North America Insurance Fraud Detection Market By Component (Solution and Services) By Organization Size (Large Enterprises and Small & Medium Enterprises)
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The North America Insurance Fraud Detection Market would witness market growth of 25.2% CAGR during the forecast period (2019-2025).
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.
Based on Component, the market is segmented into Solution and Services. Solution segment is further segmented into Fraud Analytics, Authentication, Governance, and Risk, Compliance and others. Authentication solution segment is bifurcated into Multi Factor Authentication, Single Factor Authentication and Risk-Based Authentication. Services segment is segmented into Integration Consulting Services, Training Education, and Support Maintenance. Based on Organization Size, the market is segmented into Large Enterprises and Small Medium Enterprises. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Fair Issac Corporation (FICO), SAP SE, PayPal Holdings, Inc., BAE Systems PLC, RELX PLC, Fiserv, Inc., Software AG, ACI Worldwide, Inc. and TransUnion LLC.
Scope of the Insurance Fraud Detection Market Analysis
Market Segmentation: By Component
- Fraud Analytics
- Multi Factor Authentication
- Single Factor Authentication
- Risk-Based Authentication
- Governance, Risk, Compliance
- Integration Consulting Services
- Training Education
- Support Maintenance
By Organization Size
- Large Enterprises
- Small Medium Enterprises
- Rest of North America
- IBM Corporation
- Fair Issac corporation (FICO)
- SAP SE
- PayPal Holdings, Inc.
- BAE Systems PLC
- RELX PLC
- Fiserv, Inc.
- Software AG
- ACI Worldwide, Inc.
- TransUnion LLC
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