The future of insurance asset protection in the metaverse

In Brief

• "The metaverse could offer an experience that maintains that personal face-to-face interaction in the digital model, when you're able to introduce more visually engaging ways to help buyers understand product features and tradeoffs."
• "Anything that has value against it, and [virtual assets] are predicted to have significant value against, will have to have different insurance products that will have to be developed to protect that value going forward."
• "I think the industry is evolving itself even beyond the metaverse. There are big changes coming to the industry; five to 10 years from now, we'll have driverless cars; there will be a lot of uncertainty in weather patterns and climate; and we'll have people actually operating and exchanging money through crypto currencies and exchanges. Big changes."

What will insurance look like in the metaverse future? To help sort it all, the VISION by Protiviti podcast welcomes a panel of Protiviti insurance experts, including managing directors Shawn Seasongood and Tom Luick, as well as director Jackie Simmons. Alex Weishaupl, a managing director with Protiviti Digital practice, leads this important discussion.

In this podcast:

1:30 - Key issues in customer experience

5:40 - Claims processing

9:50 - Employee experience and talent

14:45 - Metaverse and consistency

18:25 - Unlocking strategies

23:02 - Speed of change by types of insurance

28:45 - Constraints that will slow adoption

35:25 – The next 10 to 15 years

For more insights on the future of the metaverse, please visit https://vision.protiviti.com/