Insurance Fraud Detection Market by Component (Solutions (Fraud Analytics, Authentication, and GRC), Service) Application Area (Claims Fraud, Identity Theft, Payment and Billing Fraud, and Money Laundering), Deployment Mode, Organization Size, and Region - Global Forecast to 2024
The exponential rise in the sophistication of cyber attacks insurance sector and substantial monetary losses due to these attacks will drive the overall insurance fraud detection market
The global insurance fraud detection market size is expected to grow from USD 2.5 billion in 2019 to USD 7.9 billion by 2024, at a compound annual growth rate (CAGR) of 25.8% during the forecast period. Various factors, such as exponential rise in the sophistication level of cyber attacks and huge monetary losses due to these attacks in the insurance sector, are expected to drive the market. However, lack of awareness among organizations about the importance of fraud detection solutions and improper implementation coupled with the lack of integration of fraud detection solutions across organization networks may restrain the market growth.
Solution segment to hold a larger market size during the forecast period
The solution segment is expected to hold a larger market size in the fraud detection market during the forecast period. Fraud detection vendors help insurance organizations to tackle the security challenges and threats they pose due to the increased adoption of digital technologies such as IoT and BYOD in their organizations to enhance the customer experience. The solutions are classified into fraud analytics, authentication, and governance, risk, & compliance (GRC) solutions. Fraud analytics is a discipline which involves a set of analytical techniques that analyze enterprises’ systems and database to identify the vulnerabilities where fraud can happen. These solutions monitor and analyze data from several data sources; detect anomalies and suspicious & unusual behavior across all channels; and provide a control mechanism to prevent fraudulent practices, in real-time.
The authentication solution helps enterprises in validating the identity of the transactions between the individuals as well as restricting any unauthorized access across organizations networks, servers, and other infrastructure. GRC solution is implemented across enterprises to manage business risks and abide with regulatory compliance environment. The various advantages that these solutions offer to the insurance sector in handling their security challenges will force the organizations to adopt insurance fraud detection solutions on a large scale.
Among deployment type, cloud deployment segment to grow at a higher CAGR during the forecast period
Under deployment type, insurance fraud detection market is segmented by cloud and on-premises. The cloud deployment type is set to grow at a higher CAGR during the forecast period. The deployment of cloud-based insurance fraud detection solutions is done over the internet, where software, infrastructure, platforms, devices, and other resources are provided as services on a pay-per-use basis by consumers. The cloud-based platform offers a unified way in the form of SaaS-based insurance fraud detection services to secure business applications. Cloud-based systems are comparatively less expensive than on-premises deployment, thus permitting businesses to reduce IT expenses, including hardware and support staff. Owing to these factors, organizations are adopting the cloud-based deployment type for deploying fraud detection solutions on a large scale.
North America to account for the largest market size, whereas APAC to grow at the highest CAGR
North America is projected to hold the largest market size of the insurance fraud detection market during the forecast period, owing to the early adoption of the insurance fraud detection solutions in the region. Protecting enterprise-critical infrastructures and sensitive data has become one of the major challenges, as the world is moving toward interconnections and digitalization. The growing trends, such as IoT, IoE, and penetration of smartphones, have increased the volume of data and transactions performed by online users. Moreover, mobile users are frequently targeted by fraudsters, as online mobile banking has become a popular method of making financial transactions. The rise in threats and vulnerabilities and government compliances has made North America the most lucrative industry for different categories of vendors. The concentrated presence of a large number of insurance fraud detection solution and services providers in the US is also expected to drive revenue growth from the region. The APAC market is expected to grow at the highest CAGR during the forecast period, owing to the rise in the threat of frauds at an alarming rate in the insurance sector in this region, thus driving an increase in spending on insurance fraud detection solutions.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the insurance fraud detection marketplace.
Research Coverage
The market study covers the insurance fraud detection market across segments. It aims at estimating the market size and the growth potential of the market across segments, such as component (solution (fraud analytics, authentication, and GRC solutions) and services), deployment type, organization size, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in the insurance fraud detection market with information on the closest approximations of the revenue numbers for the overall insurance fraud detection market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The global insurance fraud detection market size is expected to grow from USD 2.5 billion in 2019 to USD 7.9 billion by 2024, at a compound annual growth rate (CAGR) of 25.8% during the forecast period. Various factors, such as exponential rise in the sophistication level of cyber attacks and huge monetary losses due to these attacks in the insurance sector, are expected to drive the market. However, lack of awareness among organizations about the importance of fraud detection solutions and improper implementation coupled with the lack of integration of fraud detection solutions across organization networks may restrain the market growth.
Solution segment to hold a larger market size during the forecast period
The solution segment is expected to hold a larger market size in the fraud detection market during the forecast period. Fraud detection vendors help insurance organizations to tackle the security challenges and threats they pose due to the increased adoption of digital technologies such as IoT and BYOD in their organizations to enhance the customer experience. The solutions are classified into fraud analytics, authentication, and governance, risk, & compliance (GRC) solutions. Fraud analytics is a discipline which involves a set of analytical techniques that analyze enterprises’ systems and database to identify the vulnerabilities where fraud can happen. These solutions monitor and analyze data from several data sources; detect anomalies and suspicious & unusual behavior across all channels; and provide a control mechanism to prevent fraudulent practices, in real-time.
The authentication solution helps enterprises in validating the identity of the transactions between the individuals as well as restricting any unauthorized access across organizations networks, servers, and other infrastructure. GRC solution is implemented across enterprises to manage business risks and abide with regulatory compliance environment. The various advantages that these solutions offer to the insurance sector in handling their security challenges will force the organizations to adopt insurance fraud detection solutions on a large scale.
Among deployment type, cloud deployment segment to grow at a higher CAGR during the forecast period
Under deployment type, insurance fraud detection market is segmented by cloud and on-premises. The cloud deployment type is set to grow at a higher CAGR during the forecast period. The deployment of cloud-based insurance fraud detection solutions is done over the internet, where software, infrastructure, platforms, devices, and other resources are provided as services on a pay-per-use basis by consumers. The cloud-based platform offers a unified way in the form of SaaS-based insurance fraud detection services to secure business applications. Cloud-based systems are comparatively less expensive than on-premises deployment, thus permitting businesses to reduce IT expenses, including hardware and support staff. Owing to these factors, organizations are adopting the cloud-based deployment type for deploying fraud detection solutions on a large scale.
