Maybe in some platonic ideal, but in practice a) consumers (and even brokers) aren’t that sophisticated, and b) likelyhood of the company being around in 20 years isn’t baked into the price. When I shopped for insurance there were only 3 options with contract terms that passed muster, and all three companies are large ones that I’d expect to be around in 20 years to a degree that has no relation to the price quotes I got.