FINTECH Books Contributors, Telly Valerie Onu, McKenzie Slaughter Follow: @teval @kenzieslaugh  @prohausvc For the first time in over a decade, the insurance industry has seen a proliferation of new players offering new ways to underprice risk, creating new types of premiums and servicing consumers in a tightly regulated on-demand economy. Decentralized ledger technology (DLT) One area that has the most potential in Internationalizing insurance is the Blockchain Technology. Made famous by the increased adoption of digital currencies, has the potential to facilitate crossborder risk underwriting through its transparent distributed database. The Blockchain’s ability to send, receive and store information has the underlying power to disrupt the way businesses process digital transactions in insurance. The implications of this is significant as it is not only transparent but highly secure. This fosters trust which means that any asset whether tangible or intangible can be assigned ownership and the transference between parties. This has the power to simplify back office claims processes and therefore reduces the costs of transactions which can then reduce the premiums for customers. Much like crowdfunding disrupted financing of SMEs, the power of the decentralized ledger technology and smart contracts can transition new models of insurance,such as P2P insurance into a new digital age. Peer-to-peer insurance (P2P) insurance empowers policyholders to a greater portion of the premiums rather than the individual private wealth managers working to produce returns for insurance companies.There is a growing number of startups which are adopting peer to peer and pooled methods to offer insurance. One example is Mindful Society, which is an alternative to insurance offering share pools to access complementary health providers this uses the policy holders’ social capital to replace underwriters P2P with the use of smart contracts can increase the speed of claims processing by better matching the demand between consumers and the online market place. If you would like to learn more about InsurTech please look at our video courses at FINTECHCircleInstitute.com