The key motivations to collaborate are: -

"77.2% identified ‘improved ability to enhance customer experience’, 59.5% ‘faster time to market’, 46.8% ‘new digital capabilities,’ and 40.5% ‘competitive advantage over peers.’ Insurtech categories that are being considered for short-to-medium partnerships include data specialists (according to 62% of incumbents), claims management solution providers (51.9%), front-office solution providers (51.9%), and technology specialists (55.7%)"

Gabriel Olano 2nd Oct 2018 Insurance Business

Faster time to market maybe more important than insurers think as McKinsey has proved that  Digital drives "Winner Takes All" leading to big winners and losers at top and bottom of a steep power curve. Just 4 to 5 insurers will capture the majority of revenue and profits leaving a long tail of unprofitable insurers in each sector.

These are the uncomfortable facts of digital transformation economics. See "Misunderstanding the economics of digital" and apply the right strategy.