More than 50% of insurers across the globe understand and accept that they are lagging behind other financial services with reference to digital technology. While they have embraced the shift, and moving away from what was created back in the 70s or 80s, one of the things they have identified as the biggest hurdle is the legacy systems [for digital transformation].

With the advent of new gadgets [handheld devices], customers are demanding services be made available anytime, anywhere and accessible from any device. It is crucial that insurers modernise their legacy systems to ensure business continuity and for growth.