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Insurance Fraud Detection Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031

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    Report

  • 116 Pages
  • January 2023
  • Region: Global
  • Acute Market Reports
  • ID: 5750426
Description Jump to:
Throughout the forecast period 2023-2031, analysts anticipate the global market for insurance fraud detection to demonstrate a CAGR of 15.21%. Because of the rapid adoption of insurance fraud detection technology among organizations in this region, North America is anticipated to hold the largest market size in the detection of insurance fraud and is anticipated to hold the maximum market during the forecast period. The presence of a large number of insurance fraud detection solutions and service providers in this region is also expected to drive market growth during the forecast period. Additionally, the rise in threats and vulnerabilities, as well as government compliances, are expected to drive the market. While the Asia-Pacific region is expected to grow at the fastest CAGR during the forecast period, this is expected to be driven by increasing awareness about the benefits of insurance fraud detection solutions among small and medium enterprises as well as in large enterprises to prevent various types of fraud such as payment frauds, identity theft, claim fraud, and other types of fraud that drive the market growth.

The Expansion of cyberattacks, a large number of identities, and resulting financial losses drive the market for fraud detection services and solutions

The expansion of cyberattacks, the astronomical number of identities that businesses need to manage, and the considerable financial losses that have resulted from attacks on the insurance industry are all factors that are driving the growth of the market. For example, the Federal Bureau of Investigation reports that insurance fraud is the second most common type of white-collar crime in the United States and that it is responsible for losses totaling approximately $300 million annually.

The growing prevalence of the use of digitalization

The growing use of technologies within the Banking, financial services, and insurance (BFSI) sector, including artificial intelligence, machine learning, and blockchain, has led to enormous data security vulnerabilities. In addition, as this sector of the economy becomes increasingly digitalized, the demand for data protection in the BFSI security market is continuing to increase due to the prevalence of cyberattacks and thefts. Additionally, financial organizations such as banks, financial institutions, and other financing organizations are rapidly making the transition to digitalizing their business operations. This has led to a massive increase in the adoption and implementation of various security solutions and services.

Risk of data leak by third-party services

The BFSI industry makes use of various security solutions and services due to its susceptibility to external as well as internal security threats. On the other hand, BFSI security organizations are typically third-party service providers that offer security solutions to several clients and industry verticals all at the same time. In addition to this, it may make it difficult for businesses to manage the data coming from several different companies. As a consequence of this, issues in trusting security solutions and services, as well as the possibility of engaging third parties, both of which could result in the disclosure of sensitive data, restrict the expansion of the industry.

The Authentication Solution Sector Dominates the component Market

On the basis of the solutions that are offered, the market may be split up into different categories: authentication, fraud analytics, governance, risk, and compliance. In 2022, the authentication solution sector was responsible for the greatest share of the total market revenue. The manual processing of insurance fraud cases is no longer used by insurance companies. The development of new technologies, such as data analytics for the purpose of fraud detection, has emerged as one of the most important tools that companies use in order to manage the dangers and difficulties presented by the expanding fraud ecosystem. Combining data from a variety of sources allows for the development of very effective fraud detection capabilities. In addition, analytics has been of critical importance in the process of combining internal data with data from other parties, which has resulted in improved fraud detection capabilities. Through the utilization of strategies such as predictive modeling, the adoption of analytics has made fraud detection significantly more effective. As a result of this, the organization has been able to examine a variety of fraud instances, narrow down likely causes, and locate low-incidence fraud situations to conduct a more extensive investigation.

On-Premises Deployments Dominate the Market by Deployment Mode, 2022 (US$ Million)

In 2022, the market was primarily driven by the on-premises deployment segment. The organization can find and flag potentially fraudulent activity in real-time with the assistance of the fraud detection tools that are installed on-premises. When it comes to recognizing dangerous tendencies, the providers are delivering either a rule-based approach or a predictive behavioral scoring model, or both. In spite of the existence of automated technologies, the organization still needs human participation to properly assess certain reports. On-premises solutions, as opposed to cloud-based services, are hence the primary method of reliance for businesses.

