Channels to market get more varied which helps innovation in products as insurance transitions from annual policies to subscription models and "Insurance-on-Demand.
Mind you, the large insurers are working from the other end of the spectrum e.g. Allianz.
See "Allianz harvesting digital dividend"
This shows the dynamic progress in the insurance industry as it tackles the challenge of wrapping digital platforms around legacy systems of record.
The Digital Claims Director has more choice than ever wherever she is on the digital transformation journey
Element provides property, accident and liability insurance. The company is pursuing an "insurance-as-a-platform" approach. In this way, the founders create business partners who may not have an insurance license, the opportunity to offer their clients the appropriate insurance model. According to the company, the range of possible partners of InsurTechs, ie start-ups offering digital insurance services without having a BaFin license, extends to established insurance companies through established brands and dealers who want to expand their range of insurance services.
https://www.gruenderszene.de/allgemein/element-versicherung-bafin-lizenz