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Global Insurance Fraud Detection Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019-2027

  • ID: 4832948
  • Report
  • Region: Global
  • Acute Market Reports
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FEATURED COMPANIES

  • ACI Worldwide, Inc.
  • BRIDGEi2i Analytics
  • FRISS
  • Kount Inc.
  • SAP SE
  • Simility
  • MORE
The global insurance fraud detection market is expected to witness a growth of 15.2% CAGR during the forecast period from 2019 to 2027.

Product Insights
The global insurance fraud detection market accounted for US$ 3.29 Bn in 2018 and is expected to witness considerable growth, mounting at a CAGR of 15.2% during the forecast period from 2019 to 2027. Insurance fraud detection is performed to detect and prevent insurance frauds. The extent of insurance fraud is startling, and it befalls wherever the insurance business or policies are booked. Insurance fraud records for at least 10% of all insurance premiums, a percent that has remained relatively constant over the past two decades. In realism, the complete scale of insurance fraud is unidentified. Even if there were a single group indicted with tracking all frauds, the task would have not been possible, as types of fraud are changing continually and are diverse. Given all this, insurers are required to shift from traditional ways of detecting fraud and start adopting advanced insurance fraud prevention and detection techniques. Rising investments in data analytics are shaping the insurance fraud detection market in a better way, thereby increasing its demand worldwide.

The insurance fraud detection market is segmented based on component, deployment mode, application, end-use vertical and geography. Based on component, solution segment led the market in 2018 and is likely to dominate the market during the forecast period from 2019 to 2027. The segment further comprises of solutions that include fraud analytics, authentication, governance, risk, and compliance, etc. The solution and service providers in the insurance fraud detection industry help insurance organizations to tackle the security threats and challenges that come across due to the increased espousal of digital technologies such as BYOD and IoT in their organizations for enhancing the customer experience. Also, based on deployment mode, the on-premise deployment mode held the largest market share in 2018. Furthermore, based on geography, the insurance fraud detection market was dominated by North America in 2018. The region is expected to continue with its reign during the forecast period from 2019 to 2027. In North America, the U.S. dominates the insurance fraud detection market. Growing incidences of insurance frauds in the country are facilitating market growth.

Competitive Insights
Major players in the insurance fraud detection market include ACI Worldwide, Inc., BAE Systems, BRIDGEi2i Analytics, Experian Information Solutions, Inc., Fair Isaac Corporation (FICO), Fiserv, Inc., FRISS, International Business Machines Corporation, iovation Inc., Kount Inc., LexisNexis, Perceptiviti Data Solutions Pvt. Ltd., SAP SE, SAS Institute Inc., Simility, and Software AG among others. The major players are focusing on taking up strategies such as partnerships, product innovation, etc. to endure and stand out in the competitive market environment.
Note: Product cover images may vary from those shown
2 of 3

FEATURED COMPANIES

  • ACI Worldwide, Inc.
  • BRIDGEi2i Analytics
  • FRISS
  • Kount Inc.
  • SAP SE
  • Simility
  • MORE
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Insurance Fraud Detection Market
2.2. Global Insurance Fraud Detection Market, by Component, 2018 (US$ Bn)
2.3. Global Insurance Fraud Detection Market, by Deployment Mode, 2018 (US$ Bn)
2.4. Global Insurance Fraud Detection Market, by Application, 2018 (US$ Bn)
2.5. Global Insurance Fraud Detection Market, by End-use Vertical, 2018 (US$ Bn)
2.6. Global Insurance Fraud Detection Market, by Geography, 2018 (US$ Bn)

3. Market Dynamics
3.1. Introduction
3.1.1. Global Insurance Fraud Detection Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players

4. Global Insurance Fraud Detection Market, by Component , 2017-2027 (US$ Bn)
4.1. Overview
4.2. Solution
4.2.1. Fraud Analytics
4.2.2. Authentication
4.2.3. Governance, Risk and Compliance
4.2.4. Others
4.3. Services

5. Global Insurance Fraud Detection Market, by Deployment Mode, 2017-2027 (US$ Bn)
5.1. Overview
5.2. Cloud
5.3. On-premise

6. Global Insurance Fraud Detection Market, by Application, 2017-2027 (US$ Bn)
6.1. Overview
6.2. Claims Fraud
6.3. Identity Theft
6.4. Payment Fraud and Billing Fraud
6.5. Money Laundering

7. Global Insurance Fraud Detection Market, by End-use Vertical, 2017-2027 (US$ Bn)
7.1. Overview
7.2. Automotive
7.3. Banking, Financial Services & Insurance (BFSI)
7.4. Healthcare
7.5. IT & Telecom
7.6. Energy & Utilities
7.7. Retail
7.8. Property & Real Estate
7.9. Others (Manufacturing, etc.)