North America Remains as the Global Leader

In 2022, the North American region had the lion's share of the revenue pie, which was more than 42%. The expansion of the region has been bolstered by the presence of significant players such as ACI Worldwide, Inc., BAE Systems, and Fiserv, Inc., amongst others. Property, liability, and life annuities make up the three primary subsectors that make up the United States insurance industry within the North American region. The government of the United States of America has made it mandatory for its citizens to purchase health and life insurance. As a result, an enormous market was created for the insurance industry. As a consequence of this, it has created the possibility of opening the door to exploit vulnerabilities for fraudulent operations such as claims processing. According to research that was carried out by the Federal Bureau of Investigation (FBI), the overall estimated cost of insurance fraud in the U.S. is anticipated to be more than USD 40 billion each year. This is anticipated to provide development prospects for the industry.

It is predicted that the regional market in the Asia Pacific will record the highest CAGR of 18.67% during the forecast period of 2023 to 2031. To combat the widespread problem of insurance fraud in the area, local businesses have begun implementing cutting-edge technological solutions to take preventative action. In addition, an increase in expenditure on improved techniques for claims management as well as improved claims processing is predicted to be a driving force behind regional growth. This is done to assure client happiness and retention. It is anticipated that an increase in the understanding of fraud prevention techniques would lead to an increase in the demand for fraud prevention solutions.

Market to Remain Fragmented During the Forecast Period

The presence of numerous individual and comprehensive insurance fraud detection solutions providers that are active across the globe has resulted in an extremely fragmented market. Key players in this market segment include Accenture, ACI Worldwide, Inc., SAS Institute Inc., IBM Corporation, Fiserv, Inc., SAP SE, Experian Plc, BAE Systems, LexisNexis, Kount, FRISS, FICO, and others some of the most important companies in this market. The growth of small and medium firms offering individualized solutions contributes to the industry's other distinguishing feature, which is an intense rivalry. In addition, it is anticipated that suppliers of fraud detection as a service would boost market competitiveness as a result of the comprehensive and cost-effective product offers that they provide. As the number of instances of fraudulent activities continues to pose a problem for the insurance sector, fraud detection companies are anticipated to grab the opportunity presented by the changing ecosystem. It is predicted that the suppliers would offer sophisticated solutions that cater to particular issues, making it possible for an insurer to have a comprehensive fraud detection procedure.

Historical & Forecast Period

This study report represents an analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Insurance Fraud Detection market are as follows:
  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the Insurance Fraud Detection market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Market Segmentation

Component

  • Solution
  • Fraud Analytics
  • Authentication
  • Governance, Risk and Compliance
  • Others
  • Services

Deployment Mode

  • Cloud
  • On-premise

Application

  • Claims Fraud
  • Identity Theft
  • Payment Fraud and Billing Fraud
  • Money Laundering

End-use Vertical

  • Automotive
  • Banking, Financial Services & Insurance (BFSI)
  • Healthcare
  • IT & Telecom
  • Energy & Utilities
  • Retail
  • Property & Real Estate
  • Others (Manufacturing, etc.)

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Insurance Fraud Detection market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2031.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Insurance Fraud Detection market?
  • Which is the largest regional market for Insurance Fraud Detection market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Insurance Fraud Detection market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Insurance Fraud Detection market worldwide?


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Table of Contents

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. Key Offerings
1.2. Market Segmentation
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. Assumptions
1.3.5. Approach Adopted

2. Executive Summary
2.1. Market Snapshot: Global Insurance Fraud Detection Market
2.2. Global Insurance Fraud Detection Market, By Component, 2022 (US$ Million)
2.3. Global Insurance Fraud Detection Market, By Deployment Mode, 2022 (US$ Million)
2.4. Global Insurance Fraud Detection Market, By Application, 2022 (US$ Million)
2.5. Global Insurance Fraud Detection Market, By End-use Vertical, 2022 (US$ Million)
2.6. Global Insurance Fraud Detection Market, By Geography, 2022 (US$ Million)
2.7. Attractive Investment Proposition by Geography, 2022
2.8. Key Buying Criteria
2.9. Key Case Reports
2.10. Scenario Analysis
2.10.1. Optimistic estimates and analysis
2.10.2. Realistic estimates and analysis
2.10.3. Pessimistic estimates and analysis
2.11. Market Profiling
2.12. Sales and Marketing Plan
2.13. Top Market Conclusions
2.14. Strategic Recommendations

