Metaverse in Insurance – Thematic Intelligence

Metaverse in Insurance Thematic Report Overview

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.  While the metaverse is still in its infancy, it presents new opportunities for insurers. A virtual world involving the sale of digital assets will inevitably require cyber insurance for protection against metaverse commerce risks. These cyber policies must cover virtual losses in the metaverse that may arise from hacking, data theft, and other cyber risks. It could allow insurers to expand their insurance policies to cover risks associated with virtual activities, transactions, and assets.

The metaverse in the insurance industry 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.

For more information on the metaverse in insurance industry, download a free sample report

Metaverse Industry Analysis

Metaverse is expected to grow at a CAGR of more than 32% during 2020-2030. Over the next decade, the growth of the metaverse will depend on the maturity of underlying technologies such as AR, VR, AI, cloud, and blockchain, many of which are in the early stages of development.

Insurance companies increasingly create platforms and apps that establish pre-determined goals, like fitness targets, and encourage customers to fulfill them in exchange for benefits such as shopping vouchers. To do this, some insurance companies are already investing in the enabling technologies of the metaverse, such as augmented reality (AR), virtual reality (VR), and blockchain.

To make the metaverse immersive and intuitive, companies like Qualcomm and Nvidia are embedding AI in chipsets used in smartphones and headsets, while Meta and Microsoft are using AI to enhance motion tracking systems. AI consulting and support services will also be critical for the developers of metaverse platforms and experiences. They will need to work with consultants (such as Accenture and Deloitte) to eliminate issues like biased data and unchecked algorithms, improving the quality of experience for users.

The metaverse in insurance industry report also covers –

• Mergers and acquisitions
• Company filings trends
• Hiring trends
• Metaverse timeline

Global Metaverse Market Revenue (2020-2030)

For additional insights on the metaverse industry analysis, download a free sample report

Metaverse in Insurance Industry Value Chain

The key metaverse in insurance industry value chain components includes the foundation layer, tools layer, user interface layer, and experience layer.

Foundation layer: The foundation layer sets out the primary building blocks of the metaverse, which include semiconductors, components, connectivity, data management, and blockchain. The metaverse will need massive computing power to merge the physical and digital worlds. As a result, semiconductors will be a key battleground. Semiconductor companies must develop specialized chips for metaverse platforms, user interfaces, and experiences. The prime demand for high-performing semiconductors will come from platform developers and data center providers.

Metaverse in Insurance Industry Value Chain Analysis

For more insights on the metaverse in insurance industry value chain, download a free sample report

Metaverse in Insurance – Competitive Landscape

Leading Metaverse Adopters in Insurance

Some of the leading metaverse adopters in insurance are:

• AIA
• Allianz
• AXA

Leading Metaverse Vendors in Insurance

Some of the leading players within the metaverse theme are:

• Alibaba
• Alphabet
• Apple

Specialist Metaverse Vendors in Insurance

The specialist metaverse vendors in the insurance industry are:

• Animoca
• Decentraland
• Hololux

To know more about the leading metaverse adopters, vendors, and specialist vendors in insurance companies, download the free sample report

Life Insurance Scorecard

The life insurance scorecard approach predicts tomorrow’s leading companies within each sector. Our sector scorecards have three screens: a thematic screen, a valuation screen, and a risk screen.

• The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.
• The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
• The risk screen ranks companies within a particular sector based on overall investment risk.

Life Insurance Sector Scorecard

For more insights on the sector scorecard analysis, download a free sample report

The report also includes:

• Non-life insurance sector scorecard

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.