VR Life
Context
By 2030 the global internet penetration rate will have reached its highest point, and so does the VR adoption rate. While the Americas and Europe are early adopters of VR, VR companies were able to decrease further the cost of VR headsets, as well as the widespread free distribution programs. Africa and the Asia Pacific countries were able to take a leap and grow with VR rapidly.
However, as most of the VR devices are from Meta, the leading company in the field that takes a 90% share of the market, there are many concerns regarding user privacy as well as potential negative effects from a social media platform that takes over the VR market. Does the information that we and our kids are seeing in the VR world legit? We don’t know yet.
Problem
As we may have already noticed, people who reside in highly developed countries could secure their space in the VR world earlier than those from developing countries and stay privileged.
We also noticed a new form of colonization during the process of adopting new technologies. As developed countries from the Americas and Europe drop their technologies to less developed countries, they inevitably gain extra information from people with or without their consent. This includes private personal information as well as public information that wasn’t supposed to be available to developed countries if not thanks to technology.
The world didn’t change at all, even though we moved to another virtual space. We need to take actions to deal with the unfairness.
Solution
We introduce VR Life as our solution. By purchasing long-term insurance, people who live in less developed countries can secure their spots in the VR world. For example, one may have to wait for their country to gain enough internet connectivity and coverage for VR, which would take a long time. However, if they purchase long-term insurance through us, we will ensure to offer them a space in VR within X years, depending on the result of our smart evaluation system. We will provide dedicated support for hardware and software, ensuring our customer can enjoy their new experience in the VR world, just like other people do in developed countries.
For elders who would like their offspring to join the VR world early and hopefully change their lives, we also offer a youth program that helps people from less developed countries to get into the VR world earlier than they are supposed to.
Our smart system will evaluate each candidate based on their age, health condition, country of residency, and multiple other factors. We will adjust the premium for each candidate to make sure the plan is affordable and offer unique benefits that tailor to their needs.