The obvious question is "Which insurers will be buffeted and suffer most from these shockwaves?" Remember that McKinsey has evidence that four to seven insurers in any one market will capture the majority of premiums and profits.
See "Winner takes most in digital transformation" which has link to the McKinsey Research.
If ever there were a time when insurers of all sizes should adopt the vision, strategies and technologies to fight titans like Allianz it is now. Otherwise you face becoming one of the long tail of insurers sharing a diminished pot of premiums and probably negative profitability. See "UK motor insurers face losses this year".
Act now!
“This is not a great deal for other companies in the market,” said Kamran Hossain, an analyst at RBC Capital Markets. “Allianz is not renowned for being aggressive on market share, but over the long term they could have a cost advantage over other companies.” As well as the dominant operators, the UK market consists of a large number of small and midsized companies jostling to win market share by offering heavy discounts for new customers on price-comparison sites. That increases the pressure on other providers to follow suit or risk missing out on new business.
https://www.ft.com/content/66320a38-8933-11e9-a028-86cea8523dc2
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