Banks and Insurers are done for so many different reasons.

• Tech is getting into it (new laws could allow facebook to be your bank account for example), even Telco KakaoWeb in Korea and Orange in France & Africa.
• We "could" all pay via ApplePay/AliPay/BitcoinPay in the future, no need for banks
• Cryptos make transfer cheap, fast and secure
• Decentralized blockchain could act as a Bank without having to employ hundreds of people and make benefits (you pay a little premium that goes into a pool of money managed by a blockchain style app that will insure all contributors, no fees, no employees)

I might even write about this in the future in a more detailed and professional way :).