The market for insurance and financial services is one of the biggest markets in the world, accounting  for ~8% of the global GDP or € 4.5 trillion. The financial sector faces strict supervision and regulation which creates an entry barrier for start-up companies. Moreover, finance products are highly complex, trust-based goods. As a consequence traditional banks and insurance companies have long been protected from competition by new digital entrants. However this is changing: Consumers are getting used to purchasing products and services online. E-Commerce, which started with simple and standardized products such as books, expanded into more complex categories such as textiles and electronics . It is now time to disrupt highly complex and trust-based goods such as financial services. Banks and insurances are the next big frontier.