The insurance industry is rapidly approaching a singularity in which the traditional insurance market will be turned on its head. The insurance model is heavily regulated, slow to change, and uses outdated measuring tools to determine and assign appropriate risk. As a result of stagnation, the industry as a whole produces a one-size-fits-all formula product which tends to not be competitive and only provide value to the end user if the worst happens. With the emergence of Artificial Intelligence coupled with blockchain technology geared specifically to address the insurance industry, everything is set to change overnight. Insurance companies who are resistant to embracing this new technological change will find themselves in a very perilous condition.