New technologies & digital transformation

New technologies & digitization are constantly offering new opportunities in our lives. Technology can make products simpler, more direct, transparent and easier to manage.

What's the issue?

This also holds true for the financial sector, where we have seen a massive growth in online financial services. Consumers increasingly want to be able to research and buy life insurance and pensions in the same way they buy other goods and services.

New technologies also offer opportunities for both traditional and new players to offer financial services and capture parts of the value chain, such as online life insurance, apps/mobile solutions and financial dashboards.

What are the opportunities and what are the risks?

The entrance of new 'disruptive players' is inevitable. The increased use of data also increases the risk of breaches of data security or data privacy. At the same time, we see many opportunities. Digitization allows us to engage customers directly with individually relevant services, and to increase the efficiency of our operations.

What are we doing about it?

We are actively digitizing our businesses. Our focus lies in improving our connection to customers, allowing them to interact with us through the channels of their choice (omni-channel); understanding our customers better through data analysis; and streamlining our operations through digitization.

To execute this transformation, we are building our capabilities through new hires and the training and development of existing staff. We are also changing our structures to leverage capabilities across the organization through the Global IT Office, the newly created Center of Excellence for Digital and Digital Transformation Council. Digital transformation is a core element in our corporate strategy.