Copyright © 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.December - 27 - 2021, Volume 07 - Issue 13 (ISSN 2644-240X) Published by ValleyMedia, Inc. To subscribe to CIO ApplicationsVisit www.cioapplications.com Managing EditorJoe Phillip*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffSalesSebastian Jacobsebastian@cioapplications.comEmailsales@cioapplications.comeditor@cioapplications.commarketing@cioapplications.comEditorialIT Takes Center Stage in the World of Insurance Global insurance premiums are predicted to recover quickly despite the fall in 2020 due to the unexpected pandemic that has disrupted every sector. Recovering from the hit that the economy took last year, insurers are better prepared for challenging market conditions in 2021, including limited growth and higher premiums. We find them introducing new coverage limits and adding new terms and conditions to policies to ensure they are not affected too hard by any potential further waves of Covid-19.The insurance industry has always been data-driven, and Big data in the insurance market has made insurance companies increasingly flexible. Owing to our propensity for personalization, companies are now providing tailored services with fairer premiums to buy in customers. Brokers are using an agile IT model to deliver new applications and softwares to engage the customers in 2021's tech-driven market. The tech-driven approaches have the added benefit of automating parts of underwriting, risk assessment, and fraud identification processes, freeing up insurers and underwriters to more critical tasks while improving accuracy and efficiency.With the increased use of IT, concerns of cybersecurity are also around the corner. It is in this quandary, blockchain technology is viewed as a savior of all. With the adoption of blockchain, insurers can create self-executing `smart' contracts allowing them to track claims and update conditions consistently. This means less work for insurers and more transparency for customers, as well as enhanced security. Sounds like the perfect solution for the future?This edition aims to provide readers insights from industry leaders to help them have a detailed understanding of the Insurance Technology Solutions arena and the recent developments in this field.Let us know your thoughts.Joe PhillipManaging Editoreditor@cioapplications.comJoe PhillipGraphics & ArtVictor cruzEditorial StaffBen JacksonDaniel HolmesEzra BenjaminJune MichaelRose DcruzSenior WritersClara MathewLeah JaneRoyce D'Souza
< Page 5 | Page 7 >