Monday, May 29, 2023
  • About Us
  • Contact Us
KsaWeekly.com
  • News
  • Business
  • Finance
  • Technology
  • Lifestyle
  • Middle East
  • Press Release
Submit a News Release
No Result
View All Result
KsaWeekly.com
Submit PR
Home Press Release

Insurance Fraud Detection Market worth USD 7.9 billion by 2024 – Exclusive Report by MnM

Press Room by Press Room
September 2, 2022
in Press Release
Share on FacebookShare on Twitter


(EMAILWIRE.COM, September 02, 2022 ) Insurance Fraud Detection Market size is expected to grow from USD 2.5 billion in 2019 to USD 7.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 25.8% during the forecast period according to report published by MarketsandMarkets. The major aspects driving the market are the need to effectively manage huge volumes of identities by organizations; improving operational efficiency & enhancing the customer experience; increasing adoption of advanced analytics techniques; and stringent regulatory compliances. The insurance fraud detection market is growing drastically on account of the proliferation of cloud-based services in the insurance sector and increasing threats & frauds in this sector.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=139715396

Authentication solution segment to grow at the highest CAGR during the forecast period
The authentication technology refers to the process of verifying the identity of the users, devices, or systems. Authentication plays a crucial role in the insurance fraud detection market. Fraud authentication helps enterprises to protect customer identity from the fraudsters. While fraud analytics helps detect fraudulent activities and the possibilities of fraud incidents happening in the future, fraud authentication is more inclined toward the prevention of such cases. Fraud authentication helps enterprises maintain the credibility of transactions/information by blocking unauthorized access to the information or identifying false inputs from the users. Based on the use cases and complexity, authentication solutions can be categorized as Single-Factor Authentication (SFA), and Multi-Factor Authentication (MFA) and the increasing need for simple and less complex SFA and MFA authentication solutions will fuel the demand for authentication solutions.

Managed services to grow at the highest CAGR during the forecast period
An increase in the number of customers demanding for managed services across the globe is expected to result in higher growth of these services. Managed services, which include managing databases and collecting data, are outsourced to managed service providers (MSP). Managed security service providers (MSSPs) offer specialized security services to other companies. Managed Security Services (MSS) are available in many forms such as pure system management, sophisticated fraud investigators, on-premises device monitoring and management services, and cloud services. Since these services require attention regularly, it becomes difficult for insurance organizations to manage them along with their core business operations. As a result, these companies are rapidly outsourcing their insurance fraud detection services to specialized service providers known as MSSPs.

Request a Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=139715396

North America to account for the largest market size during the forecast period
The global insurance fraud detection market has been segmented based on regions into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America to provide a region-specific analysis in the report. North America, followed by Europe, is estimated to become the largest revenue-generating region for insurance fraud detection solution and service vendors in 2019. Trends such as the Internet of Things (IoT), cloud adoption, and Bring Your Own Device (BYOD); and growing internal & external threats are some of the key factors expected to fuel the growth of the market in North America.

The APAC market is gaining traction, as the number of smart devices and BYOD trend are increasing in the developed and developing nations in APAC. The SMEs, as well as large enterprises in APAC, are becoming increasingly aware of the rising instances claims fraud, identity thefts, payment frauds, and have now started adopting insurance fraud detection solutions and services to combat them.

Key Market Players
Major vendors that offer insurance fraud detection services across the globe are FICO (US), IBM (US), BAE Systems (UK), SAS Institute (US), Experian (Ireland), LexisNexis (US), iovation (US), FRISS (Netherlands), SAP (Germany), Fiserv (US), ACI Worldwide (US), Simility (US), Kount (US), Software AG (Germany), BRIDGEi2i Analytics Solutions (India), and Perceptiviti (India). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and acquisitions, to expand their offerings in the market.

Related Reports:
IoT Connectivity Market 2025 Emerging Trends | Challenges, Application Scope, Size, Status

Network Function Virtualization Market 2024 Trends, Growth | Share, Size, Revenue, Outlook

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441



Source link

Previous Post

Ciba Health establishes a subsidiary in the UAE to address the MENA market

Next Post

Think on it: Walnuts, Alzheimer’s Disease Progression and General Good Brain Health

RECOMMENDED NEWS

Silva Construction Offers Custom Bathroom Remodeling

Silva Construction Offers Custom Bathroom Remodeling

4 months ago
Dhabicoin 3.0 and Bluesea Watersports Unite Digital Assets and Tourism

Dhabicoin 3.0 and Bluesea Watersports Unite Digital Assets and Tourism

3 months ago

Pharmaceutical Manufacturing Equipment Market Set to Reach $19.7 Billion by 2028: Growth Projections and Industry Analysis

1 week ago
Firewood Market to reach USD 1355.3 Mn by 2029, emerging at a CAGR of 5.7 percent and forecast (2022-2029)

Firewood Market to reach USD 1355.3 Mn by 2029, emerging at a CAGR of 5.7 percent and forecast (2022-2029)

2 weeks ago

BROWSE BY CATEGORIES

  • Business
  • Finance
  • Lifestyle
  • Middle East
  • News
  • Press Release
  • Technology

POPULAR NEWS

  • ZainTech partners with LigaData to deliver data-driven digital services in MENA

    ZainTech partners with LigaData to deliver data-driven digital services in MENA

    0 shares
    Share 0 Tweet 0
  • IoT in Manufacturing Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2026

    0 shares
    Share 0 Tweet 0
  • تم إطلاق VOYAH FREE في أوروبا وتم افتتاح معرض VOYAH.

    0 shares
    Share 0 Tweet 0
  • Vidliz Expands Its Data-Driven Online Marketing Services in the Middle East

    0 shares
    Share 0 Tweet 0
  • Saudi Arabia’s NuqtahNFT and ConsenSys partner to empower Web 3 startups

    0 shares
    Share 0 Tweet 0

KSA Weekly™ publishes and aggregates business, socio-economic, Tech and industrial news on Saudi Arabia, Middle East and North Africa (MENA).

We provide press release distribution to media in the Kingdom of Saudi Arabia, the Arab world and the GCC/MENA regions. To send your press release, contact us today.

Recent News

Recent Posts
  • Saudi Arabia executes 2 Bahraini men over militant activities; Amnesty called trial 'grossly unfair' – ABC News
  • Saudi Arabia, UAE poised to lead region's $6bn gaming sector: report – Arab News
  • Paragon Developments and Adeer Holding join forces to establish new venture paragon Saudi Arabia for strategic real estate investments – ZAWYA
  • Saudi Arabia executes 2 Bahraini men over militant activities; Amnesty called trial 'grossly unfair' – Devdiscourse
  • 23 Things To Do In 2023 In Saudi Arabia | About Her – About Her

Category

News

Business

Finance

Technology

Lifestyle

Middle East

Press Releases

Subscribe to Our Newsletter

    KSA Weekly ™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC

    • About Us
    • Contact Us
    • Submit a Press Release
    No Result
    View All Result
    • News
    • Business
    • Finance
    • Technology
    • Lifestyle
    • Middle East
    • Press Release

    © 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.