NJ New Jersey, USA -- (SBWIRE) -- 10/13/2022 -- The latest study released on the Global Insurance Fraud Detection Software Market by AMA Research evaluates market size, trend, and forecast to 2027. The Insurance Fraud Detection Software market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
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Key Players in This Report Include: Fraud.net (United States), ClearSale (Brazil), Crawford & Company (United States), Oracle Corporation (United States), Riskified (Israel), NICE Actimize (United States), Kount, Inc. (United States), Scout Case Management Software (United States), IBM (United States), FRISS Inc. (United States), Agnovi Corporation (Canada).
Definition:
Insurance fraud detection software provides an end-to-end solution for detecting, preventing, and managing both opportunistic and organized claims. It uses multiple techniques (automated business rules, embedded AI and machine learning methods, text mining, anomaly detection, and network link analysis) to automatically score millions of claims records in real-time or in batch. Growing fraud-related activities in the insurance sector are the major factor driving the market growth. North America holds the largest market share of the global insurance fraud detection software market.
Market Drivers:
Growing Demand for Cybersecurity
The Increasing Number of Fraudulent Auto Claims
Market Trends:
Growing Demand Integration of Technologies Such As AI, Mining Text, Machine Learning
An Upsurge of Technology and Rising Digitization
Market Opportunities:
Growing Complexity in Individual or Organized Crime Is a Major Concern for Many Insurance Companies
Adoption of Automation in the Insurance Industry
The Global Insurance Fraud Detection Software Market segments and Market Data Break Down are illuminated below:
by Type (Fraud Analytics, Authentication, Other), Application (Life Insurance, Health Care Insurance, Automobile Insurance, Property Insurance, Others), Technology (Artificial Intelligence (AI), Internet Of Things (IoT), Blockchain, Anomaly Detection And Network Link Analysis, Others), End-User (Insurance Providers, Agents & Brokers, Insurance Intermediaries, Others), Deployment (On-premise, Cloud-based), Component (Solution, Service)
Global Insurance Fraud Detection Software market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to helps the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.
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On 8th December 2021, Crawford & Company launches the Crawford Intelligent Fraud Detection solution. This new solution combines human expertise and forensic analysis, utilizing DXC Luxoft's Financial Crimes Intelligence technology with IBM to further enhance how it detects and manages fraudulent claims for its clients.
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
North America (United States, Mexico & Canada)
South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Objectives of the Report
-To carefully analyze and forecast the size of the Insurance Fraud Detection Software market by value and volume.
-To estimate the market shares of major segments of the Insurance Fraud Detection Software
-To showcase the development of the Insurance Fraud Detection Software market in different parts of the world.
-To analyze and study micro-markets in terms of their contributions to the Insurance Fraud Detection Software market, their prospects, and individual growth trends.
-To offer precise and useful details about factors affecting the growth of the Insurance Fraud Detection Software
-To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Insurance Fraud Detection Software market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
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Major highlights from Table of Contents:
Insurance Fraud Detection Software Market Study Coverage:
It includes major manufacturers, emerging player's growth story, and major business segments of Insurance Fraud Detection Software market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
Insurance Fraud Detection Software Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
Insurance Fraud Detection Software Market Production by Region Insurance Fraud Detection Software Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
Key Points Covered in Insurance Fraud Detection Software Market Report:
Insurance Fraud Detection Software Overview, Definition and Classification Market drivers and barriers
Insurance Fraud Detection Software Market Competition by Manufacturers
Impact Analysis of COVID-19 on Insurance Fraud Detection Software Market
Insurance Fraud Detection Software Capacity, Production, Revenue (Value) by Region (2021-2027)
Insurance Fraud Detection Software Supply (Production), Consumption, Export, Import by Region (2021-2027)
Insurance Fraud Detection Software Production, Revenue (Value), Price Trend by Type {Fraud Analytics, Authentication, Other}
Insurance Fraud Detection Software Market Analysis by Application {Life Insurance, Health Care Insurance, Automobile Insurance, Property Insurance, Others}
Insurance Fraud Detection Software Manufacturers Profiles/Analysis Insurance Fraud Detection Software Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.
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Key questions answered
How feasible is Insurance Fraud Detection Software market for long-term investment?
What are influencing factors driving the demand for Insurance Fraud Detection Software near future?
What is the impact analysis of various factors in the Global Insurance Fraud Detection Software market growth?
What are the recent trends in the regional market and how successful they are?
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.