Smart Contracts would lead to lower premiums for the consumer as the cost of processing claims would be reduced. This has been tested on a small scale already, the company AXA is using smart contracts for flight delay insurance.
http://www.businessinsider.com/axa-turns-to-smart-contracts-for-flight-delay-insurance-2017-9

IMHO, if smart contracts are successful in smaller areas of insurance such as "flight delay" we will see wider adoption as firms begin to catch on to smart contract capability.