Swiss Challenge

Prepared by:-
Team WeChallengers
Sai Ranjani
Satabdi
Sourav Kumar Nanda
Weschool, mumbai
Metaverse and its implications on the Insurance industry

Emerging opportunities:
1. Communicate with users through Avatars- eliminate Sales team physically, also doubles up as virtual Relationship Assistant to assist with all
documentation and FAQs
2. Economy of Metaverse - built on virtual currencies- NFTs and block chain based digital/crypto currencies.
3. Immersive experience to customers- Explain need of insurance
4. Asset and risk management for new asset classes (digital) and investment opportunities.
5. Damage investigations using Digital twins

Use cases:
1. when scheduling a medical appointment in metaverse- patient can log-in using crypton wallet and insurer can have temporary access-
helps with new value based custom offerings
2. customers can be rewarded with NFTs - for adopting healthier lifestyle(regular excercises, walking marathon running, etc)
3. Digital therapeutics- cutting-edge clinical trials and faster drug development
Meta hospitals- built for having wider tieups across locations

Product Plan-
In product ransomware attacks in cryptocurrencies
2 layers of public-private safe encryption key
NFT valuations
Claim settlement (faster):-all TXN is verified by multiple gateways. single hour needed
Theft of digital asset we will be custodian like the audio, media, spreadsheets
It will cover both cold and hot wallets.
We can apply for the private key within 1 hr