IMA launches metaverse’s first insurance research facility

IMA Financial Group has launched IMA Web3Labs, the metaverse’s first insurance and risk management research and development facility.

Based in North America, IMA Financial Group, is an integrated financial services company focused on protecting the assets of its widely varied client base through insurance and wealth management solutions.

Funded by IMA’s investment arm, IMA Investments, Web3Labs sets new industry expectations for exploring, testing and bringing to market risk and insurance strategies specific to the metaverse.

The facility will be located in Decentraland, a virtual world based on blockchain technology.

Paul Washington, executive vice president of IMA Financial Group and head of IMA Investments, said, “Web3Labs allows us to explore the risks associated with digital and meta assets from within the metaverse, so we can better prepare our clients to manage such risks.

“Our investment in IMA Web3Labs will also enable IMA to explore the infinite applications of blockchain technology to best understand how it might fundamentally shift the landscape of the $1trn commercial insurance industry.”

Copyright © 2022 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.