Podcast

Risk in Context Podcast: Understanding the metaverse and its potential risks

In this episode of Marsh’s Risk in Context podcast, Trevor Smith, talks to Ben Hoster and Jaymin Kim about metaverse, the potential business opportunities, and the risks that organizations should be aware of as they consider investing in this new frontier.

Cyber security and global communication concept. Analysis of information. Technology data binary code network conveying connectivity, Data and information protection protocol.

As connectivity continues to improve and already pervasive technology becomes faster and more efficient, companies are exploring the opportunities that exist within the metaverse. It’s a seemingly limitless concept that is frequently referenced, but its boundaries are not always fully understood.

In this episode of Marsh’s Risk in Context podcast, 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. They will explore what the metaverse is, the potential business opportunities, and the risks that organizations should be aware of as they consider investing in this new frontier.

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Key takeaways

Organizations are exploring opportunities in the metaverse.

From creating the more advanced technology that the metaverse needs to expand, to refining digital currency concepts, to focusing on how users experience the space, companies across multiple industries are exploring ways to deliver better, faster, and more convenient and engaging experiences to the end user.

Physical world risks may be extended to the metaverse.

As individuals and businesses expand their use of immersive digital technologies, malicious actors will have more entry points for cyberattacks and data breaches. Counterfeit risks common across many physical goods industries may also present themselves in the metaverse.

Metaverse-related technologies will require proactive risk identification and mitigation.

As organizations leverage new technologies, they need to look ahead at the potential risks and liabilities, including when technology challenges could lead to physical and system failures.

About our speakers

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Trevor Smith

Senior Vice President, Casualty

  • United States

Trevor Smith leads Casualty for Marsh’s Sharing Economy & Mobility Group. His team is responsible for working with some of the firm’s most innovative clients and insurers to invent new forms of insurance, or remix existing ones, to protect the businesses of the future.

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Ben Hoster

Director, Transformative Technologies, Marsh McLennan Advantage

Ben Hoster leads the transformative technologies agenda for the Marsh McLennan Advantage Insights team. Based in Austin, his role includes exploring technology-driven seismic shifts across industries and the resulting business imperatives for executives, policymakers, risk leaders, and, more broadly, societies across the globe.

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Jaymin Kim

Director, Commercial Strategy, Technology, Cyber, Digital, Marsh McLennan Advantage

Jaymin Kim drives global commercial strategy with a focus on technology, cyber, and digital for the Marsh McLennan Advantage team. In her role, she advises companies on the emerging metaverse and related fields, including NFTs, blockchain technology, and decision-making structures.

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