North America to account for the largest market size, whereas APAC to grow at the highest CAGR
North America is projected to hold the largest market size of the insurance fraud detection market during the forecast period, owing to the early adoption of the insurance fraud detection solutions in the region. Protecting enterprise-critical infrastructures and sensitive data has become one of the major challenges, as the world is moving toward interconnections and digitalization. The growing trends, such as IoT, IoE, and penetration of smartphones, have increased the volume of data and transactions performed by online users. Moreover, mobile users are frequently targeted by fraudsters, as online mobile banking has become a popular method of making financial transactions. The rise in threats and vulnerabilities and government compliances has made North America the most lucrative industry for different categories of vendors. The concentrated presence of a large number of insurance fraud detection solution and services providers in the US is also expected to drive revenue growth from the region. The APAC market is expected to grow at the highest CAGR during the forecast period, owing to the rise in the threat of frauds at an alarming rate in the insurance sector in this region, thus driving an increase in spending on insurance fraud detection solutions.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the insurance fraud detection marketplace.
- By Company: Tier 1 – 20%, Tier 2 – 55%, and Tier 3 – 25%
- By Designation: C-level – 50%, Director level – 25%, and Others – 25%
- By Region: North America – 45%, Europe – 25%, APAC – 20%, Latin America – 5%, Middle East and Africa: – 5%
Research Coverage
The market study covers the insurance fraud detection market across segments. It aims at estimating the market size and the growth potential of the market across segments, such as component (solution (fraud analytics, authentication, and GRC solutions) and services), deployment type, organization size, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in the insurance fraud detection market with information on the closest approximations of the revenue numbers for the overall insurance fraud detection market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 REGIONS COVERED
1.4 YEARS CONSIDERED FOR THE STUDY
1.5 CURRENCY CONSIDERED
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.2 PRIMARY DATA
2.1.2.1 Breakup of primary profiles
2.1.2.2 Key industry insights
2.2 MARKET BREAKUP AND DATA TRIANGULATION
2.3 MARKET SIZE ESTIMATION
2.3.1 TOP-DOWN APPROACH
2.3.2 BOTTOM-UP APPROACH
2.4 MARKET FORECAST
2.5 ASSUMPTIONS FOR THE STUDY
2.6 LIMITATIONS OF THE STUDY
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE MARKET OPPORTUNITIES IN THE INSURANCE FRAUD DETECTION MARKET
4.2 INSURANCE FRAUD DETECTION MARKET, BY COMPONENT, 2019–2024
4.3 INSURANCE FRAUD DETECTION MARKET, BY SOLUTION, 2019–2024
4.4 INSURANCE FRAUD DETECTION MARKET, MARKET SHARE OF TOP 3 SOLUTIONS AND REGIONS, 2019
4.5 INSURANCE FRAUD DETECTION MARKET, BY ORGANIZATION SIZE, 2019
4.6 INSURANCE FRAUD DETECTION MARKET, BY DEPLOYMENT MODE, 2019
4.7 MARKET INVESTMENT SCENARIO
5 MARKET OVERVIEW AND INDUSTRY TRENDS
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Need to effectively manage huge volumes of identities by organizations
5.2.1.2 Increasing adoption of advanced analytics techniques
5.2.1.3 Improved operational efficiency and enhanced customer experience
5.2.1.4 Stringent regulatory compliances
5.2.2 RESTRAINTS
5.2.2.1 Insurance institutions lack awareness regarding the fraud detection solutions
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing adoption of IoT and BYOD trends
5.2.3.2 Proliferation of cloud-based insurance fraud detection solutions and services among global organizations
5.2.4 CHALLENGES
5.2.4.1 Improper implementation and lack of integration of fraud detection solutions across organization networks
5.3 REGULATORY COMPLIANCES
5.3.1 KNOW YOUR CUSTOMER (KYC)
5.3.2 ANTI-MONEY LAUNDERING (AML)
5.3.3 GENERAL DATA PROTECTION REGULATION (GDPR)
5.3.4 ELECTRONIC IDENTIFICATION, AUTHENTICATION, AND TRUST SERVICES (EIDAS)
5.4 INNOVATION SPOTLIGHT
5.5 USE CASES
5.5.1 INSURANCE FRAUD DETECTION BY BAE SYSTEMS
5.5.2 CLAIMS FRAUD DETECTION IN INSURANCE, BY AUREUS ANALYTICS
5.5.3 OPTIMIZING INVESTIGATION PROCESS FOR IDENTIFYING ADDITIONAL PREMIUM OPPORTUNITIES, BY PRADS INC.
6 INSURANCE FRAUD DETECTION MARKET, BY COMPONENT
6.1 INTRODUCTION
6.2 SOLUTIONS
6.2.1 INCREASING FRAUDULENT ACTIVITIES TO DRIVE THE ADOPTION OF INSURANCE FRAUD DETECTION SOLUTIONS
6.3 SERVICES
6.3.1 GROWING NEED FOR SEAMLESS EXPERIENCE AND PERSONALIZED SERVICES TO FUEL THE DEMAND FOR SERVICES
7 INSURANCE FRAUD DETECTION MARKET, BY SOLUTION
7.1 INTRODUCTION
7.2 FRAUD ANALYTICS
7.2.1 PREDICTIVE ANALYTICS
7.2.1.1 Need to identify potential threats and claim frauds in insurance processes to drive the adoption of predictive analytics solutions
7.2.2 DESCRIPTIVE ANALYTICS
7.2.2.1 Need for interpretation of historical data to yield useful information to boost the adoption of descriptive analytics solutions in the insurance sector
7.2.3 SOCIAL MEDIA ANALYTICS
7.2.3.1 Need to identify suspicious patterns through specialized algorithms for effective fraud detection driving the adoption of social media analytics solutions in the insurance sector
7.2.4 BIG DATA ANALYTICS
7.2.4.1 Need for advanced analytical solution that proactively defends against fraudulent activities to drive the adoption of big data analytics solutions in the insurance sector
7.3 AUTHENTICATION
7.3.1 SINGLE-FACTOR AUTHENTICATION
7.3.1.1 Need for simple and less complex form of authentication solutions to boost the adoption of SFA solutions
7.3.2 MULTI-FACTOR AUTHENTICATION
