Professor Michael Mainelli & Simon Mills
Long Finance & Distributed Futures (January 2022), 59 pages.
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‘Metaverse’ describes interlinked, persistent, shared, artificial reality spaces. The portmanteau of ‘meta’, beyond, and uni-‘verse’ implies an alternate space for social commerce. Insurers may feel that their products and services lie outside this domain, but some insurance firms already use Metaverse approaches to help sell and manage insurance, e.g. YuLife - https://yulife.com/. This report explains the Metaverse, examines potential applications for insurers, and explores the business implications of widespread adoption of the Metaverse.