This article is one of the most relevant and interesting I've seen and a challenge to all insurtechs. Frederik's views accord with mine when I had to digitally transform a global hotel chain.
Technology vendors are generally far too arrogant, over-hype the benefits and under-stare costs, lead-times and complexity.
Valuable lessons here
Back to the second reason insurtechs are not more successful with incumbents: The legacy systems used by incumbents. And IT. The organization. Internal politics. Turf wars. Silos. Egos. All these issues must be overcome for insurtechs to successfully join an incumbent and actually being able to change the state of the personal insurance industry. Many incumbent insurers try to overcome this by creating their own, year-long, digital transformation projects aimed at changing what is to something new. They face indefinite resistance from the powers that be and when / if implemented, the world would’ve moved on and a new digital transformation project is required