3. Insurance Fraud Detection Market: Competitive Analysis
3.1. Market Positioning of Key Insurance Fraud Detection Market Vendors
3.2. Strategies Adopted by Insurance Fraud Detection Market Vendors
3.3. Key Industry Strategies
3.4. Tier Analysis 2022 Versus 2031

4. Insurance Fraud Detection Market: Macro Analysis & Market Dynamics
4.1. Introduction
4.2. Global Insurance Fraud Detection Market Value, 2021 - 2031, (US$ Million)
4.3. Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Key Challenges
4.3.4. Key Opportunities
4.4. Impact Analysis of Drivers and Restraints
4.5. See-Saw Analysis
4.6. Porter’s Five Force Model
4.6.1. Supplier Power
4.6.2. Buyer Power
4.6.3. Threat Of Substitutes
4.6.4. Threat Of New Entrants
4.6.5. Competitive Rivalry
4.7. PESTEL Analysis
4.7.1. Political Landscape
4.7.2. Economic Landscape
4.7.3. Technology Landscape
4.7.4. Legal Landscape
4.7.5. Social Landscape
4.8. Heptalysis Analysis
4.9. Critical Investigation of Business Problems Through Five Whys Root Cause Analysis & Relevant Solutions

5. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2022 Versus 2031
5.3. Market Segmentation
5.3.1. Solution
5.3.1.1. Fraud Analytics
5.3.1.2. Authentication
5.3.1.3. Governance, Risk and Compliance
5.3.1.4. Others
5.3.2. Services

6. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2022 Versus 2031
6.3. Market Segmentation
6.3.1. Cloud
6.3.2. On-premise

7. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
7.1. Market Overview
7.2. Growth & Revenue Analysis: 2022 Versus 2031
7.3. Market Segmentation
7.3.1. Claims Fraud
7.3.2. Identity Theft
7.3.3. Payment Fraud and Billing Fraud
7.3.4. Money Laundering

8. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
8.1. Market Overview
8.2. Growth & Revenue Analysis: 2022 Versus 2031
8.3. Market Segmentation
8.3.1. Automotive
8.3.2. Banking, Financial Services & Insurance (BFSI)
8.3.3. Healthcare
8.3.4. IT & Telecom
8.3.5. Energy & Utilities
8.3.6. Retail
8.3.7. Property & Real Estate
8.3.8. Others (Manufacturing, etc.)

9. Geographic Analysis
9.1. Market Overview
9.2.Macro Factors versus Market Impact: Dashboard, 2022
9.3. Porters Five Force Model Across Geography: Dashboard, 2022
9.4. Impact of PESTEL factors Across Geography: Dashboard, 2022

10. North America Insurance Fraud Detection Market, 2021-2031, USD (Million)
10.1. Market Overview
10.2. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
10.3. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
10.4. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
10.5. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
10.6.Insurance Fraud Detection Market: By Region, 2021-2031, USD (Million)
10.6.1.North America
10.6.1.1. U.S.
10.6.1.1.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
10.6.1.1.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
10.6.1.1.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
10.6.1.1.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
10.6.1.2. Canada
10.6.1.2.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
10.6.1.2.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
10.6.1.2.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
10.6.1.2.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
10.6.1.3. Rest of North America
10.6.1.3.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
10.6.1.3.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
10.6.1.3.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
10.6.1.3.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)

11. UK and European Union Insurance Fraud Detection Market, 2021-2031, USD (Million)
11.1. Market Overview
11.2. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
11.3. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
11.4. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
11.5. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
11.6.Insurance Fraud Detection Market: By Region, 2021-2031, USD (Million)
11.6.1.UK and European Union
11.6.1.1. UK
11.6.1.1.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
11.6.1.1.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
11.6.1.1.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
11.6.1.1.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
11.6.1.2. Germany
11.6.1.2.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
11.6.1.2.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
11.6.1.2.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
11.6.1.2.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
11.6.1.3. Spain
11.6.1.3.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
11.6.1.3.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
11.6.1.3.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
11.6.1.3.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
11.6.1.4. Italy
11.6.1.4.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
11.6.1.4.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
11.6.1.4.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
11.6.1.4.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
11.6.1.5. France
11.6.1.5.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
11.6.1.5.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
11.6.1.5.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
11.6.1.5.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
11.6.1.6. Rest of Europe
11.6.1.6.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
11.6.1.6.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
11.6.1.6.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
11.6.1.6.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)

