Aon's Reinsurance Solutions’ Post

💭Let's explore the key trends shaping the Metaverse insurance landscape! 🌎 Join us for a free webinar, register now: http://spr.ly/6041k8XFF 🕓 Time: 10:30 ET/15:30 BST 📆 Date: May 15 🚀 Overview: What is the Metaverse? 🚀 What does the #insurance market for the #Metaverse look like today? 🚀 What other elements in the Metaverse have the potential to be insured? 🚀 Can virtual real estate be insured against virtual disasters? 🚀 How to determine the value of virtual assets and coding? 🚀 Considerations when insuring Non-fungible tokens (#NFTs) within the Metaverse 🚀 How to authenticate and accredit these digital possessions? 🚀 Challenges with a lack of standard legal and regulatory framework 🚀 How insurers should think about questions about jurisdiction and the applicability of insurance regulations Panel: Amy Harding, Strategy Consultant, Strategy and Technology Group, Aon Wouter Bosschaart, Director, Strategy and Technology Group, Aon Armin Satzger, Market Risk Analyst, Group Risk Management, Swiss Re Justin Shattuck, CISO, Resilience Moderator: Meg Green, Senior Editor, Insurance Insider In Partnership with Aon #InsiderOnAir

💭Let's explore the key trends shaping the Metaverse insurance landscape! 🌎 Join us for a free webinar, register now: http://spr.ly/6044boNZ0 🕓 Time: 10:30 ET/15:30 BST 📆 Date: May 15 🚀 Overview: What is the Metaverse? 🚀 What does the #insurance market for the #Metaverse look like today? 🚀 What other elements in the Metaverse have the potential to be insured? 🚀 Can virtual real estate be insured against virtual disasters? 🚀 How to determine the value of virtual assets and coding? 🚀 Considerations when insuring Non-fungible tokens (#NFTs) within the Metaverse 🚀 How to authenticate and accredit these digital possessions? 🚀 Challenges with a lack of standard legal and regulatory framework 🚀 How insurers should think about questions about jurisdiction and the applicability of insurance regulations Panel: Amy Harding, Strategy Consultant, Strategy and Technology Group, Aon Wouter Bosschaart, Director, Strategy and Technology Group, Aon Armin Satzger, Market Risk Analyst, Group Risk Management, Swiss Re Justin Shattuck, CISO, Resilience Moderator: Meg Green, Senior Editor, Insurance Insider In Partnership with Aon #InsiderOnAir

Insurance and Metaverse? That's what I have been reading a lot about. I was lucky to have worked with Liberty Mutual folks in the past and I have always found them experimenting at the end of Insurance and Tech Innovation. True to their culture, I stumbled on this article written by one of their next gen underwriters @Larissa Lampert on how any Insurer can confidently enter the metaverse to not only start insuring digital art but venture into new web3 economic trails... https://lnkd.in/emk4YaSZ

If you want to read about something new and a little bit outside the realm of the current insurance landscape in Ireland, this article by my colleagues in the UK has some interesting thoughts on the potential for the metaverse and digital twins to transform the insurance industry - a great 10 minute read to get you into 'back-to-school' mode after the summer holidays! #insuranceInTheMetaverse #riskmanagement #emergingrisks #emergingoppurtunities

🤖The Metaverse has the potential to redefine the Insurance landscape. Milliman UK consultants Claire Booth, Ian Penfold and Monique Mahabir look at what the metaverse is and how it could transform the insurance industry in our recent paper. In particular the paper focuses on: ·      How the metaverse has evolved ·      Potential uses cases for insurers ·      New risks and challenges that insurers may face 🔗Read our paper here: https://lnkd.in/dM3s7jzt   Please reach out if you would like to discuss further.   #MillimanUK #Milliman #Metaverse #InsuranceInTheMetaverse

🤖 Companies can leverage the transformative power of the metaverse to attract a younger demographic and keep customers engaged with their insurance plans. Some companies have devised new approaches to insurance sales and plan visibility by using the metaverse. For example, hybrid life insurance company and mobile game start up, YuLife, has created a life insurance metaverse. Their "Yuniverse" is a collection of virtual worlds, each representing a set of real-life tasks, from bike miles to meditation hours to step count. Customers are rewarded with a virtual currency for using the mobile game, which can be converted to vouchers. 🔗 𝐒𝐨𝐮𝐫𝐜𝐞: https://lnkd.in/ecyHgxnS   https://yulife.com/ #MillimanUK #Milliman #Metaverse #InsuranceInTheMetaverse