7.3.2.1 Need to secure data and information against frauds driving the adoption of MFA solutions
7.3.3 RISK-BASED AUTHENTICATION
7.3.3.1 Need to analyze risk levels and apply stringent authentication processes driving the adoption of RBA solutions
7.4 GOVERNANCE, RISK, AND COMPLIANCE
7.4.1 NEED TO ADHERE TO VARIOUS COMPLIANCES AND MITIGATE RISK DRIVING THE ADOPTION OF GRC SOLUTIONS
7.5 OTHERS
8 INSURANCE FRAUD DETECTION MARKET, BY SERVICE
8.1 INTRODUCTION
8.2 PROFESSIONAL SERVICES
8.2.1 CONSULTING SERVICES
8.2.1.1 Growing need for highly-qualified experts, domain experts, and security professionals to fuel the demand for consulting services
8.2.2 TRAINING AND EDUCATION
8.2.2.1 Increasing need for skilled security professionals to fuel the demand for training and education services
8.2.3 SUPPORT AND MAINTENANCE
8.2.3.1 Growing need for installation, maintenance, and other support activities to boost the demand for support and maintenance services
8.3 MANAGED SERVICES
8.3.1 GROWING NEED FOR TECHNICAL EXPERTISE TO MAINTAIN AND UPDATE INSURANCE FRAUD DETECTION SOLUTIONS TO BOOST THE DEMAND FOR MANAGED SERVICES
9 INSURANCE FRAUD DETECTION MARKET, BY APPLICATION AREA
9.1 INTRODUCTION
9.2 CLAIMS FRAUD
9.2.1 RISE IN FRAUDULENT CLAIMS IN HEALTHCARE, LIFE, AND MOTOR INSURANCE AREAS TO BOOST THE ADOPTION OF INSURANCE FRAUD DETECTION SOLUTIONS
9.3 IDENTITY THEFT
9.3.1 GROWING IDENTITY-RELATED FRAUDS TO FUEL THE ADOPTION OF INSURANCE FRAUD DETECTION SOLUTIONS
9.4 PAYMENT FRAUD AND BILLING FRAUD
9.4.1 INCREASING FRAUDULENT ACTIVITIES RELATED TO DIGITAL TRANSACTIONS AND PAYMENTS TO BOOST THE ADOPTION OF INSURANCE FRAUD DETECTION SOLUTIONS
9.5 MONEY LAUNDERING
9.5.1 NEED TO DETECT AND PREVENT GROWING MONEY LAUNDERING ACTIVITIES TO BOOST THE ADOPTION OF INSURANCE FRAUD DETECTION SOLUTIONS
10 INSURANCE FRAUD DETECTION MARKET, BY DEPLOYMENT MODE
10.1 INTRODUCTION
10.2 CLOUD
10.2.1 LOW COST OF INSTALLATION, UPGRADE, AND MAINTENANCE TO BOOST THE ADOPTION OF CLOUD-BASED INSURANCE FRAUD DETECTION SOLUTIONS
10.3 ON-PREMISES
10.3.1 NEED TO SECURE THE IN-HOUSE APPLICATIONS, PLATFORMS, AND SYSTEMS AGAINST OPERATIONAL FRAUDS TO FUEL THE ADOPTION OF ON-PREMISES INSURANCE FRAUD DETECTION SOLUTIONS
11 INSURANCE FRAUD DETECTION MARKET, BY ORGANIZATION SIZE
11.1 INTRODUCTION
11.2 SMALL AND MEDIUM-SIZED ENTERPRISES
11.2.1 GROWING FRAUDULENT ACTIVITIES TO DRIVE THE ADOPTION OF INSURANCE FRAUD DETECTION SOLUTIONS AMONG SMALL AND MEDIUM-SIZED ENTERPRISES
11.3 LARGE ENTERPRISES
11.3.1 INCREASING FINANCIAL LOSSES AND HEFTY FINES FOR REGULATORY NON-COMPLIANCE TO BOOST THE ADOPTION OF INSURANCE FRAUD DETECTION SOLUTIONS AMONG LARGE ENTERPRISES
12 INSURANCE FRAUD DETECTION MARKET, BY REGION
12.1 INTRODUCTION
12.2 NORTH AMERICA
12.2.1 UNITED STATES
12.2.1.1 Increasing investments by the insurance sector in fraud detection solutions to drive the growth of insurance fraud detection market in the United States
12.2.2 CANADA
12.2.2.1 Government initiatives to safeguard network systems against frauds driving the growth of insurance fraud detection market in Canada
12.3 EUROPE
12.3.1 UNITED KINGDOM
12.3.1.1 Growing trend of BYOD and increased use of applications in enterprises and threat to organizational data driving the growth of insurance fraud detection market in the United Kingdom
12.3.2 GERMANY
12.3.2.1 Rising use of online transactions to pay premiums and increasing threat to confidential information driving the growth of insurance fraud detection market in Germany
12.3.3 FRANCE
12.3.3.1 Growing money laundering and identity impersonation to fuel the growth of insurance fraud detection market in France
12.3.4 REST OF EUROPE
12.4 ASIA PACIFIC
12.4.1 CHINA
12.4.1.1 Increasing need to secure APIs, mobile apps, and websites from fraudsters to contribute to the growth of insurance fraud detection market in China
12.4.2 JAPAN
12.4.2.1 Increasing number of potential frauds due to high internet penetration to fuel the growth of insurance fraud detection market in Japan
12.4.3 INDIA
12.4.3.1 Growing adoption of fraud detection solutions in the insurance sector due to increase in mobile applications use, digitalization of various services, and rise in fraud attacks to drive the adoption of insurance fraud detection solutions on a large scale in India
12.4.4 REST OF ASIA PACIFIC
12.5 MIDDLE EAST AND AFRICA
12.5.1 MIDDLE EAST
12.5.1.1 Increasing frauds in the insurance vertical to drive the growth of insurance fraud detection market in the Middle East
12.5.2 AFRICA
12.5.2.1 Hefty financial losses due to fraudulent attacks across the insurance organizations to contribute to the growth of insurance fraud detection market in Africa
12.6 LATIN AMERICA
12.6.1 BRAZIL
12.6.1.1 Increasing investments by SMEs and large enterprises due to growing frauds across endpoints, networks, and applications to drive the growth of insurance fraud detection market in Brazil
12.6.2 MEXICO
12.6.2.1 Increasing fraud attacks on insurance verticals to drive the growth of insurance fraud detection market in Mexico
12.6.3 REST OF LATIN AMERICA
13 COMPETITIVE LANDSCAPE
13.1 COMPETITIVE LEADERSHIP MAPPING
13.1.1 VISIONARY LEADERS
13.1.2 INNOVATORS
13.1.3 DYNAMIC DIFFERENTIATORS
13.1.4 EMERGING COMPANIES
13.2 STRENGTH OF PRODUCT PORTFOLIO
13.3 BUSINESS STRATEGY EXCELLENCE
13.4 COMPETITIVE SCENARIO
13.4.1 PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS
13.4.2 MERGERS AND ACQUISITIONS
13.4.3 NEW PRODUCT LAUNCHES/PRODUCT ENHANCEMENTS
13.4.4 BUSINESS EXPANSIONS
14 COMPANY PROFILES
14.1 INTRODUCTION
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
14.2 FICO
14.3 IBM
14.4 BAE SYSTEMS
14.5 SAS INSTITUTE
14.6 EXPERIAN
14.7 LEXISNEXIS
14.8 IOVATION
14.9 FRISS
14.10 SAP
14.11 FISERV
14.12 ACI WORLDWIDE
14.13 SIMILITY
14.14 KOUNT
14.15 SOFTWARE AG
14.16 BRIDGEI2I ANALYTICS SOLUTIONS
