The primary problem for implementing innovative technologies in the Russian insurance market was legacy IT, as per 65 percent of surveyed industry experts in 2021. Regulatory restrictions were the second most mentioned reason. Over 40 percent of respondents also mentioned lack of ready-to-use IT solutions as a confining factor for the development of new technologies in this market.
Obstacles to developing new technologies in Russian insurance industry in 2021
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KPMG. (July 29, 2021). Obstacles to developing new technologies in Russian insurance industry in 2021 [Graph]. In Statista. Retrieved May 29, 2022, from https://www.statista.com/statistics/1091467/russia-obstacles-for-implementing-new-tech-in-insurance-market/
KPMG. "Obstacles to developing new technologies in Russian insurance industry in 2021." Chart. July 29, 2021. Statista. Accessed May 29, 2022. https://www.statista.com/statistics/1091467/russia-obstacles-for-implementing-new-tech-in-insurance-market/
KPMG. (2021). Obstacles to developing new technologies in Russian insurance industry in 2021. Statista. Statista Inc.. Accessed: May 29, 2022. https://www.statista.com/statistics/1091467/russia-obstacles-for-implementing-new-tech-in-insurance-market/
KPMG. "Obstacles to Developing New Technologies in Russian Insurance Industry in 2021." Statista, Statista Inc., 29 Jul 2021, https://www.statista.com/statistics/1091467/russia-obstacles-for-implementing-new-tech-in-insurance-market/
KPMG, Obstacles to developing new technologies in Russian insurance industry in 2021 Statista, https://www.statista.com/statistics/1091467/russia-obstacles-for-implementing-new-tech-in-insurance-market/ (last visited May 29, 2022)