#fineart in the #metaverse - Unlocking opportunities and managing risks. See valuable insight from Liberty Specialty Markets https://ow.ly/Sn7K50QuJZ9 #insurance #riskmanagement #digitalwallets #digitalassets #FreeInsightNoPayWall

Digital Insurance revisits our most read stories of 2023. From June: For insurers large and small, the metaverse can be either a place to take risks or a place to reduce risks. SPOKK Insurance’s CEO sees it as a “first step to start insurance of digital assets.” State Farm innovation executive Jim Ryan says carriers need to do more than make a virtual storefront. https://bit.ly/48H7f6N #Bestof2023 #metaverse #insurtech

𝐈𝐧𝐬𝐮𝐫𝐓𝐞𝐜𝐡 – 𝐒𝐡𝐚𝐤𝐢𝐧𝐠 𝐔𝐩 𝐭𝐡𝐞 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲, 𝐎𝐧𝐞 𝐀𝐥𝐠𝐨𝐫𝐢𝐭𝐡𝐦 𝐚𝐭 𝐚 𝐓𝐢𝐦𝐞 The insurance industry isn’t exactly known for moving fast—but that’s changing, thanks to 𝐈𝐧𝐬𝐮𝐫𝐓𝐞𝐜𝐡. From AI-powered claims processing to usage-based policies, InsurTech is flipping the script on how we think about insurance. And let’s be honest, it’s about time! For too long, insurance has been bogged down with paper forms and slow processes. But today? It’s all about speed, personalization, and efficiency, driven by technology. 𝐖𝐡𝐚𝐭’𝐬 𝐝𝐫𝐢𝐯𝐢𝐧𝐠 𝐭𝐡𝐞 𝐈𝐧𝐬𝐮𝐫𝐓𝐞𝐜𝐡 𝐫𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧? 𝐀𝐈 𝐢𝐧 𝐂𝐥𝐚𝐢𝐦𝐬 𝐏𝐫𝐨𝐜𝐞𝐬𝐬𝐢𝐧𝐠: Gone are the days of waiting weeks for a claim to be processed. AI can now handle claims in real-time, assessing damage and payouts with incredible accuracy. 𝐔𝐬𝐚𝐠𝐞-𝐁𝐚𝐬𝐞𝐝 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞: Thanks to IoT, we can now offer policies that fit how you actually live. Whether it’s auto insurance based on how much you drive or health insurance tied to your fitness habits, policies are getting more personal—and fairer! 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞: InsurTech is all about making life easier for the customer. From easy onboarding with apps to quick policy comparisons, it’s never been simpler to get covered. 𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐟𝐨𝐫 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲: Yes, blockchain again! InsurTech companies are leveraging blockchain to create transparent, fraud-proof insurance contracts that benefit both the insurer and the customer. Personally, I think 𝐈𝐧𝐬𝐮𝐫𝐓𝐞𝐜𝐡 is a breath of fresh air. It’s making the industry more agile, customer-focused, and—dare I say—exciting. Customers no longer have to dread interacting with their insurance providers. With the right tech, insurance can finally deliver the kind of experiences that customers expect in the digital age. How’s your company leveraging technology to revolutionize insurance? Let’s connect and chat—I’m always up for a good InsurTech discussion! To download more content, please fill out this form: https://lnkd.in/ed87i_4V #InsurTech #InsuranceRevolution #DigitalTransformation #AIInInsurance #CustomerExperience #Blockchain

In my recent publication in The Insurer I shared some thoughts on the role of AI in the insurance industry and how it allows insurers to achieve more in a shorter time, with fewer errors and greater flexibility, and the potential to unlock new insurtech efficiencies. This new article by Valeria Hernandez mentions my publication, and I can recommend it as a great way to find out what are the primary drivers behind the expansion of insurtech.  The value of the global insurtech market reached over $16 billion in 2023, but is expected to exceed $336.5 billion (!) within nine years. This growth is powered by the advancement of AI technology, machine learning, blockchain and new data analytics tools. Disruptive insurtech companies have been successful not only by leveraging the latest tech to offer innovative, convenient insurance products, but also by streamlining and optimising the customer experience. These enterprises are well aware of the need to cultivate a user-centric approach, a key element in an era when customers increasingly demand more personalised, fully digital experiences. https://lnkd.in/dp-zCb6w #insurtech #insurance #digitaltransformation