July 2019CIOAPPLICATIONS.COM6Copyright © 2019 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.JULY - 18, 2019, Volume 05 - Issue 38 (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 staffSalesEric Thomaseric@cioapplications.comEmailsales@cioapplications.comeditor@cioapplications.commarketing@cioapplications.comContact UsPhone: 510.330.5174Fax: 510.894.8405EditorialBoarding the AI BandwagonTechnology has come a long way, paving the way for industries such as insurance and banking. One of those technologies that have created the maximum impact is artificial intelligence (AI) with a track record of drastically reforming the information systems by making them far more adaptive to humans while improving their interaction with computers. Against this backdrop, AI in the insurance industry has turned the claims management process around by making it faster, more optimized and accurate. It has also given insurance carriers the ability to achieve better claims management by using AI for several aspects. With the help of AI, insurance companies can facilitate a real-time question-answer scenario, pre-assess claims while automating damage evaluation process, and claims fraud detection through rich data analysis. The power of AI ranges from smart chatbots that offer instant customer service round the clock to the machine learning technologies that can optimize the operations of any workplace through automation. And, these features are only expanding the potential for AI in insurance. With the increase in awareness and resources about the groundbreaking influence that AI has on insurance, the question arises about the extent to which its abilities can be pushed. With all the hype around AI, insurers are bound to question what the insurance solution providers have in store for them. Insurance carriers have plenty of benefits from investing in AI-powered innovation that can automate even the executive level tasks. In addition, it can also enrich service quality by helping insurance agents take the right decision and indisputable judgments. The use of AI can assure that carriers can reach out to prospective customers promptly, provide the appropriate set of products suited to the customer requirements, and accelerate claim support to loyal customers. In the era of AI and technology taking control of nearly every vertical, we highlight the current trends and solution providers that are at the vanguard of the insurance industry. Let us know your thoughts! Joe PhillipManaging Editoreditor@cioapplications.comJoe PhillipGraphics & ArtDeclan ColeJaxon JaseEditorial StaffAbhilash P. Jose Daniel HolmesEzra BenjaminJune MichaelRose DcruzSenior WritersClara MathewLeah JaneRoyce D'Souza
< Page 5 | Page 7 >