Talking about insurance float as a "competitive advantage" indicates a dangerous lack of understanding of its true failure mode.
This potential liability is not an unlimited low-cost fund, but premiums intended to cover claims, making it vulnerable to shocks.
The weakest link is the assumption that an unexpected event, such as a natural disaster or a pandemic, will not turn this "capital" into a colossal burden, requiring additional reserves and potentially calls for funds.
The perception of low cost is only an illusion when the risk of actual payment remains omnipresent and can materialize suddenly, as insurers demonstrated after Hurricane Katrina.
It is not a race for high-yield capital, but a prudent management of a constant financial attack surface.