14.17 PERCEPTIVITI
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
15 APPENDIX
15.1 DISCUSSION GUIDE
15.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.3 AVAILABLE CUSTOMIZATIONS
15.4 RELATED REPORTS
15.5 AUTHOR DETAILS
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 REGIONS COVERED
1.4 YEARS CONSIDERED FOR THE STUDY
1.5 CURRENCY CONSIDERED
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.2 PRIMARY DATA
2.1.2.1 Breakup of primary profiles
2.1.2.2 Key industry insights
2.2 MARKET BREAKUP AND DATA TRIANGULATION
2.3 MARKET SIZE ESTIMATION
2.3.1 TOP-DOWN APPROACH
2.3.2 BOTTOM-UP APPROACH
2.4 MARKET FORECAST
2.5 ASSUMPTIONS FOR THE STUDY
2.6 LIMITATIONS OF THE STUDY
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE MARKET OPPORTUNITIES IN THE INSURANCE FRAUD DETECTION MARKET
4.2 INSURANCE FRAUD DETECTION MARKET, BY COMPONENT, 2019–2024
4.3 INSURANCE FRAUD DETECTION MARKET, BY SOLUTION, 2019–2024
4.4 INSURANCE FRAUD DETECTION MARKET, MARKET SHARE OF TOP 3 SOLUTIONS AND REGIONS, 2019
4.5 INSURANCE FRAUD DETECTION MARKET, BY ORGANIZATION SIZE, 2019
4.6 INSURANCE FRAUD DETECTION MARKET, BY DEPLOYMENT MODE, 2019
4.7 MARKET INVESTMENT SCENARIO
5 MARKET OVERVIEW AND INDUSTRY TRENDS
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Need to effectively manage huge volumes of identities by organizations
5.2.1.2 Increasing adoption of advanced analytics techniques
5.2.1.3 Improved operational efficiency and enhanced customer experience
5.2.1.4 Stringent regulatory compliances
5.2.2 RESTRAINTS
5.2.2.1 Insurance institutions lack awareness regarding the fraud detection solutions
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing adoption of IoT and BYOD trends
5.2.3.2 Proliferation of cloud-based insurance fraud detection solutions and services among global organizations
5.2.4 CHALLENGES
5.2.4.1 Improper implementation and lack of integration of fraud detection solutions across organization networks
5.3 REGULATORY COMPLIANCES
5.3.1 KNOW YOUR CUSTOMER (KYC)
5.3.2 ANTI-MONEY LAUNDERING (AML)
5.3.3 GENERAL DATA PROTECTION REGULATION (GDPR)
5.3.4 ELECTRONIC IDENTIFICATION, AUTHENTICATION, AND TRUST SERVICES (EIDAS)
5.4 INNOVATION SPOTLIGHT
5.5 USE CASES
5.5.1 INSURANCE FRAUD DETECTION BY BAE SYSTEMS
5.5.2 CLAIMS FRAUD DETECTION IN INSURANCE, BY AUREUS ANALYTICS
5.5.3 OPTIMIZING INVESTIGATION PROCESS FOR IDENTIFYING ADDITIONAL PREMIUM OPPORTUNITIES, BY PRADS INC.
6 INSURANCE FRAUD DETECTION MARKET, BY COMPONENT
6.1 INTRODUCTION
6.2 SOLUTIONS
6.2.1 INCREASING FRAUDULENT ACTIVITIES TO DRIVE THE ADOPTION OF INSURANCE FRAUD DETECTION SOLUTIONS
6.3 SERVICES
6.3.1 GROWING NEED FOR SEAMLESS EXPERIENCE AND PERSONALIZED SERVICES TO FUEL THE DEMAND FOR SERVICES
7 INSURANCE FRAUD DETECTION MARKET, BY SOLUTION
7.1 INTRODUCTION
7.2 FRAUD ANALYTICS
7.2.1 PREDICTIVE ANALYTICS
7.2.1.1 Need to identify potential threats and claim frauds in insurance processes to drive the adoption of predictive analytics solutions
7.2.2 DESCRIPTIVE ANALYTICS
7.2.2.1 Need for interpretation of historical data to yield useful information to boost the adoption of descriptive analytics solutions in the insurance sector
7.2.3 SOCIAL MEDIA ANALYTICS
7.2.3.1 Need to identify suspicious patterns through specialized algorithms for effective fraud detection driving the adoption of social media analytics solutions in the insurance sector
7.2.4 BIG DATA ANALYTICS
7.2.4.1 Need for advanced analytical solution that proactively defends against fraudulent activities to drive the adoption of big data analytics solutions in the insurance sector
7.3 AUTHENTICATION
7.3.1 SINGLE-FACTOR AUTHENTICATION
7.3.1.1 Need for simple and less complex form of authentication solutions to boost the adoption of SFA solutions
7.3.2 MULTI-FACTOR AUTHENTICATION
7.3.2.1 Need to secure data and information against frauds driving the adoption of MFA solutions
7.3.3 RISK-BASED AUTHENTICATION
7.3.3.1 Need to analyze risk levels and apply stringent authentication processes driving the adoption of RBA solutions
7.4 GOVERNANCE, RISK, AND COMPLIANCE
7.4.1 NEED TO ADHERE TO VARIOUS COMPLIANCES AND MITIGATE RISK DRIVING THE ADOPTION OF GRC SOLUTIONS
7.5 OTHERS
8 INSURANCE FRAUD DETECTION MARKET, BY SERVICE
8.1 INTRODUCTION
8.2 PROFESSIONAL SERVICES
8.2.1 CONSULTING SERVICES
8.2.1.1 Growing need for highly-qualified experts, domain experts, and security professionals to fuel the demand for consulting services
8.2.2 TRAINING AND EDUCATION
8.2.2.1 Increasing need for skilled security professionals to fuel the demand for training and education services
8.2.3 SUPPORT AND MAINTENANCE
8.2.3.1 Growing need for installation, maintenance, and other support activities to boost the demand for support and maintenance services
8.3 MANAGED SERVICES
8.3.1 GROWING NEED FOR TECHNICAL EXPERTISE TO MAINTAIN AND UPDATE INSURANCE FRAUD DETECTION SOLUTIONS TO BOOST THE DEMAND FOR MANAGED SERVICES
9 INSURANCE FRAUD DETECTION MARKET, BY APPLICATION AREA
9.1 INTRODUCTION
9.2 CLAIMS FRAUD
9.2.1 RISE IN FRAUDULENT CLAIMS IN HEALTHCARE, LIFE, AND MOTOR INSURANCE AREAS TO BOOST THE ADOPTION OF INSURANCE FRAUD DETECTION SOLUTIONS
9.3 IDENTITY THEFT
9.3.1 GROWING IDENTITY-RELATED FRAUDS TO FUEL THE ADOPTION OF INSURANCE FRAUD DETECTION SOLUTIONS
9.4 PAYMENT FRAUD AND BILLING FRAUD
9.4.1 INCREASING FRAUDULENT ACTIVITIES RELATED TO DIGITAL TRANSACTIONS AND PAYMENTS TO BOOST THE ADOPTION OF INSURANCE FRAUD DETECTION SOLUTIONS
9.5 MONEY LAUNDERING
9.5.1 NEED TO DETECT AND PREVENT GROWING MONEY LAUNDERING ACTIVITIES TO BOOST THE ADOPTION OF INSURANCE FRAUD DETECTION SOLUTIONS
10 INSURANCE FRAUD DETECTION MARKET, BY DEPLOYMENT MODE
10.1 INTRODUCTION
10.2 CLOUD
10.2.1 LOW COST OF INSTALLATION, UPGRADE, AND MAINTENANCE TO BOOST THE ADOPTION OF CLOUD-BASED INSURANCE FRAUD DETECTION SOLUTIONS
10.3 ON-PREMISES
