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Here’s why digitization is to insurance what streaming technology was to the video market. (Photo: Shutterstock) Here’s why digitization is to insurance what streaming technology was to the video market. (Photo: Shutterstock)

In 2004, when Blockbuster was at its peak, the video rental company operated 9,000 stores across the globe, employed 60,000 people, and posted $5.9 billion in revenue. The notion that a rival service like the seven-year-old Netflix could dethrone Blockbuster seemed far-fetched. But within six years, Blockbuster had filed for bankruptcy as Netflix soared in popularity.

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