12. Asia Pacific Insurance Fraud Detection Market, 2021-2031, USD (Million)
12.1. Market Overview
12.2. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
12.3. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
12.4. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
12.5. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
12.6.Insurance Fraud Detection Market: By Region, 2021-2031, USD (Million)
12.6.1.Asia Pacific
12.6.1.1. China
12.6.1.1.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
12.6.1.1.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
12.6.1.1.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
12.6.1.1.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
12.6.1.2. Japan
12.6.1.2.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
12.6.1.2.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
12.6.1.2.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
12.6.1.2.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
12.6.1.3. India
12.6.1.3.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
12.6.1.3.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
12.6.1.3.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
12.6.1.3.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
12.6.1.4. Australia
12.6.1.4.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
12.6.1.4.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
12.6.1.4.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
12.6.1.4.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
12.6.1.5. South Korea
12.6.1.5.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
12.6.1.5.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
12.6.1.5.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
12.6.1.5.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
12.6.1.6. Rest of Asia Pacific
12.6.1.6.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
12.6.1.6.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
12.6.1.6.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
12.6.1.6.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)

13. Latin America Insurance Fraud Detection Market, 2021-2031, USD (Million)
13.1. Market Overview
13.2. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
13.3. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
13.4. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
13.5. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
13.6.Insurance Fraud Detection Market: By Region, 2021-2031, USD (Million)
13.6.1.Latin America
13.6.1.1. Brazil
13.6.1.1.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
13.6.1.1.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
13.6.1.1.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
13.6.1.1.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
13.6.1.2. Mexico
13.6.1.2.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
13.6.1.2.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
13.6.1.2.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
13.6.1.2.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
13.6.1.3. Rest of Latin America
13.6.1.3.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
13.6.1.3.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
13.6.1.3.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
13.6.1.3.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)

14. Middle East and Africa Insurance Fraud Detection Market, 2021-2031, USD (Million)
14.1. Market Overview
14.2. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
14.3. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
14.4. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
14.5. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
14.6.Insurance Fraud Detection Market: By Region, 2021-2031, USD (Million)
14.6.1.Middle East and Africa
14.6.1.1. GCC
14.6.1.1.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
14.6.1.1.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
14.6.1.1.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
14.6.1.1.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
14.6.1.2. Africa
14.6.1.2.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
14.6.1.2.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
14.6.1.2.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
14.6.1.2.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)
14.6.1.3. Rest of Middle East and Africa
14.6.1.3.1. Insurance Fraud Detection Market: By Component, 2021-2031, USD (Million)
14.6.1.3.2. Insurance Fraud Detection Market: By Deployment Mode, 2021-2031, USD (Million)
14.6.1.3.3. Insurance Fraud Detection Market: By Application, 2021-2031, USD (Million)
14.6.1.3.4. Insurance Fraud Detection Market: By End-use Vertical, 2021-2031, USD (Million)

