By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
LigaAsuransi
Thursday, Jul 31, 2025
  • What's Hot:
  • Ulas Berita
  • Risk Recommendation
  • Berita Kecelakaan
  • Financial Liability
  • Asuransi Marine Cargo
  • Breaking News
  • Business
    • Marine
      • Asuransi Marine Cargo
      • Asuransi Marine Hull
    • Engineering
      • Asuransi Konstruksi
    • Liability
      • Financial Risk
      • Airport Liability Insurance
      • Asuransi Liability
      • Financial Liability
      • General Liability Insurance
      • Liability Insurance
      • Product Liability Insurance
      • Professional Liability Insurance
      • Public Liability Insurance
    • Property
      • Asuransi Properti
      • Asuransi Banjir
      • Property All Risk
  • Retail
    • Motor Vehicle
    • Life & Health
      • Asuransi Kesehatan
      • Asuransi Jiwa
  • Agrobisnis
  • Bisnis
  • Breaking News
  • LigaAsuransi TV
  • Indonesia
    • 中文
Reading: Where is the Metaverse in the world of Life Insurance?
Subscribe
Font ResizerAa
LigaAsuransiLigaAsuransi
  • Indonesia
  • Home
  • Vehicles Insurance
  • Marine Cargo Insurance
  • Insurance Clause
  • Cyber Risk Insurance
  • General Insurance
  • Golf
  • Risk Recommendation
Search
  • Marines
    • Marine Cargo
    • Marine Hull
    • P&I
    • Shipbuilders
  • Oil and Gas
  • Mining
    • Coal
    • Mining Industry
    • Asuransi Pertambangan
    • Industri Pertambangan
  • Power
    • Asuransi Pembangkit Listrik
  • Infrastructure
  • Commercial
  • Construction
    • Heavy Equipment Insurance
    • Machinery Breakdown Insurance
    • Construction Insurance
  • InsurTech
  • Insurance Update
    • Bedah Polis
    • Bedah Klausul
    • Ulas Berita
    • Tips & Tricks
  • Legal Liability
    • Asuransi Liability
  • Life & Health
  • Indonesia
    • 中文

Trending →

Under Pressure from Environmental Regulations, Here’s Why Environmental Liability Insurance Is Now Mandatory

By Omar Farhan
Thursday July 31st, 2025

Deadly Tragedy on Indian Roads! Pilgrim Bus Crashes into Gas Truck, 18 Burned to Death: And 7 Shocking Recent Accidents

By Intan Aulia
Wednesday July 30th, 2025

Car Falls into the Sea: Real-Life Examples, Protection Tips, and the Right Insurance Solutions

By Hikmah Herdiana
Tuesday July 29th, 2025

Investment Risks Faced by Chinese Companies in Indonesia and the Role of Insurance as Mitigation

By Intan Aulia
Monday July 28th, 2025

Chinese Companies Enter Indonesian Infrastructure Projects: What Risks Must Be Insured?

By Hikmah Herdiana
Saturday July 26th, 2025
Follow US
©Copyright by Liga Asuransi - PT. L&G Insurance Broker
LigaAsuransi > Blog > General Insurance > InsurTech > Where is the Metaverse in the world of Life Insurance?
InsurTech

Where is the Metaverse in the world of Life Insurance?

Mhd. Taufik Arifin ANZIIF (Snr. Assoc) CIIB
By Mhd. Taufik Arifin ANZIIF (Snr. Assoc) CIIB
Published Friday February 18th, 2022
246 Views
0 Min Read
Share
SHARE

Liga Asuransi – Great readership, how are you? As you probably already know that business people around the world are currently busy learning and exploring Metaverse technology.

This was triggered when Mark Zuckerberg, the founder of Facebook, in October 2021 for the first time announced the change of his company name Facebook to METAVERSE. What is it?

According to Wikipedia, Metaverse is a network of 3D virtual worlds focused on social connections. In futurism and science fiction, it is often described as a hypothetical iteration of the Internet as a single universal virtual world facilitated by the use of virtual headsets and augmented reality.

Several types of businesses ranging from entertainment, education, industry, health and including the financial industry including insurance began to see opportunities to use Metaverse for their business development.

In order not to be left behind, this time we will make two articles about the Metaverse. First, about Metaverse for General Insurance or general insurance. Second, about the Metaverse in terms of life insurance.

