1、Why its time to pay attention will web3 reinvent insurance?Reinventing Insurance seriesWEB3 introductionWhat is the Web3 economy?Its time to pay attention The Web3 opportunity for insurersWeb3 primer:five key questionsConclusion371611346Table of contents Oliver Wyman3While there is some hype surroun

2、ding digital assets,decentralized finance,and Web3,there is also substance that has the potential to fundamentally transform parts of our modern financial system.We believe its time for insurers to pay attention.40 million people in the US reported investing,trading or using cryptocurrencies in 2021

3、(as compared to 5 million in 2015).Venture capitalists are increasing their investments in crypto infrastructure and Web3 companies.The US is developing a comprehensive policy framework.An increasing number of insurers are entering the space,and new decentralized autonomous organizations(DAOs)are be

4、ing founded every day.The industry refers to Web3 as a new version of the Internet that is inspired by blockchain technology,often with the purpose of enabling decentralized processes and decision-making.We think this definition is too narrow and prefer to use the concept of the Web3 economy,which r

5、epresents the broader financial ecosystem associated with Web3.There are many scenarios for how the Web3 economy will evolve,especially with reference to data in this rapidly changing market.This paper seeks to go beyond the“headline of the day,”or prospects for any individual cryptocurrency or digi

6、tal asset,and explores the broader Web3 opportunity for insurers.Why its time to pay attentionWEB340 million people in the US reported investing,trading or using cryptocurrencies in 2021 (as compared to 5 million in 2015)Oliver Wyman4We see two main dimensions of the Web3 opportunity for insurers:Fi