The Metaverse is a collective virtual shared space, created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the Internet. Although the Metaverse is still evolving, companies and entrepreneurs at the bleeding edge of technology are getting very excited about it. Move beyond the CGI and flights of fancy and increasingly people are being wrapped in a cloak of internet linked technologies – health and fitness monitors, personal assistants, internet enabled domestic goods, smart TVs and smart watches. The plumbing for the metaverse is rapidly being installed, but how will its users be protected? What challenges does the insurance industry face in mitigating risks for its digital denizens? In this pioneering piece of research, we will explore the scope and scale of the challenge facing the insurance sector as the Metaverse gradually coalesces. What are the risks and how can they be modelled and quantified? What products and services are required? And how can the UK insurance service sector gain first mover advantage in this new space?
Professor Michael Mainelli FCCA FCSI(Hon) FBCS, Executive Chairman, Z/Yen Group, is a qualified accountant, securities professional, computer specialist, and management consultant, educated at Harvard University and Trinity College Dublin. Michael gained his PhD at the London School of Economics where he was also a Visiting Professor of Innovation & IT. Michael is Emeritus Professor, Fellow, & Trustee at Gresham College where he created the London Finance initiative asking “when would we know our financial system is working?” His third book, The Price Of Fish: A New Approach To Wicked Economics And Better Decisions, won the Independent Publisher Book Awards Finance, Investment & Economics Gold Prize. Michael is an Alderman and Sheriff of the City of London 2019-2021.
Simon Mills began his career by working as a field botanist on Cloud and Elfin rainforest in Northern Costa Rica. His subsequent career encompassed minerals and highways planning, environmental management systems and sustainable development. In 2000 he became environmental co-ordinator for the City of London, where he established the National Sustainable City Awards and worked on carbon trading, socially responsible investment and climate risk. Following a secondment to Defra in 2010, where he was responsible for establishing the Local and Regional Adaptation Partnership for England, he returned to the City of London as Corporate Policy Manager and Head of Sustainable Development. Since joining as a Z/Yen, Associate, Simon has worked on mutual distributed ledgers, standards, sustainable business, and policy performance bonds.
Thursday, 20 January 2022
11:00 - 11:45 GMT
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