10.3.1 NEED TO SECURE THE IN-HOUSE APPLICATIONS, PLATFORMS, AND SYSTEMS AGAINST OPERATIONAL FRAUDS TO FUEL THE ADOPTION OF ON-PREMISES INSURANCE FRAUD DETECTION SOLUTIONS
11 INSURANCE FRAUD DETECTION MARKET, BY ORGANIZATION SIZE
11.1 INTRODUCTION
11.2 SMALL AND MEDIUM-SIZED ENTERPRISES
11.2.1 GROWING FRAUDULENT ACTIVITIES TO DRIVE THE ADOPTION OF INSURANCE FRAUD DETECTION SOLUTIONS AMONG SMALL AND MEDIUM-SIZED ENTERPRISES
11.3 LARGE ENTERPRISES
11.3.1 INCREASING FINANCIAL LOSSES AND HEFTY FINES FOR REGULATORY NON-COMPLIANCE TO BOOST THE ADOPTION OF INSURANCE FRAUD DETECTION SOLUTIONS AMONG LARGE ENTERPRISES
12 INSURANCE FRAUD DETECTION MARKET, BY REGION
12.1 INTRODUCTION
12.2 NORTH AMERICA
12.2.1 UNITED STATES
12.2.1.1 Increasing investments by the insurance sector in fraud detection solutions to drive the growth of insurance fraud detection market in the United States
12.2.2 CANADA
12.2.2.1 Government initiatives to safeguard network systems against frauds driving the growth of insurance fraud detection market in Canada
12.3 EUROPE
12.3.1 UNITED KINGDOM
12.3.1.1 Growing trend of BYOD and increased use of applications in enterprises and threat to organizational data driving the growth of insurance fraud detection market in the United Kingdom
12.3.2 GERMANY
12.3.2.1 Rising use of online transactions to pay premiums and increasing threat to confidential information driving the growth of insurance fraud detection market in Germany
12.3.3 FRANCE
12.3.3.1 Growing money laundering and identity impersonation to fuel the growth of insurance fraud detection market in France
12.3.4 REST OF EUROPE
12.4 ASIA PACIFIC
12.4.1 CHINA
12.4.1.1 Increasing need to secure APIs, mobile apps, and websites from fraudsters to contribute to the growth of insurance fraud detection market in China
12.4.2 JAPAN
12.4.2.1 Increasing number of potential frauds due to high internet penetration to fuel the growth of insurance fraud detection market in Japan
12.4.3 INDIA
12.4.3.1 Growing adoption of fraud detection solutions in the insurance sector due to increase in mobile applications use, digitalization of various services, and rise in fraud attacks to drive the adoption of insurance fraud detection solutions on a large scale in India
12.4.4 REST OF ASIA PACIFIC
12.5 MIDDLE EAST AND AFRICA
12.5.1 MIDDLE EAST
12.5.1.1 Increasing frauds in the insurance vertical to drive the growth of insurance fraud detection market in the Middle East
12.5.2 AFRICA
12.5.2.1 Hefty financial losses due to fraudulent attacks across the insurance organizations to contribute to the growth of insurance fraud detection market in Africa
12.6 LATIN AMERICA
12.6.1 BRAZIL
12.6.1.1 Increasing investments by SMEs and large enterprises due to growing frauds across endpoints, networks, and applications to drive the growth of insurance fraud detection market in Brazil
12.6.2 MEXICO
12.6.2.1 Increasing fraud attacks on insurance verticals to drive the growth of insurance fraud detection market in Mexico
12.6.3 REST OF LATIN AMERICA
13 COMPETITIVE LANDSCAPE
13.1 COMPETITIVE LEADERSHIP MAPPING
13.1.1 VISIONARY LEADERS
13.1.2 INNOVATORS
13.1.3 DYNAMIC DIFFERENTIATORS
13.1.4 EMERGING COMPANIES
13.2 STRENGTH OF PRODUCT PORTFOLIO
13.3 BUSINESS STRATEGY EXCELLENCE
13.4 COMPETITIVE SCENARIO
13.4.1 PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS
13.4.2 MERGERS AND ACQUISITIONS
13.4.3 NEW PRODUCT LAUNCHES/PRODUCT ENHANCEMENTS
13.4.4 BUSINESS EXPANSIONS
14 COMPANY PROFILES
14.1 INTRODUCTION
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
14.2 FICO
14.3 IBM
14.4 BAE SYSTEMS
14.5 SAS INSTITUTE
14.6 EXPERIAN
14.7 LEXISNEXIS
14.8 IOVATION
14.9 FRISS
14.10 SAP
14.11 FISERV
14.12 ACI WORLDWIDE
14.13 SIMILITY
14.14 KOUNT
14.15 SOFTWARE AG
14.16 BRIDGEI2I ANALYTICS SOLUTIONS
14.17 PERCEPTIVITI
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
15 APPENDIX
15.1 DISCUSSION GUIDE
15.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.3 AVAILABLE CUSTOMIZATIONS
15.4 RELATED REPORTS
15.5 AUTHOR DETAILS
LIST OF TABLES
TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2016–2018
TABLE 2 FACTOR ANALYSIS
TABLE 3 INSURANCE FRAUD DETECTION MARKET SIZE AND GROWTH, 2017–2024 (USD MILLION, Y-O-Y %)
TABLE 4 INNOVATION SPOTLIGHT: LATEST INSURANCE FRAUD DETECTION SOLUTIONS
TABLE 5 INSURANCE FRAUD DETECTION MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
TABLE 6 SOLUTIONS: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 7 SERVICES: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 8 INSURANCE FRAUD DETECTION MARKET SIZE, BY SOLUTION, 2017–2024 (USD MILLION)
TABLE 9 FRAUD ANALYTICS: INSURANCE FRAUD DETECTION MARKET SIZE, BY TYPE, 2017–2024 (USD MILLION)
TABLE 10 FRAUD ANALYTICS: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 11 PREDICTIVE ANALYTICS MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 12 DESCRIPTIVE ANALYTICS MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 13 SOCIAL MEDIA ANALYTICS MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 14 BIG DATA ANALYTICS MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 15 AUTHENTICATION: INSURANCE FRAUD DETECTION MARKET SIZE, BY TYPE, 2017–2024 (USD MILLION)
TABLE 16 AUTHENTICATION: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 17 SINGLE-FACTOR AUTHENTICATION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 18 MULTI-FACTOR AUTHENTICATION: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 19 RISK-BASED AUTHENTICATION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 20 GOVERNANCE, RISK, AND COMPLIANCE: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 21 OTHERS: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 22 INSURANCE FRAUD DETECTION MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION)
TABLE 23 PROFESSIONAL SERVICES: INSURANCE FRAUD DETECTION MARKET SIZE, BY TYPE, 2017–2024 (USD MILLION)
