I'm sorry, but no it's not.
You could very well be correct that they take this very seriously, I'm not in a position to speculate.
However, they do function as cartels, and the free market does not serve to regulate ad-hoc price fixing schemes amongst them. Simply google "insurance cartels". Buy some books on the topic. Read some papers.
Again, I'm not denying that actuarially, climate change is a real coefficient. But the assertion that the free market would bring to light any kind of price-fixing scheme? Horse-shit.