Insurance Fraud Detection Market Size, Share, Growth, Trends and Forecast 2027

The latest research study “Insurance Fraud Detection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” provides a comprehensive analysis of the industry that provides insights into the market size for insurance fraud detection

Insurance Fraud Detection refers to various software-based solutions used to identify, detect, investigate and stop fraudulent activity related to property and insurance. It works through statistical interpretation with the support of machine learning (ML), artificial intelligence (AI) and traditional rules-based fraud analysis models. It is mainly used to analyze identity theft, payment fraud, false claims and cyber attacks.

report metrics

Historical: 2016-2021

Base year: 2020

Forecast year: 2022-2027

As the novel coronavirus (COVID-19) crisis sweeps the world, we continuously monitor the changes in the markets as well as the industry behavior of consumers worldwide and our estimates on the latest market trends and forecasts are made after considering the impact of this pandemic.

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Insurance Fraud Detection Market Trends:

The widespread use of insurance fraud detection in various industries such as automotive, retail, hospitality, healthcare, and bank finance services and insurance (BFSI) for authentication and risk compliance is one of the key drivers of market growth. In addition, the increasing instances of inaccurate claims, kidnappings, deaths, and falsified medical records have increased the need for effective insurance fraud detection solutions. Apart from that, the integration with the Internet of Things (IoT) and Artificial Intelligence (AI) for operation, screening and mining of images and business rules is driving the market growth.

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Analysis and Segmentation of Insurance Fraud Detection Market 2022-2027:

Competitive landscape:

The competitive landscape of the market has been studied in the report that provides the detailed profiles of the major market players.

ACI Worldwide Inc, BAE Systems plc, Equifax Inc., Experian plc, Fair Isaac Corporation, Fiserv Inc., FRISS, International Business Machines Corporation, Lexisnexis Risk Solutions Inc. (RELX Group plc), SAP SE, SAS Institute Inc. and Software Inc.

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The report has segmented the market by type, deployment, application, and industry.

Breakdown by component:


Breakdown by Deployment Model:

cloud based
On the premises

Breakdown by company size:

Small and medium-sized companies
Large companies

Separation by application:

claims fraud
identity theft
Payment and Billing Fraud
money laundering

Separation by end users:

insurance companies
agents and brokers
insurance intermediary

Breakdown by region:

North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, others)
Europe: (Germany, France, UK, Italy, Spain, Russia, others)
Latin America: (Brazil, Mexico, others)
Middle East and Africa

Key highlights of the report:

Market performance (2016-2021)
Market Outlook (2022-2027)
Porter’s Five Forces Analysis
Market drivers and success factors
SWOT analysis
value chain
Comprehensive mapping of the competitive landscape
If you require specific information that is not currently in the scope of the report, we can provide it as part of the customization.

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