Market Overview:
The global identity theft insurance market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The market growth is attributed to the increasing incidence of identity theft and the subsequent need for insurance coverage against such losses. Additionally, the growing awareness about the availability of identity theft insurance policies among consumers is also propelling the growth of this market. The credit card fraud segment accounted for the majority share of the global identity theft insurance market in 2017 and is projected to maintain its dominance during the forecast period. This can be attributed to increasing instances of credit card fraud across different regions worldwide.
Product Definition:
Identity theft insurance is a type of insurance that helps protect individuals from the potential financial and legal consequences of identity theft. The importance of identity theft insurance lies in the fact that it can help victims recover from the negative effects of identity theft, including lost money, time, and energy.
Credit Card Fraud:
Credit card fraud is a crime in which the perpetrator uses another person's credit card information to buy items. The most common type of fraud involves skimmed or stolen credit cards, where the numbers on the magnetic strip are swiped for payment. Credit card fraud can also be committed through cloned cards and emulated plastic.
Employment or Tax-Related Fraud:
Employment or tax-related fraud is a term used to define fraudulent conduct in an employment relationship, which includes actions such as defrauding the employer of money or property by means of false statements, concealment of facts, embezzlement, theft and extortion. Employment or tax-related fraud involves three elements: (1) conduct; (2) intent; and (3) harm. The element “conduct” refers to the actual behavior that constitutes the violation.
Application Insights:
The consumer segment held the largest share of over 70.0% in 2017. The growing use of digital channels and rising awareness about online transactions are leading to an increase in identity theft cases among consumers. According to a study conducted by Javelin Strategy & Research, Inc., nearly 50 million U.S. adults have been affected by IDT at least once during the past three years and losses incurred due to such frauds were more than USD 40 billion in 2015, increasing with rising number of such cases globally as well as across all age groups and income levels since 2014 when compared with 2013 data (USD 35 billion).
Regional Analysis:
North America held the largest share in 2017 owing to high incidence of identity theft and data breaches. The U.S. is one of the most targeted countries globally for identity theft, with more than 90% of incidents occurring there according to Javelin Strategy & Research Inc.
Europe was the second-largest region followed by Asia Pacific that accounted for over 25% each in 2017 due to increased awareness about protection measures taken by governments and private organizations against ID theft coupled with rising adoption rate for global insurance policies offered by various companies operating across these regions.
Growth Factors:
- Increasing awareness about the risks of identity theft and data breaches, which is driving demand for identity theft insurance products.
- The increasing use of technology and digital devices, which is making it easier for criminals to steal personal information.
- The growing number of online transactions, which are creating more opportunities for criminals to steal personal information.
- The increasing number of data breaches, which is exposing more people to the risk of identity theft.
- The rising cost of recovering from a data breach or identity theft incident, which is motivating more people to buy insurance coverage against these risks
Scope Of The Report
Report Attributes
Report Details
Report Title
Identity Theft Insurance Market Research Report
By Type
Credit Card Fraud, Employment or Tax-Related Fraud, Phone or Utility Fraud, Bank Fraud
By Application
Consumer, Enterprise
By Companies
Erie, Allstate, American Family, Hanover, Liberty Mutual, MetLife, Nationwide, State Farm, Travelers, USAA, Esurance, GEICO, AXA, Allianz
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
121
Number of Tables & Figures
85
Customization Available
Yes, the report can be customized as per your need.
Global Identity Theft Insurance Market Report Segments:
The global Identity Theft Insurance market is segmented on the basis of:
Types
Credit Card Fraud, Employment or Tax-Related Fraud, Phone or Utility Fraud, Bank Fraud
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Consumer, Enterprise
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Erie
- Allstate
- American Family
- Hanover
- Liberty Mutual
- MetLife
- Nationwide
- State Farm
- Travelers
- USAA
- Esurance
- GEICO
- AXA
- Allianz
Highlights of The Identity Theft Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Credit Card Fraud
- Employment or Tax-Related Fraud
- Phone or Utility Fraud
- Bank Fraud
- By Application:
- Consumer
- Enterprise
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Identity Theft Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Identity theft insurance is a policy that provides financial protection in the event that your personal information is stolen and used without your permission. This type of coverage can help cover costs associated with restoring your credit score, replacing lost income, and other related expenses.
Some of the key players operating in the identity theft insurance market are Erie, Allstate, American Family, Hanover, Liberty Mutual, MetLife, Nationwide, State Farm, Travelers, USAA, Esurance, GEICO, AXA, Allianz.
The identity theft insurance market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Identity Theft Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Identity Theft Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Identity Theft Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Identity Theft Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Identity Theft Insurance Market Size & Forecast, 2020-2028
4.5.1 Identity Theft Insurance Market Size and Y-o-Y Growth
4.5.2 Identity Theft Insurance Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Credit Card Fraud
5.2.2 Employment or Tax-Related Fraud
5.2.3 Phone or Utility Fraud
5.2.4 Bank Fraud
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Consumer
6.2.2 Enterprise
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Identity Theft Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Identity Theft Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Credit Card Fraud
9.6.2 Employment or Tax-Related Fraud
9.6.3 Phone or Utility Fraud
9.6.4 Bank Fraud
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Consumer
9.10.2 Enterprise
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Credit Card Fraud
10.6.2 Employment or Tax-Related Fraud
10.6.3 Phone or Utility Fraud
10.6.4 Bank Fraud
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Consumer
10.10.2 Enterprise
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Credit Card Fraud
11.6.2 Employment or Tax-Related Fraud
11.6.3 Phone or Utility Fraud
11.6.4 Bank Fraud
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Consumer
11.10.2 Enterprise
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Credit Card Fraud
12.6.2 Employment or Tax-Related Fraud
12.6.3 Phone or Utility Fraud
12.6.4 Bank Fraud
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Consumer
12.10.2 Enterprise
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Credit Card Fraud
13.6.2 Employment or Tax-Related Fraud
13.6.3 Phone or Utility Fraud
13.6.4 Bank Fraud
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Consumer
13.10.2 Enterprise
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Identity Theft Insurance Market: Competitive Dashboard
14.2 Global Identity Theft Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Erie
14.3.2 Allstate
14.3.3 American Family
14.3.4 Hanover
14.3.5 Liberty Mutual
14.3.6 MetLife
14.3.7 Nationwide
14.3.8 State Farm
14.3.9 Travelers
14.3.10 USAA
14.3.11 Esurance
14.3.12 GEICO
14.3.13 AXA
14.3.14 Allianz
