Last month really began to show us the interest and desire that Virtual Reality (VR) and Augmented Reality (AR) is starting to create in the market – but the big challenge is not necessarily the technology that drives everything, but balancing the cost with the business case and return. So what does the future hold for this technology in the insurance and financial services markets?
Over the last 18 months, we have had numerous conversations with clients about how the technology that we see so much of in our daily lives, but often with a very B2C/FMCG focus, can be applied to the B2B intermediated world. Many clients began to take gentle exploratory steps – often using VR as a method of engagement at events and exhibitions, with the intention of merely using it to deliver something new with a ‘wow’ factor. So far this year, we have a seen a much greater response to our suggestions and ideas about transferring the technology to make a much more informative engagement throughout the business – still delivering that wow effect, but something that supports a more strategic approach and delivers value as well as engagement. A trip to IBC in Amsterdam really showed how the market is looking to develop in creating and delivering a combination of content across a variety of platforms.
We have taken a number of clients during the last couple of months to ‘The Bunker’ – where we have shown them a range of technology and applications that really do make that transition from the gamification of the technology into something that shares value and insight. An earlier blog from our Account Director Sarah Bean clearly showed that decision makers and influencers are looking to gain more information through the visual medium, and we certainly see that trend increasing as Millennials become much more of the influencing and decision-making community. We look to develop flexible platforms for content across digital and AR, as well as creating virtual platforms that can host and share content and help clients, staff and the wider market engage. Whether that is virtual realities, 3D printing, augmented reality or the very latest combination of technology and AR platforms, there are many options to suit varying budgets.
The challenge is to avoid it just being the ‘emperors new clothes’ and following the trend to do something – otherwise it just becomes a very expensive ‘toy’ – and like most toys, the new and better one comes along soon!
It you are looking to get some answers as to how this type of technology might work for you, how it can avoid just being a ‘toy’ or perhaps you’d just like to see some of the very latest examples of what is out there, just get in touch and we’d be delighted to show you The Bunker.
Martin Wiggins, Managing Director
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