Marsh’s Risk in Context podcast series helps listeners better understand key risks, build more effective insurance programs, and think creatively about risk and resilience.

Faster technology and increased connectivity are making the metaverse more accessible for both companies and individuals. Trevor Smith, senior vice president and casualty leader of Marsh’s Sharing Economy and Mobility Group, talks to Ben Hoster, who leads the transformative technologies agenda for the Marsh McLennan Advantage Insights team, and Jaymin Kim, director of commercial strategy for technology, cyber, and digital at Marsh McLennan Advantage, about the new opportunities that the metaverse promises and also the risks that organizations need to understand and prepare for.

On the emergence of the metaverse:

“The internet has introduced an ever-growing set of opportunities and also new risks, as companies and individuals connect in new ways virtually. And now that connectivity we’ve all become accustomed to is taking a new leap with the emergence of the metaverse.” — Trevor Smith

On the different experiences the metaverse delivers:

“It’s a very different mechanism than just picking your phone out of your pocket and scrolling through a few news stories. This really pulls you into that world, and it changes the experience very much from what we live today.” — Ben Hoster

On metaverse-related risks: 

“We’re in very nascent phases of seeing the emergence of new kinds of metaverse-related technologies and use cases where they can benefit us. I think with time, we’re going to have to think very concretely and very carefully about how we not only leverage the potential of these technologies to do good, but also ensure that we’re proactively thinking through and mitigating against potential risks and liabilities that will necessarily come with the new opportunities that these technologies present to us.” — Jaymin Kim