TABLE 24 PROFESSIONAL SERVICES: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 25 CONSULTING SERVICES MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 26 TRAINING AND EDUCATION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 27 SUPPORT AND MAINTENANCE MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 28 MANAGED SERVICES: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 29 INSURANCE FRAUD DETECTION MARKET SIZE, BY DEPLOYMENT MODE, 2017–2024 (USD MILLION)
TABLE 30 CLOUD: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 31 ON-PREMISES: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 32 INSURANCE FRAUD DETECTION MARKET SIZE, BY ORGANIZATION SIZE, 2017–2024 (USD MILLION)
TABLE 33 SMALL AND MEDIUM-SIZED ENTERPRISES: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 34 LARGE ENTERPRISES: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 35 INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 36 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
TABLE 37 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY SOLUTION, 2017–2024 (USD MILLION)
TABLE 38 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY FRAUD ANALYTICS, 2017–2024 (USD MILLION)
TABLE 39 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY AUTHENTICATION, 2017–2024 (USD MILLION)
TABLE 40 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION)
TABLE 41 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY PROFESSIONAL SERVICE, 2017–2024 (USD MILLION)
TABLE 42 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY DEPLOYMENT MODE, 2017–2024 (USD MILLION)
TABLE 43 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY ORGANIZATION SIZE, 2017–2024 (USD MILLION)
TABLE 44 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 45 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
TABLE 46 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY SOLUTION, 2017–2024 (USD MILLION)
TABLE 47 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY FRAUD ANALYTICS, 2017–2024 (USD MILLION)
TABLE 48 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY AUTHENTICATION, 2017–2024 (USD MILLION)
TABLE 49 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION)
TABLE 50 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY PROFESSIONAL SERVICE, 2017–2024 (USD MILLION)
TABLE 51 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY DEPLOYMENT MODE, 2017–2024 (USD MILLION)
TABLE 52 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY ORGANIZATION SIZE, 2017–2024 (USD MILLION)
TABLE 53 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 54 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
TABLE 55 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY SOLUTION, 2017–2024 (USD MILLION)
TABLE 56 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY FRAUD ANALYTICS, 2017–2024 (USD MILLION)
TABLE 57 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY AUTHENTICATION, 2017–2024 (USD MILLION)
TABLE 58 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION)
TABLE 59 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY PROFESSIONAL SERVICE, 2017–2024 (USD MILLION)
TABLE 60 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY DEPLOYMENT MODE, 2017–2024 (USD MILLION)
TABLE 61 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY ORGANIZATION SIZE, 2017–2024 (USD MILLION)
TABLE 62 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 63 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
TABLE 64 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY SOLUTION, 2017–2024 (USD MILLION)
TABLE 65 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY FRAUD ANALYTICS, 2017–2024 (USD MILLION)
TABLE 66 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY AUTHENTICATION, 2017–2024 (USD MILLION)
TABLE 67 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION)
TABLE 68 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY PROFESSIONAL SERVICE, 2017–2024 (USD MILLION)
TABLE 69 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY DEPLOYMENT MODE, 2017–2024 (USD MILLION)
TABLE 70 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY ORGANIZATION SIZE, 2017–2024 (USD MILLION)
TABLE 71 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 72 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
TABLE 73 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY SOLUTION, 2017–2024 (USD MILLION)
TABLE 74 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY FRAUD ANALYTICS, 2017–2024 (USD MILLION)
TABLE 75 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY AUTHENTICATION, 2017–2024 (USD MILLION)
TABLE 76 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION)
TABLE 77 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY PROFESSIONAL SERVICE, 2017–2024 (USD MILLION)
TABLE 78 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY DEPLOYMENT MODE, 2017–2024 (USD MILLION)
TABLE 79 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY ORGANIZATION SIZE, 2017–2024 (USD MILLION)
TABLE 80 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 81 PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS, 2016–2018
TABLE 82 MERGERS AND ACQUISITIONS, 2017–2018
TABLE 83 NEW PRODUCT LAUNCHES/PRODUCT ENHANCEMENTS, 2016–2018
TABLE 84 BUSINESS EXPANSIONS, 2017–2018
TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2016–2018
TABLE 2 FACTOR ANALYSIS
TABLE 3 INSURANCE FRAUD DETECTION MARKET SIZE AND GROWTH, 2017–2024 (USD MILLION, Y-O-Y %)
TABLE 4 INNOVATION SPOTLIGHT: LATEST INSURANCE FRAUD DETECTION SOLUTIONS
TABLE 5 INSURANCE FRAUD DETECTION MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
TABLE 6 SOLUTIONS: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 7 SERVICES: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 8 INSURANCE FRAUD DETECTION MARKET SIZE, BY SOLUTION, 2017–2024 (USD MILLION)
