An interesting article on myinsuranceshark.com about why predicting legacy insurance carrier demise at the hands of insurtechs is wrong.

They posit that these predictions don’t take into account game theory like behavior such as what the incumbent legacy carriers will do. In the end, these legacy carriers have significantly larger balance sheets and if they are nimble enough, they could imitate or even wait out the demise of these smaller insurtech startups.
Kaenan is a professional in the areas of block chain, telematics, wearables, analytics, artificial intelligence (AI) and insurtech. He has played a key role in innovating many start-ups and established carriers. He is a sought after speaker for conferences and media. Throughout his career he has held leading roles within Marketing Strategy and Decision Management with top Insurance, Banking and Finance companies, including USAA, Citibank and Sallie Mae.