What will Axa do in the Metaverse?

The insurer announced on Friday the acquisition of land in the metaverse in order to become familiar with this new virtual world, to gauge business opportunities there and to cultivate a “tech” image for future recruitment.

“What is important for us is to learn, to understand,” Patrick Cohen, CEO of Axa France, told AFP.

The metaverse, contraction of meta and universe, is a network of interconnected virtual spaces accessible through augmented or virtual reality glasses (AR or VR) and sometimes described as the future of the internet.

Axa will study the possibilities of opening a virtual agency or setting up new services – prevention or assistance for example – dedicated to the virtual world.

“A new world that is opening up” goes hand in hand with “new risks”, notes the leader.

The previous Second Life

The operation also responds to an image issue to soon recruit 500 “data and tech” employees, profiles that large groups are snapping up. The company presents itself as the first player among French banks and insurance companies to set up in a virtual world.

She settles via the video game company The Sandbox and will be accompanied by Excelsior and Metaverse Studio for the development of her plot, of which she did not wish to reveal the purchase price.

The interest of major brands for the metaverse has been increasingly marked since Facebook announced at the end of October that it wanted to make this space its new business project, renaming its parent company “Meta” in passing.

In the 2000s, Axa established itself on Second Life, the precursor site of the metaverse, before withdrawing from it.

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