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Main obstacles for implementing new tech in insurance market in Russia 2020

The primary problem for implementing innovative technologies in the Russian insurance market were regulatory restrictions, as per 50 percent of surveyed industry experts in 2020. Lack of ready-to-use IT solutions was the second most mentioned reason. Almost half of respondents also mentioned that insurance clients were not ready for new business solutions as a confining factor for the development of new technologies in this market.

Obstacles to developing new technologies in Russian insurance industry in 2020*

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Source

Release date

August 2020

Region

Russia

Survey time period

2020

Supplementary notes

* According to the source, such as when entering into insurance agreements or claiming losses.

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Statistics on "Insurance market in Russia"

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