Can the Metaverse Transform the Insurance Industry?

Written at Apr 24, 2024 1:55:21 PM by Iryna Lyulchuk

Attending Insurtech Insights for the second time was a great experience. Once again, it was like being transported from the regular morning routine, into this vibrant nightclub-like atmosphere, with music, blue lights and smoke everywhere.  

One of the best parts of the event that I enjoyed was our stand. We set up a fun buzz wire game that attracted a lot of people. The game consisted of completing our logo's shape in the quickest time without touching the wire and setting off the buzz. It was great to see everyone having fun and getting involved, trying their hand at the challenge. But the game wasn't just about fun; it was about bringing people together, initiating conversations, and fostering new connections.

The AI-focused sessions were once again a highlight of the event, drawing a lot of interest from the attendees. These sessions provided valuable insights into the potential applications of AI in insurance, sparking discussions about the opportunities and challenges that lie ahead. But as emerging technologies continue to revolutionize the insurance industry, it will be interesting to see how such a traditional industry will adapt and evolve in response.

Additionally, I was pleasantly surprised by a topic that initially left me intrigued — the Metaverse. While I had always associated it with gaming and entertainment, it was interesting to explore its potential applications in the insurance industry. Learning about how the metaverse can play a significant role in transforming various aspects of insurance was both insightful and thought-provoking. It underscored the need for industries to embrace innovation and adapt to emerging technologies, even those seemingly outside of their known territory.

Among the different sessions, one that I also particularly enjoyed was 'Entrepreneurship & Resilience: Exploring the Industry Through the Lens of a Founder and CEO.' Hearing from founders on the importance of wellbeing amidst the pressures of building a company, as well as the significance of recognizing when it's time to bring on a co-founder to provide a different perspective was very interesting. One speaker from this session, was Sammy Rubin, the Founder and CEO of Yulife, an app that I personally use. And I really liked hearing directly from him about his journey behind the app's creation and how he navigated the challenges of entrepreneurship.

Despite the long two days, it was rewarding to attend some of the session, gaining insights from the industry experts, making new connections and spending time with the team. And we even had the time to close the event with drinks on the last day. Although it left me with quite THE hangover, it was worth it for the fun moments.

Overall, InsurTech Insights Europe 2024 was a valuable experience for learning, networking, and collaboration, and I'm looking forward to seeing how this type of discussions and gatherings will shape the future of insurance industry.

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Iryna Lyulchuk