Less than half of insurers have mobile functionality , with only 23 % having the capacity for users to submit and process claims digitally , says global law firm DLA Piper . Despite the number of internet users rising to 1 billion in the past 15 years , bill Piper says that insurers are still “ digitally immature ” , facing issues such as updating legacy technology systems , privacy requirements and internal cultural obstacles . DLA ##pp says that insurers need to implement a “ true digital transformation ” of their back - end models and to revamp their traditional models . As a result , insurers are investing heavily in start - ups , with a 43 % increase in the number of start - up investments since 2014 .
Less than half of insurers have mobile functionality, with only 23% having the capacity for users to submit and process claims digitally, says global law firm DLA Piper. Despite the number of internet users rising to 3.2 billion in the past 15 years, DLA Piper says that insurers are still “digitally immature”, facing issues such as updating legacy technology systems, regulation requirements and internal cultural obstacles. DLA Piper says that insurers need to undergo a “true digital transformation” of their back-end systems and to revamp their traditional models. As a result, insurers are investing heavily in start-ups, with a 43% increase in the number of start-up investments since 2014.