Not unsurprising in the least. In addition to the concerns you mention, the OP’s concerns are also somewhat nonsensical. Private insurance has very little interest in eliminating its customer base nor pricing them out.
Based on what I learned from my last employer which was an insurance group, overall the interest in big data is about:
- trying to achieve savings on running many different DBs which often have licensing and legacy costs as well as the complications of all the data interchange software
- Getting better around detection and prevention of fraudulent claims.