As we already know and witness that technological change will happen and will definitely happen. The problem can or can but the problem when.

For those who are quick and quick to take advantage of that technology, they are winners.

We have extracted this article from the online media https://www.businessleader.co.uk which was just uploaded a few days ago.

We hope that this article is useful for you. If you are interested, please share it with your friends so that they also understand like you.

Metaverse, future, digital technology concept.

This article is based on an interview with Josh Hart, Chief Product and Technology Officer at insurtech company YuLife. Which provides an interesting insight into the world of insurtech and the role the metaverse has to play in the insurance industry.

What role should the metaverse play in the Insurtech world?

Metaverse has great potential to play a transformative role in increasing the attractiveness of insurance products. For example, the YuLife app is built like a game and is centered around ‘Yuniverse’, a virtual world. a world where users can ‘level up’ through quests, duels and challenges to access new zones and increase their YuCoin count.

In this way, the idea of ​​a virtual world where each user has an avatar and competes with friends and colleagues really helps make YuLife products attractive, especially to younger users and millennials.

At the same time, it is important to remember that this success hinges on the interconnectedness of the digital and physical worlds. Using the metaverse to inspire positive behavior change needs to have some impact on people’s real-life well-being to be relevant.

What other potential applications are there for the Metaverse?

The metaverse can enrich every part of our lives, but the focus should be on improving our well-being in the real world, rather than just an escape. In the era of Web 3.0, the metaverse is set to become an essential part of the new decentralized online experience – changing our lives in the same way that social media has done over the past few decades.

Outside of the financial sector, the metaverse can impact any type of business. In the retail world, virtual reality-based overlays can significantly enhance a shopper’s in-store experience, providing customers with real-time information about the products they are viewing.

Individuals can now get augmented reality NFTs, and YuLife recently saw through Nike’s acquisition of RTFKT that sportswear and apparel is one of the next frontiers for highly personalized products.

Has technology always played an important role in the world of insurance?

Within the insurance industry, technology and innovation are still new trends, which is why there is a lot of stagnation across sectors.

When YuLife was founded, it focused on life insurance knowing that after centuries of no innovation there was nothing significant in the life insurance market.

For many years, life insurance provided only death coverage; YuLife wants life insurance to focus on life, and leveraging the latest technologies – AI, app development, and metaverse – is sure to be key in realizing that goal.

It’s no coincidence that insurtech startups are one of the hottest verticals in tech today.

The need to innovate is pervasive and the demand for insurance is high, and technology can support a variety of new functions that insurers see a need to adopt, such as dynamic underwriting policies based on intelligently processed customer data.

The use of technology in insurance is on the rise and YuLife hopes to see that trend continue for years to come.

What are the current trends in the Insurtech industry?

YuLife is currently witnessing a significant push towards smarter underwriting. Today’s insurance companies can collect large amounts of data about policyholders and their habits and behavior, which can be leveraged to gain greater insight into individual/group risk on an ongoing basis.

Leveraging this large data set will allow insurers to better negotiate with reinsurers and reflect risk more accurately. This new, dynamic and intelligent form of underwriting has been discussed for years, but its application is now finally paying off.

A customer-centric user experience is another key focus, and has been for a number of years.

Incumbents are increasingly investing in developing SaaS products to match the pace set by insurtech startups. The role of insurtechs in their relationship with incumbents is not about ignoring what is already there, but making use of it.

More and more companies will begin to leverage existing legacy insurance companies to a greater extent, as respect for their ability to handle claims and manage large balance sheets from an actuarial perspective is very strong. The challenge is about how to change the role of existing players rather than directly replacing them.

Future trends like What do you expect to see in the life insurance industry?

First, YuLife hopes to see more reinsurers look to new forms of data to a greater extent when trying to model their liability. The storage potential of this data set is limitless and the data can be used to develop better, more attractive and more personalized products.

Second, we’ll look at stronger incentives to see individuals reduce their own risk, proactively take steps to reduce their risk to their insurer (and also benefit from a healthier lifestyle as part of the process).

Third, engaging digital experiences will become the norm. Major insurance companies are rebuilding their offerings and this will lead to major improvements in digital accessibility. Think of the differences in how street banks functioned before and after it became the norm to offer banking apps. Once it was hoped that functions could be performed on the swipe of a smartphone screen, there would be no turning back.

