The following are just a sample of some of the most interesting findings from the survey:
92% of insurers reported that operations modernization is either their top two or their top three to five priorities for the next two years.
Yet 44% admitted that they are just developing their strategies now.
At the same time, legacy systems continue to cause challenges. For example, 32% of respondents reported that it currently takes 7-12 months to make an underwriting rule change and deploy it into production.
The report also provides valuable recommendations for insurers looking to improve their transformation efforts.