6SEPTEMBER 2021Copyright © 2021 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 MorganSalesAlena D'Souzaalena@insuranceciooutlook.com*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEditorial StaffAaron Pierce Ava GarciaAlex D'Souza Abhinov PunnakkalJoshua ParkerSarah FernandesEditorialPamela MorganManaging Editoreditor@insuranceciooutlook.comThe idea of risk-sharing can be dated back to over 5,000 years ago when Chinese merchants combined their cargo on multiple ships. Albeit the risk of the vessel sinking, not all of their cargo would be wiped out. While customers today aren't transporting merchandise over sea routes, the concept of insurance remains the same. The only difference is the size and scale, and modernization of this industry and its adaptation with time.Insurance claims processing and management is an integral part of the insurance industry. Over the years, the sector has adopted various technologies to keep up with the changing times; the latest is the Internet of Things (IoT). For a long time, customers have been disappointed with the traditional ways of claims processing. However, the growth of IoT has forced the industry to change its methods of processing claims and deliver on the needs of customers who want results right away. Insurance claims that take weeks or months to process can be a severe source of frustration. IoT ensures that insurance companies move more quickly and make effective data-driven decisions. Companies no longer have to wade through the paperwork and can drive through the claims process more efficiently. Instead of filling a bunch of forms, customers can now submit claims via mobile apps by taking a few pictures. In addition, connected devices like biometric and environmental sensors make it easy to calculate risk and adjust policies as situations change. Along with this, Artificial Intelligence within the insurance industry has overhauled the claims management process by making it better, faster, and error-free. As more and more players emerge in the insurance claims and processing management segment, it is imperative that organizations weigh their choices before selecting the right partner. This edition of Insurance CIO Outlook brings you the story of some of the most successful claims processing and management solution providers that deliver the best outcomes for their clients. This edition also combines thought leadership articles from subject-matter experts and exclusive insights from CIOs and CXOs. We hope this edition will provide you with the right assistance in choosing the best trading solution providers based on your requirements.Let us know your thoughts!Reimagining Insurance Claims Processing and ManagementPamela MorganVisualizerJason JaseVictor Cruz SEPTEMBER - 2021, Vol 07 Issue 05 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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