8. North America Insurance Fraud Detection Market Analysis, 2017-2027 (US$ Bn)
8.1. Overview
8.1.1. North America Insurance Fraud Detection Market Value and Growth, 2017-2027, (US$ Bn)
8.2. North America Insurance Fraud Detection Market Value, By Component, 2017-2027 (US$ Bn)
8.2.1. Market Analysis
8.3. North America Insurance Fraud Detection Market Value, By Deployment Mode, 2017-2027 (US$ Bn)
8.3.1. Market Analysis
8.4. North America Insurance Fraud Detection Market Value, By Application, 2017-2027 (US$ Bn)
8.4.1. Market Analysis
8.5. North America Insurance Fraud Detection Market Value, By End-use Vertical, 2017-2027 (US$ Bn)
8.5.1. Market Analysis
8.6. North America Insurance Fraud Detection Market Value, By Region/Country, 2017-2027 (US$ Bn)
8.6.1. Market Analysis
8.6.2. U.S.
8.6.3. Rest of North America

9. Europe Insurance Fraud Detection Market Analysis, 2017-2027 (US$ Bn)
9.1. Overview
9.1.1. Europe Insurance Fraud Detection Market Value and Growth, 2017-2027, (US$ Bn)
9.2. Europe Insurance Fraud Detection Market Value, By Component, 2017-2027 (US$ Bn)
9.2.1. Market Analysis
9.3. Europe Insurance Fraud Detection Market Value, By Deployment Mode, 2017-2027 (US$ Bn)
9.3.1. Market Analysis
9.4. Europe Insurance Fraud Detection Market Value, By Application, 2017-2027 (US$ Bn)
9.4.1. Market Analysis
9.5. Europe Insurance Fraud Detection Market Value, By End-use Vertical, 2017-2027 (US$ Bn)
9.5.1. Market Analysis
9.6. Europe Insurance Fraud Detection Market Value, By Region/Country, 2017-2027 (US$ Bn)
9.6.1. Market Analysis
9.6.2. U.K.
9.6.3. Germany
9.6.4. France
9.6.5. Rest of Europe

10. Asia Pacific Insurance Fraud Detection Market Analysis, 2017-2027 (US$ Bn)
10.1. Overview
10.1.1. Asia Pacific Insurance Fraud Detection Market Value and Growth, 2017-2027, (US$ Bn)
10.2. Asia Pacific Insurance Fraud Detection Market Value, By Component, 2017-2027 (US$ Bn)
10.2.1. Market Analysis
10.3. Asia Pacific Insurance Fraud Detection Market Value, By Deployment Mode, 2017-2027 (US$ Bn)
10.3.1. Market Analysis
10.4. Asia Pacific Insurance Fraud Detection Market Value, By Application, 2017-2027 (US$ Bn)
10.4.1. Market Analysis
10.5. Asia Pacific Insurance Fraud Detection Market Value, By End-use Vertical, 2017-2027 (US$ Bn)
10.5.1. Market Analysis
10.6. Asia Pacific Insurance Fraud Detection Market Value, By Region/Country, 2017-2027 (US$ Bn)
10.6.1. Market Analysis
10.6.2. Japan
10.6.3. China
10.6.4. India
10.6.5. Rest of Asia Pacific

11. Rest of the World Insurance Fraud Detection Market Analysis, 2017-2027 (US$ Bn)
11.1. Overview
11.1.1. Rest of the World Insurance Fraud Detection Market Value and Growth, 2017-2027, (US$ Bn)
11.2. Rest of the World Insurance Fraud Detection Market Value, By Component, 2017-2027 (US$ Bn)
11.2.1. Market Analysis
11.3. Rest of the World Insurance Fraud Detection Market Value, By Deployment Mode, 2017-2027 (US$ Bn)
11.3.1. Market Analysis
11.4. Rest of the World Insurance Fraud Detection Market Value, By Application, 2017-2027 (US$ Bn)
11.4.1. Market Analysis
11.5. Rest of the World Insurance Fraud Detection Market Value, By End-use Vertical, 2017-2027 (US$ Bn)
11.5.1. Market Analysis
11.6. Rest of the World Insurance Fraud Detection Market Value, By Region, 2017-2027 (US$ Bn)
11.6.1. Market Analysis
11.6.2. Middle East & Africa
11.6.3. Latin America

