Yes, Insurance is at the biggest crossroads in its +300 years history since the LLoyd's coffee shop.

Going out the window is the principle of "Aggregation of Risk" i.e. the premiums of the many pay for the claims of the few (but you don't know who the "few" are). 

Coming in is the individual underwriting of risk, based on personalised data which will arrive and update the nature of the risk and the likelihood of a claim every 60 seconds, through IoT devices.

With variable and dynamic pricing, fluctuating against this data, insurers will manage their exposure and help clients manage their risk (of claim).

In a few years time insurance will be nothing like what we know it to be today. The question is do you want to work for a traditional insurance company or a data driven, personalised, risk management company?

There will be survivors and there will those who don't make it. I am sure you can probably work out which they will be already!