TABLE 9 FRAUD ANALYTICS: INSURANCE FRAUD DETECTION MARKET SIZE, BY TYPE, 2017–2024 (USD MILLION)
TABLE 10 FRAUD ANALYTICS: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 11 PREDICTIVE ANALYTICS MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 12 DESCRIPTIVE ANALYTICS MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 13 SOCIAL MEDIA ANALYTICS MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 14 BIG DATA ANALYTICS MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 15 AUTHENTICATION: INSURANCE FRAUD DETECTION MARKET SIZE, BY TYPE, 2017–2024 (USD MILLION)
TABLE 16 AUTHENTICATION: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 17 SINGLE-FACTOR AUTHENTICATION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 18 MULTI-FACTOR AUTHENTICATION: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 19 RISK-BASED AUTHENTICATION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 20 GOVERNANCE, RISK, AND COMPLIANCE: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 21 OTHERS: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 22 INSURANCE FRAUD DETECTION MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION)
TABLE 23 PROFESSIONAL SERVICES: INSURANCE FRAUD DETECTION MARKET SIZE, BY TYPE, 2017–2024 (USD MILLION)
TABLE 24 PROFESSIONAL SERVICES: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 25 CONSULTING SERVICES MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 26 TRAINING AND EDUCATION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 27 SUPPORT AND MAINTENANCE MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 28 MANAGED SERVICES: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 29 INSURANCE FRAUD DETECTION MARKET SIZE, BY DEPLOYMENT MODE, 2017–2024 (USD MILLION)
TABLE 30 CLOUD: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 31 ON-PREMISES: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 32 INSURANCE FRAUD DETECTION MARKET SIZE, BY ORGANIZATION SIZE, 2017–2024 (USD MILLION)
TABLE 33 SMALL AND MEDIUM-SIZED ENTERPRISES: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 34 LARGE ENTERPRISES: INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 35 INSURANCE FRAUD DETECTION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 36 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
TABLE 37 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY SOLUTION, 2017–2024 (USD MILLION)
TABLE 38 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY FRAUD ANALYTICS, 2017–2024 (USD MILLION)
TABLE 39 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY AUTHENTICATION, 2017–2024 (USD MILLION)
TABLE 40 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION)
TABLE 41 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY PROFESSIONAL SERVICE, 2017–2024 (USD MILLION)
TABLE 42 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY DEPLOYMENT MODE, 2017–2024 (USD MILLION)
TABLE 43 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY ORGANIZATION SIZE, 2017–2024 (USD MILLION)
TABLE 44 NORTH AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 45 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
TABLE 46 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY SOLUTION, 2017–2024 (USD MILLION)
TABLE 47 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY FRAUD ANALYTICS, 2017–2024 (USD MILLION)
TABLE 48 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY AUTHENTICATION, 2017–2024 (USD MILLION)
TABLE 49 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION)
TABLE 50 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY PROFESSIONAL SERVICE, 2017–2024 (USD MILLION)
TABLE 51 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY DEPLOYMENT MODE, 2017–2024 (USD MILLION)
TABLE 52 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY ORGANIZATION SIZE, 2017–2024 (USD MILLION)
TABLE 53 EUROPE: INSURANCE FRAUD DETECTION MARKET SIZE, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 54 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
TABLE 55 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY SOLUTION, 2017–2024 (USD MILLION)
TABLE 56 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY FRAUD ANALYTICS, 2017–2024 (USD MILLION)
TABLE 57 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY AUTHENTICATION, 2017–2024 (USD MILLION)
TABLE 58 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION)
TABLE 59 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY PROFESSIONAL SERVICE, 2017–2024 (USD MILLION)
TABLE 60 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY DEPLOYMENT MODE, 2017–2024 (USD MILLION)
TABLE 61 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY ORGANIZATION SIZE, 2017–2024 (USD MILLION)
TABLE 62 ASIA PACIFIC: INSURANCE FRAUD DETECTION MARKET SIZE, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 63 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
TABLE 64 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY SOLUTION, 2017–2024 (USD MILLION)
TABLE 65 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY FRAUD ANALYTICS, 2017–2024 (USD MILLION)
TABLE 66 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY AUTHENTICATION, 2017–2024 (USD MILLION)
TABLE 67 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION)
TABLE 68 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY PROFESSIONAL SERVICE, 2017–2024 (USD MILLION)
TABLE 69 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY DEPLOYMENT MODE, 2017–2024 (USD MILLION)
TABLE 70 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY ORGANIZATION SIZE, 2017–2024 (USD MILLION)
TABLE 71 MIDDLE EAST AND AFRICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 72 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
TABLE 73 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY SOLUTION, 2017–2024 (USD MILLION)
