A second game changer is big data. The collection and analysis of big data provides the foundation for more personal and better-priced services.

In addition to these two major trends in digitization, the customer approach is also changing. It now has to be multi-channel, with personalized self-service dashboards and customized products. Only want to insure your yacht when it leaves the port? This will be possible soon.

Forward-thinking banks and insurance companies are currently taking major steps towards cloud computing to increase their effectiveness through the use of the Internet of Things, artificial intelligence, blockchain and big data.