Insurance Analytics Market Size 2023 - Global Growth, Share and Report Analysis - Digital Journal

There is an increase in the adoption of insurance analytics in large and medium-sized organizations to prevent internal frauds, rate evasions, and underwriting and cybersecurity fraud committed by applicants, policyholders, third-party claimants, and professionals. This currently represents one of the major factors strengthening the market growth around the world. In line with this, the expanding number of cyber-attacks and anonymous security threats is bolstering the growth of the market. Moreover, the rising occurrence of insurance frauds like insurance padding, inflated claims, staged accidents, and submission of inaccurate information evidence across numerous industries is favoring the market growth. Along with this, due to a considerable rise in data generation in the insurance industry, there is an increase in the adoption of analytic solutions worldwide.