6SEPTEMBER 2017CIOReview's circulation is audited and certified by BPA International (Audit Pending). Copyright © 2017 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.SEPTEMBER - 1 - 2017Mailing AddressValley Media, Inc.44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510 230 0396, F:510-894-8405September - 1 - 2017, Vol 03 Issue 05 Published by Valley Media, Inc. To subscribe to Insurance CIO OutlookVisit www.InsuranceCIOOutlook.com Managing EditorPamela MorganEditorial StaffSalesAaron Pierce Ava GarciaRMS ShivAlex D'SouzaJoshua ParkerSarah FernandesVisualizerSudhin ThomasCLAIMS PROCESSING & MANAGEMENT SPECIALEric Thomaseric@insuranceciooutlook.comEditorialPamela MorganManaging Editoreditor@insuranceciooutlook.comInsurance claims environment is deeply reliant on process speed and accuracy to meet customer demands today. As a result, insurance companies are moving away from the age-old methodologies of manual data entry and legacy applications to embrace speed. Technology is the cornerstone of this claims transformation. Inorder to manage the complex layers of administrative, managerial, and customer service functions, which are heavily dependent on information intensive processes, companies are scouting for sophisticated management systems that can facilitate integrated, multichannel, and flexible processes.These systems offer automated, rules-based processes to settle simple claims. Meanwhile, advanced claims platforms that can capture higher volumes of data is taking the productivity of insurers to new heights. By leveraging the data, these systems can provide valuable insights into customer preferences, which will help insurers to better work with their customers. The data can also provide insights into the ultimate cost of a claim--helping both customers and insurers.Further, the advancements in big data and analytics is helping the insurance companies tackle one of their biggest challenge: fraud prevention. It helps them move away from a reactive posture to proactive one in fraud detection and prevention.As technology developments continue to refine processes and change the claims management industry, it is critical for firms to upskill and keep pace with the latest advancements. At this juncture, Insurance CIO Outlook presents its special edition on Claims Processing and Management, featuring insights from industry thought leaders.We hope this edition will be a valuable asset to you in navigating today's changing claims landscape. Write to us your thoughts.Technology: The Change AgentPamela Morgan*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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