30 Greenfield insurers will evolve Insurers will learn from the broader FinTech community, building their own greenfield operations based on straight-through digital processing. This will span not only distribution and transactional business but also claims and dynamic underwriting. In this way, insurers will move past the inflexible and inaccessible legacy systems currently acting as a barrier to innovation, with greenfield insurers embracing a modular approach. Disruption from scale-ups and big tech As well as competition from tech giants, we expect to see startups coming together to become disruptive scale-ups with broader capabilities and ambitions. Startups with specialization in different parts of the value chain may come together to launch their own greenfield operations. In this scenario, we expect these scale-ups to work directly with first mover reinsurers to provide capacity, cutting incumbent providers, and slower reinsurers out of the mix.