Fintech (Financial Technology) is an emerging industry that uses technology to improve activities within the finance industry, such as banking and insurance. Here are 5 facts about Fintech you should be aware of.

Financial Technology (FinTech) refers to the innovative use of technology in the design and delivery of financial services, such as insurance or banking. Besure, a peer-to-peer insurance platform, is one such FinTech innovation and offers customers customized risk sharing protection for the things they value most.

Some of the reasons why you may want to consider joining a Besure pool include:

  • You’ll have complete control over your insurance
  • A Besure pool will protect you against risks no traditional insurance will cover
  • Your pool members can provide you with financial, as well as emotional, support and advice
  • Any funds that are left over once your coverage has ended will be refunded
  • Member knowledge becomes communal knowledge, greatly reducing your risk

How Besure Offers Comprehensive Risk Protection

Free of the many drawbacks of traditional insurance, Besure utilizes the principles of FinTech to allow individuals to create pools, or communities, that will help them protect the things they value most.

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Why P2P Insurance is Becoming a Leader in FinTech

FinTech is a broad term that encompasses any technology designed to facilitate financial services. Both individuals and businesses are greatly benefiting from the emergence of these digital solutions, including virtual currencies, and of course peer-to-peer insurance.


Here are 5 aspects of P2P insurance that make it a leader in the FinTech revolution:

  1. It is built for speed. The modern roots of P2P mean that the infrastructure is wholly digital. This means that consumers can enjoy greater convenience and speed when it comes to making a claim and receiving a payout. Moreover, these online platforms allow P2P providers to operate at lower costs.

  2. It allows customers to enjoy lower premiums. P2P insurance companies are able to give consumers the benefit of lower premiums. This is because, unlike traditional firms, P2P companies, such as Besure, use online platforms, allowing them to get rid of any brick and mortar costs such as salaries, rent, and advertising. Instead, such companies invest their money in their clients.

  3. P2P ensures better customer service. P2P insurance companies use mobile connectivity to enhance the convenience, cost, and efficiency of their transactions. This is very important, especially in today’s world, where customers are increasingly using their smartphones and tablets to manage their finances.

  4. Customers benefit from a stronger social contract. Consumers have become increasingly disillusioned with banks and insurance companies, and for a good reason. Each year, there are more stories about unethical practices from even the largest institutions. With P2P insurance, you can enjoy a stronger social contract, because you are a group of like-minded people engaging in a practice that serves the common good. (Read More >)

  5. P2P insurance is breaking barriers. By going completely digital, P2P insurance companies are not confined by geographical barriers. This means that P2P companies can explore untapped markets by using technology as its vehicle.



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To find out more about Besure, and how our innovative P2P insurance platform can provide you with a more affordable, transparent, and customized insurance process, contact us at 403-460-6961 or fill out our online contact form.


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