The rise of the metaverse will generate an insurance market worth more than $US20 billion in gross written premium by 2030, according to Aon.

The global broker says insurers are venturing into the digital landscape, covering virtual assets, safeguarding intellectual property and protecting the wellbeing of users and avatars. 

The metaverse has been described as “the web in 3D”, providing an immersive digital environment for consumers and businesses, and enabling people to interact remotely.

Aon says the current range of insurance products within the metaverse “is limited, with non-fungible token insurance taking centre stage”.

However, as digital economic activity burgeons, insurers “will find themselves presented with opportunities to cover virtual assets, fortify against cyberattacks and even provide liability insurance”.

See Analysis.