TABLE 74 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY FRAUD ANALYTICS, 2017–2024 (USD MILLION)
TABLE 75 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY AUTHENTICATION, 2017–2024 (USD MILLION)
TABLE 76 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION)
TABLE 77 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY PROFESSIONAL SERVICE, 2017–2024 (USD MILLION)
TABLE 78 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY DEPLOYMENT MODE, 2017–2024 (USD MILLION)
TABLE 79 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY ORGANIZATION SIZE, 2017–2024 (USD MILLION)
TABLE 80 LATIN AMERICA: INSURANCE FRAUD DETECTION MARKET SIZE, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 81 PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS, 2016–2018
TABLE 82 MERGERS AND ACQUISITIONS, 2017–2018
TABLE 83 NEW PRODUCT LAUNCHES/PRODUCT ENHANCEMENTS, 2016–2018
TABLE 84 BUSINESS EXPANSIONS, 2017–2018
LIST OF FIGURES
FIGURE 1 INSURANCE FRAUD DETECTION MARKET: RESEARCH DESIGN
FIGURE 2 INSURANCE FRAUD DETECTION MARKET: TOP-DOWN AND
BOTTOM-UP APPROACHES
FIGURE 3 SERVICES SEGMENT TO GROW AT A HIGHER CAGR DURING
THE FORECAST PERIOD
FIGURE 4 NORTH AMERICA TO HOLD THE HIGHEST MARKET SHARE IN 2019
FIGURE 5 FASTEST-GROWING SEGMENTS OF THE INSURANCE FRAUD DETECTION MARKET
FIGURE 6 INCREASING CLAIMS FRAUD, STRINGENT REGULATIONS, AND INCREASED CLOUD ADOPTION TO DRIVE THE GROWTH OF INSURANCE FRAUD DETECTION MARKET
FIGURE 7 SOLUTIONS SEGMENT TO HAVE A HIGHER MARKET SHARE DURING THE FORECAST PERIOD
FIGURE 8 FRAUD ANALYTICS SEGMENT TO HAVE A HIGHER MARKET SHARE DURING THE FORECAST PERIOD
FIGURE 9 FRAUD ANALYTICS SOLUTION AND NORTH AMERICAN REGION TO HAVE THE HIGHEST MARKET SHARES IN 2019
FIGURE 10 LARGE ENTERPRISES SEGMENT TO HOLD A HIGHER MARKET SHARE IN 2019
FIGURE 11 ON-PREMISES SEGMENT TO HOLD A HIGHER MARKET SHARE IN 2019
FIGURE 12 ASIA PACIFIC TO EMERGE AS THE BEST MARKET FOR INVESTMENT IN
THE NEXT 5 YEARS
FIGURE 13 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: INSURANCE FRAUD DETECTION MARKET
FIGURE 14 SERVICES SEGMENT TO GROW AT A HIGHER CAGR DURING
THE FORECAST PERIOD
FIGURE 15 AUTHENTICATION SOLUTIONS SEGMENT TO RECORD THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 16 MANAGED SERVICES SEGMENT TO RECORD A HIGHER CAGR DURING
THE FORECAST PERIOD
FIGURE 17 CLOUD DEPLOYMENT MODE TO RECORD A HIGHER CAGR DURING
THE FORECAST PERIOD
FIGURE 18 SMALL AND MEDIUM-SIZED ENTERPRISES SEGMENT TO RECORD A HIGHER CAGR DURING THE FORECAST PERIOD
FIGURE 19 ASIA PACIFIC TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 20 NORTH AMERICA: MARKET SNAPSHOT
FIGURE 21 ASIA PACIFIC: MARKET SNAPSHOT
FIGURE 22 INSURANCE FRAUD DETECTION MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019
FIGURE 23 KEY DEVELOPMENTS BY THE LEADING PLAYERS IN THE INSURANCE FRAUD DETECTION MARKET FOR 2016–2018
FIGURE 24 GEOGRAPHIC REVENUE MIX OF THE TOP PLAYERS IN THE INSURANCE FRAUD DETECTION MARKET
FIGURE 25 FICO: COMPANY SNAPSHOT
FIGURE 26 FICO: SWOT ANALYSIS
FIGURE 27 IBM: COMPANY SNAPSHOT
FIGURE 28 IBM: SWOT ANALYSIS
FIGURE 29 BAE SYSTEMS: COMPANY SNAPSHOT
FIGURE 30 BAE SYSTEMS: SWOT ANALYSIS
FIGURE 31 SAS INSTITUTE: COMPANY SNAPSHOT
FIGURE 32 SAS INSTITUTE: SWOT ANALYSIS
FIGURE 33 EXPERIAN: COMPANY SNAPSHOT
FIGURE 34 EXPERIAN: SWOT ANALYSIS
FIGURE 35 SAP: COMPANY SNAPSHOT
FIGURE 36 FISERV: COMPANY SNAPSHOT
FIGURE 1 INSURANCE FRAUD DETECTION MARKET: RESEARCH DESIGN
FIGURE 2 INSURANCE FRAUD DETECTION MARKET: TOP-DOWN AND
BOTTOM-UP APPROACHES
FIGURE 3 SERVICES SEGMENT TO GROW AT A HIGHER CAGR DURING
THE FORECAST PERIOD
FIGURE 4 NORTH AMERICA TO HOLD THE HIGHEST MARKET SHARE IN 2019
FIGURE 5 FASTEST-GROWING SEGMENTS OF THE INSURANCE FRAUD DETECTION MARKET
FIGURE 6 INCREASING CLAIMS FRAUD, STRINGENT REGULATIONS, AND INCREASED CLOUD ADOPTION TO DRIVE THE GROWTH OF INSURANCE FRAUD DETECTION MARKET
FIGURE 7 SOLUTIONS SEGMENT TO HAVE A HIGHER MARKET SHARE DURING THE FORECAST PERIOD
FIGURE 8 FRAUD ANALYTICS SEGMENT TO HAVE A HIGHER MARKET SHARE DURING THE FORECAST PERIOD
FIGURE 9 FRAUD ANALYTICS SOLUTION AND NORTH AMERICAN REGION TO HAVE THE HIGHEST MARKET SHARES IN 2019
FIGURE 10 LARGE ENTERPRISES SEGMENT TO HOLD A HIGHER MARKET SHARE IN 2019
FIGURE 11 ON-PREMISES SEGMENT TO HOLD A HIGHER MARKET SHARE IN 2019
FIGURE 12 ASIA PACIFIC TO EMERGE AS THE BEST MARKET FOR INVESTMENT IN
THE NEXT 5 YEARS
FIGURE 13 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: INSURANCE FRAUD DETECTION MARKET
FIGURE 14 SERVICES SEGMENT TO GROW AT A HIGHER CAGR DURING
THE FORECAST PERIOD
FIGURE 15 AUTHENTICATION SOLUTIONS SEGMENT TO RECORD THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 16 MANAGED SERVICES SEGMENT TO RECORD A HIGHER CAGR DURING
THE FORECAST PERIOD
FIGURE 17 CLOUD DEPLOYMENT MODE TO RECORD A HIGHER CAGR DURING
THE FORECAST PERIOD
FIGURE 18 SMALL AND MEDIUM-SIZED ENTERPRISES SEGMENT TO RECORD A HIGHER CAGR DURING THE FORECAST PERIOD
FIGURE 19 ASIA PACIFIC TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 20 NORTH AMERICA: MARKET SNAPSHOT
FIGURE 21 ASIA PACIFIC: MARKET SNAPSHOT
FIGURE 22 INSURANCE FRAUD DETECTION MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019
FIGURE 23 KEY DEVELOPMENTS BY THE LEADING PLAYERS IN THE INSURANCE FRAUD DETECTION MARKET FOR 2016–2018
FIGURE 24 GEOGRAPHIC REVENUE MIX OF THE TOP PLAYERS IN THE INSURANCE FRAUD DETECTION MARKET
FIGURE 25 FICO: COMPANY SNAPSHOT
FIGURE 26 FICO: SWOT ANALYSIS
FIGURE 27 IBM: COMPANY SNAPSHOT
FIGURE 28 IBM: SWOT ANALYSIS
FIGURE 29 BAE SYSTEMS: COMPANY SNAPSHOT
FIGURE 30 BAE SYSTEMS: SWOT ANALYSIS
FIGURE 31 SAS INSTITUTE: COMPANY SNAPSHOT
FIGURE 32 SAS INSTITUTE: SWOT ANALYSIS
FIGURE 33 EXPERIAN: COMPANY SNAPSHOT
FIGURE 34 EXPERIAN: SWOT ANALYSIS
FIGURE 35 SAP: COMPANY SNAPSHOT
FIGURE 36 FISERV: COMPANY SNAPSHOT
