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Metaverse in Insurance - Thematic Intelligence

Publisher GlobalData
Published Jun 15, 2023
Length 64 Pages
SKU # GBDT18051003

Description

Metaverse in Insurance - Thematic Intelligence


Summary

This report provides an overview of the metaverse value chain, including leaders and challengers for each sub-segment. It explores key challenges in the insurance industry, and how metaverse technologies can help solve them. Market size and growth forecasts for the metaverse are also provided, along with case studies showing use cases for the metaverse across the insurance industry.

The metaverse is a virtual world where users share experiences and interact in real-time within simulated scenarios. It is still largely conceptual but could transform how people work, shop, communicate, and consume content. A virtual world involving the sale of digital assets will inevitably require cyber insurance for protection against metaverse commerce risks. There is currently a gap in digital protection, and cyber policies must cover virtual losses in the metaverse. These will range from virtual property insurance and business interruption insurance to cybersecurity and virtual theft insurance. Insurers could also use the metaverse to drive customer engagement. As the metaverse develops, there will be a growing need to develop innovative insurance products and services.

Scope
  • As more businesses enter the metaverse to further their offerings, it will require a greater variety of insurance policies in the metaverse. These will range from virtual property insurance and business interruption insurance to cybersecurity and virtual theft insurance.
  • According to GlobalData forecasts, the metaverse will become a $627 billion industry by 2030, recording a compound annual growth rate of 33% over 2020–30
  • Growth of the metaverse will rely on key technologies such as augmented reality, virtual reality, artificial intelligence, cloud, and blockchain.
Reasons to Buy
  • Understand the metaverse and its current and future impact on the insurance industry.
  • Learn how deployment of the metaverse can help with the key challenges the insurance sector faces.
  • Identify the leading metaverse adopters and specialist metaverse vendors.

Table of Contents

64 Pages
Executive Summary
The Metaverse Value Chain
Key players in the metaverse value chain
Foundation layer
Semiconductors
Components
Connectivity
Data management
Blockchain
Tools layer
3D engines
Artificial intelligence
Visualization engines
Payment platforms
Adtech
User interface layer
Experience layer
Insurance Challenges
The Impact of the Metaverse on Insurance
How the metaverse helps resolve the challenge of ESG
How the metaverse helps resolve the challenge of personalization
How the metaverse helps resolve the challenge of cybersecurity
How the metaverse helps resolve the challenge of embedded insurance
How the metaverse helps resolve the challenge of lack of trust in insurers
Case Studies
Hubb taps into the metaverse to enhance its customer engagement
Insurtech YuLife promotes life insurance through its Yuniverse
AXA France enters the metaverse with Axadia
Data Analysis
Market size and growth forecasts
Mergers and acquisitions
Company filings trends
Hiring trends
Metaverse timeline
Companies
Leading metaverse adopters in insurance
Leading metaverse vendors
Specialist metaverse vendors in insurance
Sector Scorecards
Life insurance sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Non-life insurance sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Glossary
Further Reading
GlobalData reports
Our Thematic Research Methodology
About GlobalData
Contact Us

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