Insuranceciooutlook
big data

Legacy Modernization in the Age of InsurTech
Insuranceciooutlook >> cioviewpoint

Brahm Sharma, CIO, Aon

There is a lot of excitement around InsurTech. According to CB Insights, the number of funding deals in InsurTech increased from 91 in 2014 to 173 in 2016. Investment in Q3 of 2017 was 35 percent higher than in Q3 of 2016. This high level of...

InsureTech through the Eyes of a Venture Capitalist
Insuranceciooutlook >> cxoinsights

Dave Miles, Managing Partner, ManchesterStory Group

Why InsureTech? Because all of the cool industries had already been taken. Just kidding. Insurance is fascinating–behaviorally, financially, policy-wise. As human beings, it’s natural to believe bad things will never happen to us....

The Era of Insurtech Startups
Insuranceciooutlook >> cxoinsights

Dan Reed, Managing Director, American Family Ventures

Venture capital funding for “insurtech” startups (sometimes written as “insuretech”) is experiencing a boom. Investors see insurance– one of the world’s largest industries–adapting slowly to...

Compete or Partner: Banks See Rise of FinTech Solutions
Insuranceciooutlook >> cxoinsights

Christopher Kennedy, VP, Quantitative Finance Manager, BankUnited [NYSE:BKU]

FinTech—or simply financial technology—is moving at the speed of innovation. FinTech originally represented the shift of traditional brick-and-mortar banking to online and mobile platforms. Now, FinTech embodies a deluge of Silicon...

Harnessing Technology for Improving the Assessment on Assets
Insuranceciooutlook >> cioviewpoint

Mark Lennon, CIO, North America, JLT Specialty USA

1. How can the evolving Insurance Industry help overcome the challenges? A large issue faced by all data driven industries is that of poor quality and slow data. This often leads to poor business decisions being made due to the low-value...

Building Resiliency against Increasing Threats to IT, OT and IoT
Insuranceciooutlook >> cxoinsights

Tim Callahan, SVP, Global Chief Security Officer, Aflac

Criminals: Motivated Primarily by Profit It is a different day and age today than it was 20 years ago. The advent of big data has given rise to the big data criminal whose only goal is to disrupt for personal or ideological gain. The...

Big Data Enhancing Insurance Sector
Insuranceciooutlook >> cioviewpoint

Jason Lichtenthal, SVP, CIO, PURE Group of Insurance Companies

Big data is a very broad term and means different things to different people and industries. Broadly speaking, people have been using the four Vs: Volume, Velocity, Variety and Veracity. In the world of insurance, the V that matters is...

Big Data Has Big Changes in Store for Insurance Industry
Insuranceciooutlook >> cioviewpoint

Brad Bodell, SVP & CIO, CNO Financial Group, Inc.

Big data and predictive analytics have not yet altered the course of the insurance industry, but they will. Over the next decade, the use of advanced analytics will have a dramatic impact on the insurance space in three key areas. First, I...

Big Data for Better Insurance
Insuranceciooutlook >> cxoinsights

Avani Desai, Principal & EVP, Schellman & Company, LLC

Based in China, ZhongAn Online P&C Insurance Co. (“ZhongAn”) has taken the insurance world by storm by offering a series of unusual and unique insurance policies, such as those aimed at supporters during the 2014 World Cup by...

Influence of Big data in Insurance
Insuranceciooutlook >> cioviewpoint

Steven Broz, CIO, Progressive Insurance

Benefits of Big Data for the insurance sector Big Data has had a big impact on the insurance sector. For Progressive in particular, the use of Big Data has allowed us to collect and analyze more than 18 Bn miles of driving data, from which...

Big Data is all around
Insuranceciooutlook >> cioviewpoint

Scott Hannagan, CIO, Leavitt Group

Recently, I was commuting frequently to a site which needed some issues addressed.  On the third trip to that office, I noticed that when my phone connected to the bluetooth of my vehicle, it popped up a notification letting me know how the...

Evolving Insurance Arena
Insuranceciooutlook >> cioviewpoint

Gregg Nickerson, SVP & CIO, MAPFRE Insurance

Key Focus Points Innovation is no longer the sole domain of a technology department as successful change is required to maintain competitive standing. Many companies have recognized that all players within the organization have the opportunity...

Driving Insurance Agent Productivity with Mobile and Big Data Solutions
Insuranceciooutlook >> cioviewpoint

Brad Bodell, SVP & CIO, CNO Financial Group, Inc.

Life and health insurance agents in the U.S. live in a bit of a quandary in this ever-changing industry. The need for professional advice has never been more critical for consumers trying to navigate changes in health care laws and insurance...

Calling Edmund Berkeley...
Insuranceciooutlook >> cxoinsights

Feroz Merchhiya, CTO-Director of Technology, California Insurance Guarantee Association

Recently I came across a survey conducted by the Hartford Financial Services Group. The study reports that millennials entering the workforce are likely to avoid insurance industry as a career choice. What it found is that the young generation,...

Forestalling Risks in the Insurance Arena
Insuranceciooutlook >> cxoinsights

Christopher Keegan, Senior Managing Director at Beecher Carlson

Insurance companies deal with large volumes of information and financial data, and this defining feature increases the risk of encountering cyber security threats and malware attacks. Amidst the current technology climate where organizations...

Forestalling Risks in the Insurance Arena
Insuranceciooutlook >> cxoinsights

Christopher Keegan, Senior Managing Director at Beecher Carlson

Insurance companies deal with large volumes of information and financial data, and this defining feature increases the risk of encountering cyber security threats and malware attacks. Amidst the current technology climate where organizations...

How the Digital Revolution is Transforming Life Insurance
Insuranceciooutlook >> cxoinsights

Milka Kirova, Senior Economist, Swiss Re

New technologies are paving the way for a revolution in the way insurers write business, handle data and engage consumers. The benefits of the digital age are already being felt in life insurance. New data sources and online platforms offer new...

Keeping up with the Social and Digital Evolution in Insurance
Insuranceciooutlook >> cioviewpoint

Ursuline Foley, Corporate CIO, XL Catlin

There are at least five key competing drivers of Change at play in today’s Insurance Industry, those being; 1. Highly active M&A activity driven by the need to grow 2. Globalization 3. Regulatory Changes 4. Alternative Capital...

Digital Transformation Technology Implications for Insurance Companies
Insuranceciooutlook >> cxoinsights

Alan Royal, Head of Technology Innovation and Business Transformation, Strategy CIO

This year represented a year of material change in consumer buying practices. Many holiday purchasers have chosen online purchasing and fulfillment vs. the traditional “shopping mall” experiences. The implications for Insurance...

Steady Rise in Cloud Adoption in Financial Institutions: Report
Insuranceciooutlook >> news

FREMONT, CA: There is a steady increase in cloud adoption by financial institutions, recent surveys reveal.  The exponential growth of Big Data continues to alter the way banking industry addresses customer issues, notes Penny Crosman for...

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