Finally, more and more insurance products will target users directly, rather than targeting brokers. It is very important to secure user purchases and, like all financial products, insurance company offers must engage policyholders on a daily basis to be considered desirable.

This article is brought to you by L&G Insurance Broker, a Smart Insurance Broker.

Sources: https://www.businessleader.co.uk/how-can-insurance-find-its-place-in-the-metaverse/

 

—
Looking for Insurance Products? Don’t Waste Your Time and Contact Us Right Now

L&G HOTLINE 24 HOURS: 0811-8507-773 (Call – Whatsapp – SMS)

website: lngrisk.co.id

E-mail: customer.support@lngrisk.co.id

—

TAGGED:asuransi jiwametaverse

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp LinkedIn Threads Copy Link Print
ByMhd. Taufik Arifin ANZIIF (Snr. Assoc) CIIB
Follow:
Taufik Arifin has more than 30 years of experience in the insurance brokerage industry. He holds the Australian New Zealand Insurance and Financial Institution (ANZIIF snr.assoc) CIP and Certified Indonesian Insurance Broker (CIIB) certificates. Please follow the author's Instagram to get to know him better: @taufik.arifin.31
Previous Article 7 Important Questions about Heavy Equipment Insurance
Next Article How will the metaverse change General Insurance?
- Advertisement -
Ad image

Latest News

Under Pressure from Environmental Regulations, Here’s Why Environmental Liability Insurance Is Now Mandatory
Liability Insurance
Thursday July 31st, 2025
88 Views
Deadly Tragedy on Indian Roads! Pilgrim Bus Crashes into Gas Truck, 18 Burned to Death: And 7 Shocking Recent Accidents
Berita Kecelakaan
Wednesday July 30th, 2025
48 Views
Car Falls into the Sea: Real-Life Examples, Protection Tips, and the Right Insurance Solutions
Asuransi Mobil
Tuesday July 29th, 2025
58 Views
Investment Risks Faced by Chinese Companies in Indonesia and the Role of Insurance as Mitigation
Bisnis
Monday July 28th, 2025
61 Views
Chinese Companies Enter Indonesian Infrastructure Projects: What Risks Must Be Insured?
Bisnis
Friday July 25th, 2025
83 Views
Cyberattacks Are on the Rise! Here’s Why Cyber Insurance Is Important for Companies
Asuransi Cyber
Thursday July 24th, 2025
72 Views
Insurance Compliance for Chinese Companies in Indonesia: Avoiding Legal and Financial Risks
Bisnis
Wednesday July 23rd, 2025
75 Views
Water Supply Project Tenders: Understand the Risks and Protect Yourself with the Help of an Insurance Broker
Asuransi Konstruksi
Tuesday July 22nd, 2025
87 Views
Uncovering the Challenges Behind the Insurance Claims Process! Turns Out This Is What Often Hinders Fast Payments to Customers: And 7 of the Most Updated and Comprehensive Insurance News
Ulas Berita
Monday July 21st, 2025
118 Views
Foreign Investment on the Rise! The Importance of Project Protection for Chinese Investors in Indonesia
Bisnis
Friday July 18th, 2025
100 Views

Related ↷

How DeepSeek AI is Reshaping Finance and Tech – Insurance Strategies for Investors

Friday January 31st, 2025

Tingkat Kesadaran Dinilai Masih Rendah, Pentingkah Asuransi Jiwa Bagi Anda?

Friday August 9th, 2024

Lebih Dekat Dengan Pelanggan Melalui Digital

Wednesday April 27th, 2022

Hal-hal yang perlu dipertimbangkan oleh Broker Asuransi sebelum membeli Insurance Broking System

Thursday February 11th, 2021
  • Advertise with us
  • Newsletters
  • Complaint
  • Deal
Stay tuned for a blend of captivating content that not only informs but also inspires you to navigate the ever-evolving landscape of technology, marketing, and market trends!
LigaAsuransi
  • Asuransi Marine Cargo
  • Asuransi Konstruksi
  • Broker Asuransi
  • InsurTech
  • Property

©Copyright 2025 by Liga Asuransi – PT. L&G Insurance Broker