12. Company Profiles
12.1. ACI Worldwide, Inc.
12.2. BAE Systems
12.3. BRIDGEi2i Analytics
12.4. Experian Information Solutions, Inc.
12.5. Fair Isaac Corporation (FICO)
12.6. Fiserv, Inc.
12.7. FRISS
12.8. International Business Machines Corporation
12.9. iovation Inc.
12.10. Kount Inc.
12.11. LexisNexis
12.12. Perceptiviti Data Solutions Pvt. Ltd.
12.13. SAP SE
12.14. SAS Institute Inc.
12.15. Simility
12.16. Software AG

List of Figures
Figure 1 Global Insurance Fraud Detection Market: Research Methodology
Figure 2 Market Size Estimation – Top-Down and Bottom Up Approach
Figure 3 Global Insurance Fraud Detection Market Segmentation
Figure 4 Global Insurance Fraud Detection Market, by Component, 2018 (US$ Bn)
Figure 5 Global Insurance Fraud Detection Market, by Deployment Mode, 2018 (US$ Bn)
Figure 6 Global Insurance Fraud Detection Market, by Application, 2018 (US$ Bn)
Figure 7 Global Insurance Fraud Detection Market, by End-use Vertical, 2018 (US$ Bn)
Figure 8 Global Insurance Fraud Detection Market, by Geography, 2018 (US$ Bn)
Figure 9 Global Insurance Fraud Detection Market Value, 2017-2027, (US$ Bn) and (Y-o-Y%)
Figure 10 Attractive Investment Proposition, by Geography, 2018
Figure 11 Global Market Positioning of Key Insurance Fraud Detection Providers, 2018
Figure 12 Global Insurance Fraud Detection Market Value Share, by Component, 2018 & 2027 (Value %)
Figure 13 Global Insurance Fraud Detection Solution Market Value, 2017-2027, (US$ Bn)
Figure 14 Global Insurance Fraud Detection Services Market Value, 2017-2027, (US$ Bn)
Figure 15 Global Insurance Fraud Detection Market Value Share, by Deployment Mode, 2018 & 2027 (Value %)
Figure 16 Global Cloud Insurance Fraud Detection Market Value, 2017-2027, (US$ Bn)
Figure 17 Global On-premise Insurance Fraud Detection Market Value, 2017-2027, (US$ Bn)
Figure 18 Global Insurance Fraud Detection Market Value Share, by Application, 2018 & 2027 (Value %)
Figure 19 Global Insurance Fraud Detection Market Value for Claims Fraud, 2017-2027, (US$ Bn)
Figure 20 Global Insurance Fraud Detection Market Value for Identity Theft, 2017-2027, (US$ Bn)
Figure 21 Global Insurance Fraud Detection Market Value for Payment Fraud and Billing Fraud, 2017-2027, (US$ Bn)
Figure 22 Global Insurance Fraud Detection Market Value for Money Laundering, 2017-2027, (US$ Bn)
Figure 23 Global Insurance Fraud Detection Market Value Share, by End-use Vertical, 2018 & 2027 (Value %)
Figure 24 Global Insurance Fraud Detection Market Value for Automotive, 2017-2027, (US$ Bn)
Figure 25 Global Insurance Fraud Detection Market Value for Banking, Financial Services & Insurance (BFSI), 2017-2027, (US$ Bn)
Figure 26 Global Insurance Fraud Detection Market Value for Healthcare, 2017-2027, (US$ Bn)
Figure 27 Global Insurance Fraud Detection Market Value for IT & Telecom, 2017-2027, (US$ Bn)
Figure 28 Global Insurance Fraud Detection Market Value for Energy & Utilities, 2017-2027, (US$ Bn)
Figure 29 Global Insurance Fraud Detection Market Value for Retail, 2017-2027, (US$ Bn)
Figure 30 Global Insurance Fraud Detection Market Value for Property & Real Estate, 2017-2027, (US$ Bn)
Figure 31 Global Insurance Fraud Detection Market Value for Others, 2017-2027, (US$ Bn)
Figure 32 North America Insurance Fraud Detection Market Value, 2017-2027, (US$ Bn)
Figure 33 Europe Insurance Fraud Detection Market Value, 2017-2027, (US$ Bn)
Figure 34 Asia Pacific Insurance Fraud Detection Market Value, 2017-2027, (US$ Bn)
Figure 35 RoW Insurance Fraud Detection Market Value, 2017-2027, (US$ Bn)

