Insurance Fraud Detection Global Market Report 2022 - Market Size, Trends, And Global Forecast 2022-2026
Insurance Fraud Detection Market Report by The Business Research Company covers the market drivers, restraints, size, major players, and the impact of COVID-19
LONDON, GREATER LONDON, UK, July 14, 2022 /EINPresswire.com/ -- According to ‘Insurance Fraud Detection Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the insurance fraud detection market size is expected to grow to $12.01 billion in 2026 at a CAGR of 23.3%. The increase in cyberattacks is expected to propel the growth of the insurance fraud detection market.
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The insurance fraud detection market consists of sales of insurance fraud detection services by entities (organizations, sole traders, and partnerships) that help in the identification and prevention of fraudulent activities related to money or insurance. Numerous software-based solutions are used to analyze historic patterns and incidents to predict future occurrences. Insurance fraud detection is generally used by organizations for fraud analytics, authentication, governance, risk, and compliance to safeguard databases and identify vulnerabilities.
Global Insurance Fraud Detection Market Trends
Technological advancements are one of the key insurance fraud detection market trends gaining popularity. Many companies are offering new solutions with upgraded technologies to improve the monitoring and identification of insurance fraud claims for their customers, which is shaping the insurance fraud detection market outlook. For instance, in December 2021, Crawford & Company, a US-based independent claims management company, launched the Crawford Intelligent Fraud Detection solution. This innovative solution combines human expertise with forensic analysis, leveraging DXC Luxoft's Financial Crimes Intelligence platform in collaboration with IBM to improve the detection and management of fraudulent claims. Crawford's significant knowledge and skills are leveraged in this solution, which uses AI to assist customers in detecting and managing insurance fraud.
Global Insurance Fraud Detection Market Segments
The global insurance fraud detection market is segmented:
By Deployment Type: On-Premises, Cloud
By Component: Solution, Services
By Organization Size: Small and Medium-Sized Enterprises (SMEs), Large Enterprises
By Application: Claims Fraud, Identity Theft, Payment and Billing Fraud, Money Laundering
By End-User: Insurance Companies, Agents and Brokers, Insurance Intermediaries, Others
By Geography: The global insurance fraud detection market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest share.
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Insurance Fraud Detection Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides insurance fraud detection market overviews, analyzes and forecasts market size and growth for the insurance fraud detection global market, insurance fraud detection global market share, insurance fraud detection global market segments and geographies, insurance fraud detection global market players, insurance fraud detection market leading competitor revenues, profiles and market shares. The insurance fraud detection market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s Insurance Fraud Detection Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key Market Players: ACI Worldwide Inc., BAE Systems, BRIDGEi2i Analytics Solutions Pvt. Ltd., Datawalk Inc., DXC Technology Co., Experian PLC, Fair Isaac Corp., Fiserv Inc., FRISS, IBM Corp., Iovation Inc., Kount Inc., LexisNexis, Oracle Corp., Scorto Inc., TransUnion LLC, Wipro Ltd., Accenture, CI Worldwide Inc., Equifax Inc, and Perceptiviti.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And So Much More.
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