Insurance Fraud Detection Global Market Size, Share, By Component, By Type, By Application, By Technology, By Deployment, By Industry And Regional Forecast 2022-2031

The global insurance fraud detection market report by the business research company identifies the increase in cyberattacks is expected to propel the growth of the insurance fraud detection market. A cyberattack is a dangerous and intentional attempt by an individual or organization to gain access to another person's or organization's data. Insurance companies are an excellent target for cyber-attacks since they have access to a large amount of personal policyholder data. Compared to other industries, which hold mainly sensitive financial data, insurers typically also collect a large amount of protected personal sensitive information. For instance, the FBI's Internet Crime Complaint Centre (IC3), a website that provides users with a standardized process and interfaces for reporting suspected cybercrime or other illicit online activities in the US, saw a 69% increase in the number of cybercrimes reported received in 2020 compared to 2019 in the US. On average, in 2020, the FBI received 2,000 cybercrime reports per day. Therefore, an increase in cyberattacks is driving the growth of the insurance fraud detection market.

The global insurance fraud detection market size is expected to grow from $4.24 billion in 2021 to $5.19 billion in 2022 at a compound annual growth rate (CAGR) of 22.6%. The insurance fraud market size is expected to grow to $12.01 billion in 2026 at a CAGR of 23.3%.

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North America was the largest region in the insurance fraud detection market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the insurance fraud market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Major players in the insurance fraud detection market are 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., CI Worldwide Inc., Equifax Inc, and Perceptiviti.

The global insurance fraud detection market is segmented -
1) By Deployment Type: On-Premises, Cloud
2) By Component: Solution, Services
3) By Organization Size: Small and Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Application: Claims Fraud, Identity Theft, Payment and Billing Fraud, Money Laundering
5) By End-User: Insurance Companies, Agents and Brokers, Insurance Intermediaries, Others

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The Insurance Fraud Detection Market Report Contents Include
1. Executive Summary
2. Insurance Fraud Detection Market Characteristics
3. Insurance Fraud Detection Market Trends And Strategies
4. Impact Of COVID-19 On Insurance Fraud Detection
5. Insurance Fraud Detection Market Size And Growth
.....
26. Africa Insurance Fraud Detection Market
27. Insurance Fraud Detection Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Insurance Fraud Detection Market
29. Insurance Fraud Detection Market Future Outlook and Potential Analysis
30. Appendix

This report covers the trends and market dynamics of the insurance fraud detection market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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