The world is changing, the universe of risks is expanding, and the conditions for doing insurance business are becoming more complex. Insurance, which largely reflects the tensions and contradictions of its environment, must adapt to the changes and fluctuations that are taking place in this environment. Faced with an industry that has been changing while retaining strong traditional components, many experts have been announcing for nearly ten years the coming great disruption of insurance. But, this is slow to come and the few challenging initiatives did little to shake traditional players. However, the current strategic challenges force insurance to adapt and change fundamentally. This article aims to identify these strategic challenges, analyze the industry's capacity to meet them and assess the changes they will ultimately impose on insurers.