15. Company Profile
15.1. ACI Worldwide, Inc.
15.1.1. Company Overview
15.1.2. Financial Performance
15.1.3. Product Portfolio
15.1.4. Strategic Initiatives
15.2. BAE Systems
15.2.1. Company Overview
15.2.2. Financial Performance
15.2.3. Product Portfolio
15.2.4. Strategic Initiatives
15.3. Accenture
15.3.1. Company Overview
15.3.2. Financial Performance
15.3.3. Product Portfolio
15.3.4. Strategic Initiatives
15.4. Experian Information Solutions, Inc.
15.4.1. Company Overview
15.4.2. Financial Performance
15.4.3. Product Portfolio
15.4.4. Strategic Initiatives
15.5. Fair Isaac Corporation (FICO)
15.5.1. Company Overview
15.5.2. Financial Performance
15.5.3. Product Portfolio
15.5.4. Strategic Initiatives
15.6. Fiserv, Inc.
15.6.1. Company Overview
15.6.2. Financial Performance
15.6.3. Product Portfolio
15.6.4. Strategic Initiatives
15.7. FRISS
15.7.1. Company Overview
15.7.2. Financial Performance
15.7.3. Product Portfolio
15.7.4. Strategic Initiatives
15.8. IBM Corporation
15.8.1. Company Overview
15.8.2. Financial Performance
15.8.3. Product Portfolio
15.8.4. Strategic Initiatives
15.9. TransUnion
15.9.1. Company Overview
15.9.2. Financial Performance
15.9.3. Product Portfolio
15.9.4. Strategic Initiatives
15.10. Kount Inc.
15.10.1. Company Overview
15.10.2. Financial Performance
15.10.3. Product Portfolio
15.10.4. Strategic Initiatives
15.11. LexisNexis Risk Solutions
15.11.1. Company Overview
15.11.2. Financial Performance
15.11.3. Product Portfolio
15.11.4. Strategic Initiatives
15.12. Perceptiviti Data Solutions Pvt. Ltd.
15.12.1. Company Overview
15.12.2. Financial Performance
15.12.3. Product Portfolio
15.12.4. Strategic Initiatives
15.13. SAP SE
15.13.1. Company Overview
15.13.2. Financial Performance
15.13.3. Product Portfolio
15.13.4. Strategic Initiatives
15.14. SAS Institute Inc.
15.14.1. Company Overview
15.14.2. Financial Performance
15.14.3. Product Portfolio
15.14.4. Strategic Initiatives
15.15. Simility, Inc
15.15.1. Company Overview
15.15.2. Financial Performance
15.15.3. Product Portfolio
15.15.4. Strategic Initiatives
15.16. Software AG
15.16.1. Company Overview
15.16.2. Financial Performance
15.16.3. Product Portfolio
15.16.4. Strategic Initiatives
15.17. Uplexis
15.17.1. Company Overview
15.17.2. Financial Performance
15.17.3. Product Portfolio
15.17.4. Strategic Initiatives
15.18. Others
15.18.1. Company Overview
15.18.2. Financial Performance
15.18.3. Product Portfolio
15.18.4. Strategic Initiatives


List of Figures
Figure 1 Global Insurance Fraud Detection Market: Market Coverage
Figure 2 Research Methodology and Data Sources
Figure 3 Market Size Estimation - Top Down & Bottom-Up Approach
Figure 4 Global Insurance Fraud Detection Market: Quality Assurance
Figure 5 Global Insurance Fraud Detection Market, By Component, 2022
Figure 6 Global Insurance Fraud Detection Market, By Deployment Mode, 2022
Figure 7 Global Insurance Fraud Detection Market, By Application, 2022
Figure 8 Global Insurance Fraud Detection Market, By End-use Vertical, 2022
Figure 9 Global Insurance Fraud Detection Market, By Geography, 2022
Figure 10 Market Geographical Opportunity Matrix - Global Insurance Fraud Detection Market, 2022
Figure 11 Market Positioning of Key Insurance Fraud Detection Market Players, 2022
Figure 12 Global Insurance Fraud Detection Market - Tier Analysis - Percentage of Revenues by Tier Level, 2022 Versus 2031
Figure 13 Porters Five Force Model - Current, Midterm and Long Term Perspective
Figure 14 See Saw Analysis
Figure 15 PETEL Analysis
Figure 16 Key Buying Criteria: Current and Long-Term Perspective
Figure 17 Global Insurance Fraud Detection Market, Scenario Analysis, 2021 to 2031 (US$ Million)
Figure 18 Heptalysis Analysis: Global Insurance Fraud Detection Market
Figure 19 Five Whys Analysis
Figure 20 Global Insurance Fraud Detection Market, By Component, 2022 Vs 2031, %
Figure 21 Global Insurance Fraud Detection Market, By Deployment Mode, 2022 Vs 2031, %
Figure 22 Global Insurance Fraud Detection Market, By Application, 2022 Vs 2031, %
Figure 23 Global Insurance Fraud Detection Market, By End-use Vertical, 2022 Vs 2031, %
Figure 24 U.S. Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 25 Canada Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 26 Rest of North America Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 27 UK Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 28 Germany Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 29 Spain Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 30 Italy Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 31 France Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 32 Rest of Europe Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 33 China Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 34 Japan Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 35 India Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 36 Australia Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 37 South Korea Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 38 Rest of Asia Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 39 Brazil Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 40 Mexico Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 41 Rest of Latin America Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 42 GCC Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 43 Africa Insurance Fraud Detection Market (US$ Million), 2021 - 2031
Figure 44 Rest of Middle East and Africa Insurance Fraud Detection Market (US$ Million), 2021 - 2031

