What ever position you find yourself in its because of decisions you have made in the past. Insurance companies will not go out of business because of the blockchain, they will go out of business because they chose to put the odds on their side and not pay out legitimate claims. Solutions are developed because of an existing problem. If there was no problem then solutions like what the blockchain could solve would never have been invented in the first place.
Below is an article about a life insurance policy, where the individual was killed in a shooting, and they refused to payout because they claimed the man didn’t disclose the fact that he had diabetes. Are you kidding me!
The company eventually paid out because of the publicity. This is the exact reason why insurance companies will go out of business, not because the blockchain was invented but because they are theives.