The Accenture Business Trends Survey found that companies with a strategy around the metaverse believe that in the next three years, 4.2% of their revenues will come from new products, services or business models related to the metaverse. This represents a value of $1 trillion globally. Accenture sees the metaverse as a continuum of converging technologies, such as AI, AR/VR, blockchain, digital twins, IoT, cloud, digital currencies, NFTs, and more. For life insurers, these technologies could impact how they protect and underwrite risk, leading to a new generation of insurance technologies. Insurers are updating their core insurance processing systems and using APIs to quickly enable added front- and back-office capabilities from third-party providers.
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