List of Tables
Table 1 Market Snapshot: Global Insurance Fraud Detection Market Value
Table 2 Impact Indicators
Table 3 Impact Analysis of Drivers and Restraints
Table 4 Global Insurance Fraud Detection Market, by Component, 2017-2027 (US$ Bn)
Table 5 Global Insurance Fraud Detection Market, by Deployment Mode, 2017-2027 (US$ Bn)
Table 6 Global Insurance Fraud Detection Market, by Application, 2017 - 2027 (US$ Bn)
Table 7 Global Insurance Fraud Detection Market, by End-use Vertical, 2017 - 2027 (US$ Bn)
Table 8 Global Insurance Fraud Detection Market, by Geography, 2017-2027 (US$ Bn)
Table 9 North America Insurance Fraud Detection Market, by Component, 2017-2027 (US$ Bn)
Table 10 North America Insurance Fraud Detection Market, by Deployment Mode, 2017-2027 (US$ Bn)
Table 11 North America Insurance Fraud Detection Market, by Application, 2017 - 2027 (US$ Bn)
Table 12 North America Insurance Fraud Detection Market, by End-use Vertical, 2017 - 2027 (US$ Bn)
Table 13 North America Insurance Fraud Detection Market Value, by Region/Country, 2017-2027 (US$ Bn)
Table 14 Europe Insurance Fraud Detection Market, by Component, 2017-2027 (US$ Bn)
Table 15 Europe Insurance Fraud Detection Market, by Deployment Mode, 2017-2027 (US$ Bn)
Table 16 Europe Insurance Fraud Detection Market, by Application, 2017 - 2027 (US$ Bn)
Table 17 Europe Insurance Fraud Detection Market, by End-use Vertical, 2017 - 2027 (US$ Bn)
Table 18 Europe Insurance Fraud Detection Market Value, by Region/Country, 2017-2027 (US$ Bn)
Table 19 Asia Pacific Insurance Fraud Detection Market, by Component, 2017-2027 (US$ Bn)
Table 20 Asia Pacific Insurance Fraud Detection Market, by Deployment Mode, 2017 -2027 (US$ Bn)
Table 21 Asia Pacific Insurance Fraud Detection Market, by Application, 2017 - 2027 (US$ Bn)
Table 22 Asia Pacific Insurance Fraud Detection Market, by End-use Vertical, 2017 - 2027 (US$ Bn)
Table 23 Asia Pacific Insurance Fraud Detection Market Value, by Region/Country, 2017-2027 (US$ Bn)
Table 24 Rest of the World Insurance Fraud Detection Market, by Component, 2017-2027 (US$ Bn)
Table 25 Rest of the World Insurance Fraud Detection Market, by Deployment Mode, 2017-2027 (US$ Bn)
Table 26 Rest of the World Insurance Fraud Detection Market, by Application, 2017 - 2027 (US$ Bn)
Table 27 Rest of the World Insurance Fraud Detection Market, by End-use Vertical, 2017 - 2027 (US$ Bn)
Table 28 Rest of the World Insurance Fraud Detection Market Value, by Region, 2017-2027 (US$ Bn)
Table 29 ACI Worldwide, Inc.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 30 BAE Systems: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 31 BRIDGEi2i Analytics: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 32 Experian Information Solutions, Inc.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 33 Fair Issac Corporation (FICO): Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 34 Fiserv, Inc.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 35 FRISS: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 36 International Business Machines Corporation: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 37 iovation Inc.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 38 Kount Inc.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 39 LexisNexis: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 40 Perceptive Data Solutions Pvt. Ltd.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 41 SAP SE: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 42 SAS Institute Inc.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 43 Simility: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Table 44 Software AG: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
Note: Product cover images may vary from those shown
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  • ACI Worldwide, Inc.
  • BAE Systems
  • BRIDGEi2i Analytics
  • Experian Information Solutions, Inc.
  • Fair Isaac Corporation (FICO)
  • Fiserv, Inc.
  • FRISS
  • International Business Machines Corporation
  • iovation Inc.
  • Kount Inc.
  • LexisNexis
  • Perceptiviti Data Solutions Pvt. Ltd.
  • SAP SE
  • SAS Institute Inc.
  • Simility
  • Software AG
Note: Product cover images may vary from those shown
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