Some survey results from RDT, which suggest that there is more to be done on automated systems across the insurance chain;
RDT (https://rdt.co.uk/), a leader in digital transformation solutions for the insurance market, has released the latest insights from its industry poll, highlighting significant barriers to automation across claims and policy management. According to the findings, 63% of insurance leaders cite financial pressures as a core barrier to adopting automation, particularly in claims management, as the sector navigates post-pandemic budget challenges.
The poll also reveals that over two-thirds (67%) of respondents feel competitors have rushed into automation without a well-thought-out, step-by-step plan to ensure effective platform enhancement. This follows on from RDT’s previous survey, where a striking 85% expressed concern over rushed automation initiatives within the market, underlining the need for careful planning and execution to achieve long-term gains.
Further findings shed light on the major challenges faced by insurers in their digital transformation journey:
– Budget constraints: 80% highlight budgetary limitations as the primary challenge.
– Legacy systems: 67% of respondents struggle with outdated tech infrastructure.
– Resistance to change: 60% report cultural resistance within their organisations.
– Lack of expertise: 34% cite skill gaps as a barrier to progress.
These figures show an increase in financial and cultural obstacles compared to RDT’s last poll, in which only 60% pointed to budget issues and 39% noted resistance to change. This upward trend reflects the mounting complexities within digital transformation, exacerbated by economic pressures and the need to upskill in the face of rapid technological advances.
Joe O’Connor, Deputy CEO at RDT, commented:
“Our latest poll highlights the critical need for insurers to balance automation ambitions with budgetary realities and constraints of their legacy infrastructure. RDT’s ACE architecture is specifically engineered to ease this transition by dramatically reducing implementation time and change costs, empowering insurers to focus on driving innovation and enhancing customer experience. This approach is essential in a climate where insurers are under pressure to modernise while remaining cost-effective. It’s clear that an agile but carefully phased, strategic approach to automation will deliver sustainable value, rather than rushing into solutions that may create further challenges.”
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