List of Tables
Table 1 Global Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 2 Global Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 3 Global Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 4 Global Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 5 Global Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 6 North America Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 7 North America Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 8 North America Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 9 North America Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 10 North America Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 11 U.S. Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 12 U.S. Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 13 U.S. Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 14 U.S. Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 15 U.S. Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 16 Canada Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 17 Canada Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 18 Canada Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 19 Canada Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 20 Canada Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 21 Rest of North America Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 22 Rest of North America Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 23 Rest of North America Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 24 Rest of North America Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 25 Rest of North America Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 26 UK and European Union Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 27 UK and European Union Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 28 UK and European Union Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 29 UK and European Union Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 30 UK and European Union Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 31 UK Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 32 UK Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 33 UK Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 34 UK Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 35 UK Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 36 Germany Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 37 Germany Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 38 Germany Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 39 Germany Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 40 Germany Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 41 Spain Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 42 Spain Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 43 Spain Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 44 Spain Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 45 Spain Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 46 Italy Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 47 Italy Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 48 Italy Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 49 Italy Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 50 Italy Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 51 France Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 52 France Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 53 France Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 54 France Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 55 France Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 56 Rest of Europe Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 57 Rest of Europe Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 58 Rest of Europe Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 59 Rest of Europe Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 60 Rest of Europe Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 61 Asia Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 62 Asia Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 63 Asia Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 64 Asia Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 65 Asia Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 66 China Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 67 China Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 68 China Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 69 China Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 70 China Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 71 Japan Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 72 Japan Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 73 Japan Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 74 Japan Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 75 Japan Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 76 India Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 77 India Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 78 India Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 79 India Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 80 India Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 81 Australia Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 82 Australia Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 83 Australia Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 84 Australia Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 85 Australia Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 86 South Korea Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 87 South Korea Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 88 South Korea Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 89 South Korea Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 90 South Korea Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 91 Latin America Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 92 Latin America Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 93 Latin America Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 94 Latin America Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 95 Latin America Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 96 Brazil Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 97 Brazil Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 98 Brazil Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 99 Brazil Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 100 Brazil Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 101 Mexico Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 102 Mexico Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 103 Mexico Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 104 Mexico Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 105 Mexico Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 106 Rest of Latin America Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 107 Rest of Latin America Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 108 Rest of Latin America Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 109 Rest of Latin America Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 110 Rest of Latin America Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 111 Middle East and Africa Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 112 Middle East and Africa Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 113 Middle East and Africa Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 114 Middle East and Africa Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 115 Middle East and Africa Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 116 GCC Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 117 GCC Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 118 GCC Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 119 GCC Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 120 GCC Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 121 Africa Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 122 Africa Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 123 Africa Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 124 Africa Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 125 Africa Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)
Table 126 Rest of Middle East and Africa Insurance Fraud Detection Market By Component, 2021-2031, USD (Million)
Table 127 Rest of Middle East and Africa Insurance Fraud Detection Market By Solution, 2021-2031, USD (Million)
Table 128 Rest of Middle East and Africa Insurance Fraud Detection Market By Deployment Mode, 2021-2031, USD (Million)
Table 129 Rest of Middle East and Africa Insurance Fraud Detection Market By Application, 2021-2031, USD (Million)
Table 130 Rest of Middle East and Africa Insurance Fraud Detection Market By End-use Vertical, 2021-2031, USD (Million)

Companies Mentioned

  • ACI Worldwide Inc
  • BAE Systems
  • Accenture
  • Experian Information Solutions Inc
  • Fair Isaac Corporation (FICO)
  • Fiserv Inc
  • FRISS
  • IBM Corporation
  • TransUnion
  • Kount Inc
  • LexisNexis Risk Solutions
  • Perceptiviti Data Solutions Pvt. Ltd
  • SAP SE
  • SAS Institute Inc
  • Simility Inc
  • Software AG
  • Uplexis

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