administration space, this edition of Insurance CIO Outlook highlights some of the most prominent platforms and solutions in the insurance tech landscape. With insights from veteran industry leaders and the leading-edge solutions from renowned companies, we hope our readers will be able to make a well-informed decision for their organizations. Let us know what you think!The Changing Face of Policy AdministrationPamela MorganVisualizerJohn WalterMARCH - 20- 2020, Vol 06 Issue 03 (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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