Insurance Giant Tokio Marine to Offer Its Services in the Metaverse
Japanese insurance giant Tokio Marine is extending its services and operations into the metaverse. The largest property and casualty insurance company in Japan has more than 39,000 employees across the globe and plans to offer its users the ability to review and purchase insurance products on a metaverse platform, using employees as clerks in the virtual world.
Insurance Services in the Metaverse
Gaming,
social, and technology companies were the first sectors to make it into the
metaverse. Companies from other sectors are now entering the available
metaverse platforms. The biggest property and casualty insurance group in
Japan, Tokio Marine, has announced extending the offering of insurance services
in the metaverse. In January, the company plans to offer insurance and other
kinds of policies in the digital world, employing real clerks represented as
avatars.
Interested
consumers can interact with the clerks and inquire about the full details of
the products on offer, send the completed forms, and conclude contracts in the
metaverse, reports the Yomiuri
Shimbun.
The
company will host the services on Virtual Akiba World, a metaverse platform
that has been built as a digital representation of the famous station and town
of Akihabara in Japan. Speaking about the extension of the services to the
virtual world, the company stated:
"By
using the metaverse, we will provide a new customer experience that reduces the
psychological burden of insurance consultations and enables casual insurance
consultations and considerations."
The
company has planned to run a course with a flying car in the metaverse to
determine the preferential driving style of the consumer while familiarizing
itself with the advantages that insurance could offer to specific drivers.
Japanese Companies in the Metaverse
Asian
and Japanese companies have largely pioneered the metaverse, with several key
investment projects for the development of virtual technology in the new
sector. One of the largest banks in the country, MUFG, has already announced
that it will start offering banking services in the metaverse by 2023.
NTT
Docomo, a leading Japanese telecom carrier, announced the launch of its
metaverse division with an investment of USD 412 million in October. Since
November, it has had over 200 employees focusing on the new sector.
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