The Impact of the Metaverse on the South African Insurance Industry
| dc.contributor.author | Mia, Rashad | |
| dc.contributor.supervisor | Quaye, Emmanuel | |
| dc.date.accessioned | 2024-09-06T12:08:16Z | |
| dc.date.available | 2024-09-06T12:08:16Z | |
| dc.date.issued | 2023 | |
| dc.description | A research report submitted in partial fulfillment of the requirements for the degree of Master of Business Administration to the Faculty of Commerce, Law and Management, Wits Business School, University of the Witwatersrand, Johannesburg, 2023 | |
| dc.description.abstract | The internet is evolving, where virtual reality and artificial intelligence converge to create a more immersive online experience. This revolutionised digital space will allow users to interact and transact virtually with more users more efficiently. This will impact the way we live, work, and socialise. Despite multiple articles discussing the metaverse and its relational impact on the insurance industry, this research paper aims to understand the metaverse from different South African perspectives, and through virtual one on one interviews; participants were interviewed to unpack further potential risks and benefits of the metaverse on the South African consumer. This also led to perspectives on the potential insurance landscape within virtual worlds and the type of products and services that could stem from. The thematic analysis of the insurance landscape in the metaverse provided insights into emerging trends and opportunities in the space that covered themes such as virtual property insurance, cyber insurance, digital identity, reputational insurance, and personalised insurance products that could be developed to tailor individual needs. In terms of risks and benefits, the data and information highlighted themes that touched on addiction, privacy and security, social isolation as well as financial risks. On the other hand, the benefits mentioned were enhanced social experiences, access to new experiences as well as professional opportunities. The research of this paper intends to provide a localised viewpoint of insurance in South Africa and how such a highly regulated industry will pivot, if at all, towards the inevitability of the metaverse. | |
| dc.description.submitter | MM2024 | |
| dc.faculty | Faculty of Commerce, Law and Management | |
| dc.identifier.citation | Mia, Rashad. (2023). The Impact of the Metaverse on the South African Insurance Industry [Master’s dissertation, University of the Witwatersrand, Johannesburg]. WireDSpace.https://hdl.handle.net/10539/40621 | |
| dc.identifier.uri | https://hdl.handle.net/10539/40621 | |
| dc.language.iso | en | |
| dc.publisher | University of the Witwatersrand, Johannesburg | |
| dc.rights | © 2023 University of the Witwatersrand, Johannesburg. All rights reserved. The copyright in this work vests in the University of the Witwatersrand, Johannesburg. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of University of the Witwatersrand, Johannesburg. | |
| dc.rights.holder | University of the Witwatersrand, Johannesburg | |
| dc.school | WITS Business School | |
| dc.subject | Metaverse | |
| dc.subject | Insurance | |
| dc.subject | Virtual Reality | |
| dc.subject | Virtual Reality | |
| dc.subject | Blockchain | |
| dc.subject | Inside Out Model | |
| dc.subject | Outside in Model | |
| dc.subject | Regulation | |
| dc.subject | UCTD | |
| dc.subject.other | SDG-8: Decent work and economic growth | |
| dc.title | The Impact of the Metaverse on the South African Insurance Industry | |
| dc.type | Dissertation |