It isn't at all, but apparently any form of price/cost distribution is indistinguishable from any democratically 'owned'/managed/controlled productive enterprise.

Using this logic, a giant conglomocorp that uses 10% of the profits from one line of business to internally subsidize an expanding line of business hoping to gain a monopoly there, is socialist.

Just throw on a subscription model where some users barely use the service and others use it maximally, if you need the analogy to be more accurate.

What would actually make an insurance company socialist is if it were a worker owned co-op, where all workers voted on large company policy changes, hell maybe even include the policy holders in those votes too!... or if the entire thing were a government agency in a faaaar more direct, transparent and accountable democracy than what exists in the US currently.