Global Insurance Claim Investigation Market Overview:
Insurance Claims Investigation helps in evaluating the legitimacy of a claim. This service helps the claims adjuster to how to properly handle claims. Inappropriately Claims Investigations are required because, although many claims are genuine, there are some of them are not. Accordingly, these illegitimate claims predictably cost around USD 80 billion every year across the insurance industry. There are various types of insurance claim investigation services are that drive huge demand in this industry. Some of the players profiled in the study are Corporate Investigative Services, Inc. (United States), Lowers & Associates (United States), PJS Investigations Pty Ltd. (Australia), CoventBridge Group (United States), Robertson&Co (United Kingdom), ICORP Investigations (United States), Brumell Group (United States), John Cutter Investigations (United States), UKPI (United Kingdom) and Kelmar Global (United States).
On the basis of geography, the market of Insurance Claim Investigation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Services, the sub-segment i.e. Preliminary Record Searches will boost the Insurance Claim Investigation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Claims, the sub-segment i.e. Asbestos Claims will boost the Insurance Claim Investigation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- The Rise in Occurrences of Fraud in the Insurance Industry
- Development in the Insurance Industry
- High Movement Towards Digitization
- Continuous Development in Technology
- Increase in Market Competencies
- High Cost Associated with Insurance Claim Investigation Services
- Increase Investment from Government Projects
- The Rise in Investment in Organic Growth Strategies
- Lack of Consumer Awareness
Key Market Developments:
In Jan 2020, EMC Insurance Companies announced a collaboration with FRISS for fraud detection solutions in the insurance industry. Through this partnership, they reduce insurance fraud and further increase profitability. By this initiative, the company enhances its offering across the globe.
The market is fragmented by key leading players who are focusing on production technologies, improving efficiency, and service life. There are numerous growth opportunities in the market that can be captured by tracking the ongoing process improvement and financial flexibility by funding in optimal business strategies.
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Insurance Claim Investigation Providers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Insurance Claim Investigation market on the basis of product [Health Insurance Investigation, Car Insurance Investigation, Home Insurance Investigation, Life Insurance Investigation and Others] , application [Large Insurance Companies and Medium and Small Insurance Companies], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Insurance Claim Investigation market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Insurance Claim Investigation industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are The Cotswold Group (United Kingdom), Tacit Investigations & Security (Canada) and CSI Investigators Inc. (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Insurance Claim Investigation market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.