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.
- 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.
- 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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