Identity Theft Insurance Market Is Likely to Experience a Tremendous Growth by 2028

The global identity theft insurance market is anticipated to grow at a considerable CAGR of 13.7% during the forecast period. According to the Federal Trade Commission (FTC), 1,434,695 complaints of identity theft were registered in 2021, 410,399 were of online shopping and negative reviews, and 106,246 were of Internet services across the globe. Moreover, credit card fraud, was the second-most common form of identity theft in 2021, with 389,845 reported incidents. Norton Cyber Safety Insights Report 2021, 45% of Indian adults have experienced online identity theft, this means that over 27 million Indians experienced identity theft. Rising incidences of identity theft globally, along with various initiatives such as partnership, launches, and acquisitions, taken by market players which includes Aura, Liberty Mutual, and Mcafee LLC are the major factor that positively impacts the market growth. 

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For instance, in July 2020, Aura, acquired Pango, to expand Aura's offerings to provide greater identity protection and security for customers. The addition of Pango bolsters Aura's security suite by bringing together world-class products, including Hotspot Shield, that uses military-grade encryption and security protocols to keep people safe from hackers . In addition, in November 2020, Sontiq partnered with Breach Clarity, to offer a wide variety of solutions that empowers individuals in the fight against identity vulnerabilities and data breaches with unprecedented personalized breach risk intelligence. 

Market Coverage

The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028

Segment Covered- 

By Type
By Application 

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World

Competitive Landscape -include American International Group (AIG), Nationwide Mutual Insurance Co., Experian, Geico, and others.

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Identity Theft Insurance Market Report Segment

By Type 

Financial Identity Theft 
Tax and Employment Identity Theft
Medical Identity Theft
Others (estate identity theft, synthetic identity theft)

By Application 

Individual 
Business 

 Identity Theft Insurance Market Report Segment by Region

North America                                                                                                           

United States
Canada               

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles 

Alliance Insurance Group
Aura Sub, LLC
Chubb Group of Insurance Co. 
Equifax Inc. 
Experian Information Solutions, Inc.
Geico Corp. 
Liberty Mutual Group
McAfee Corp.
MetLife, Inc.
NortonLifeLock Inc. 
Prepaid Legal Services, Inc.
Sontiq, Inc. 
The Hanover Insurance Group
The Travelers Companies, Inc.
Zander Insurance Group                

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