Insurance Fraud Detection Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Component (Solution, Services); Enterprise Size (Large Enterprises, SMEs); Deployment Mode (Cloud, On-premises); Application (Identity Theft, Claims Fraud, Payment and Billing Fraud, Money Laundering) and Geography
Report Code: TIPRE00006059 No. of Pages: 150 Category: Technology, Media and Telecommunications Status: Upcoming
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MARKET INTRODUCTION
Insurance fraud has grown as a challenging problem for insurance companies. Newer data analytics has led to the development of fraud review and detection tools in policy renewals, underwriting, and periodic checks. IT plays an important role today in combating fraud driven by the growing trend of deploying automated processes. Machine learning and integration of artificial intelligence is revolutionizing the insurance fraud detection market.
MARKET DYNAMICS
The insurance fraud detection market is anticipated to grow in the forecast period on account of rising instances of insurance fraud and the need to effectively combat them. Also, the growing adoption of advanced analytics techniques for managing numerous identities is likely to augment the market growth. However, lack of adoption of these solutions among insurance institutions may hamper the growth of the insurance fraud detection market. On the other hand, artificial intelligence and the internet of things would showcase significant opportunities for market players in the coming years.
MARKET SCOPE
The "Global Insurance Fraud Detection Market Analysis to 2028" is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of insurance fraud detection market with detailed market segmentation by component, enterprise size, deployment mode, application, and geography. The global insurance fraud detection market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading insurance fraud detection market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global insurance fraud detection market is segmented on the basis of component, enterprise size, deployment mode, and application. By component, the market is segmented as solution and services. By solution, the market is further sub-segmented as fraud analytics, authentication, governance, risk, and compliance, and others. On the other hand, the professional services and managed services. Based on enterprise size, the market is segmented as large enterprises and SMEs. On the basis of the deployment mode, the market is segmented as cloud and on-premises. The market on the basis of the application is classified as identity theft, claims fraud, payment and billing fraud, and money laundering.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global insurance fraud detection market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The insurance fraud detection market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting insurance fraud detection market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the insurance fraud detection market in these regions.
The reports cover key developments in the insurance fraud detection market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from insurance fraud detection market are anticipated to lucrative growth opportunities in the future with the rising demand for insurance fraud detection in the global market. Below mentioned is the list of few companies engaged in the insurance fraud detection market.
The report also includes the profiles of key insurance fraud detection companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
Insurance fraud has grown as a challenging problem for insurance companies. Newer data analytics has led to the development of fraud review and detection tools in policy renewals, underwriting, and periodic checks. IT plays an important role today in combating fraud driven by the growing trend of deploying automated processes. Machine learning and integration of artificial intelligence is revolutionizing the insurance fraud detection market.
MARKET DYNAMICS
The insurance fraud detection market is anticipated to grow in the forecast period on account of rising instances of insurance fraud and the need to effectively combat them. Also, the growing adoption of advanced analytics techniques for managing numerous identities is likely to augment the market growth. However, lack of adoption of these solutions among insurance institutions may hamper the growth of the insurance fraud detection market. On the other hand, artificial intelligence and the internet of things would showcase significant opportunities for market players in the coming years.
MARKET SCOPE
The "Global Insurance Fraud Detection Market Analysis to 2028" is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of insurance fraud detection market with detailed market segmentation by component, enterprise size, deployment mode, application, and geography. The global insurance fraud detection market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading insurance fraud detection market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global insurance fraud detection market is segmented on the basis of component, enterprise size, deployment mode, and application. By component, the market is segmented as solution and services. By solution, the market is further sub-segmented as fraud analytics, authentication, governance, risk, and compliance, and others. On the other hand, the professional services and managed services. Based on enterprise size, the market is segmented as large enterprises and SMEs. On the basis of the deployment mode, the market is segmented as cloud and on-premises. The market on the basis of the application is classified as identity theft, claims fraud, payment and billing fraud, and money laundering.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global insurance fraud detection market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The insurance fraud detection market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting insurance fraud detection market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the insurance fraud detection market in these regions.
The reports cover key developments in the insurance fraud detection market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from insurance fraud detection market are anticipated to lucrative growth opportunities in the future with the rising demand for insurance fraud detection in the global market. Below mentioned is the list of few companies engaged in the insurance fraud detection market.
The report also includes the profiles of key insurance fraud detection companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- BAE Systems plc
- Experian Information Solutions, Inc.
- Fair Isaac Corporation (FICO)
- Fiserv, Inc.
- FRISS
- IBM Corporation
- iovation Inc. (TransUnion)
- LexisNexis (RELX)
- SAP SE
- SAS Institute Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.