Insurance trends in the metaverse
The metaverse and its underlying technologies offer significant commercial opportunities to drive growth for insurers in both the short and long term. Successfully laying the foundations for this growth requires clarity and flexibility across four commercial growth levers: strategy, sales, marketing, and monetization.
On October 28, 2021, Facebook Inc. officially rebranded as Meta Platforms, Inc., instantly making the metaverse the hottest topic in town. A little more than 12 months later, the narrative seems to have taken a 180-degree turn, with Meta losing close to 80 percent of its market capitalization since the announcement, and the wider Web3 industry having seemingly returned to its cyclical bear market, sometimes dubbed a “crypto winter.”
The loss in market capitalization can’t be attributed entirely to the shift in focus Meta announced in 2021; other strategic and operational factors also played a role, like the iOS 14.5 update…
