Around 37% of American seniors are targeted by financial scammers over a five year period. The most common form of contact is still through the post, but in Germany criminals are getting creative when preying on old people through 'grandchild ploys' over the phone.

The insurance industry is poised for radical change, with algorithms and big data driving more accurate premiums and faster claims processing. But German start-up Friendsurance is simplifying things, using relationships and incentives to encourage people to change their behaviour.

In Germany, where 80% of transactions are carried out in cash, card payments aren’t considered secure. Fintech start-up Number26 intends to change this perception, as – even in the land of pretzels, biergartens and traditionalism – people begin to test the waters of digital banking.

Young adults are not engaged with insurance, and that’s not surprising given that only 34% of Gen Y customers have had positive experiences with their insurer. So how can these companies better engage their young clientele? And what do Gen Yers expect when they purchase a policy?