My POV is that - ulu ulu insurance company with "low risk" crowds of customer, lesser chance of having high claims or lesser claims thus premium is lower and cheaper. This kind of company is a sure win earn $$$ type. With mature and low risk crowds, they can offer cheaper premium. With lesser claims, premium paid will sure to earn $$$.
In the sense if company have strict policies for selective premium customers, the claim remain low and vice versa for those big insurance company eg. AIG, NTUC etc, too many rojaks types of crowds, high risk ppl within and thus the high claim tribute to higher premium.
Number of premiums doesn't really contribute to amount of profit, that's why company are begining to selective choosing customer based.