2009 Consumer Identity Protection Services Scorecard: Competition Intensifies as Vendors Aggressively Expand Offerings
Published By: Javelin Strategy & Research
May 2009
R3424-87
Online Download $2,000.00
Description
In December 2007, Javelin released a comprehensive industry
research report introducing the identity fraud protection services space, which had just begun to see tremendous expansion, development and curiosity from other institutions with a vested interest in consumer security. This year’s report provides an update to this rapidly growing market, covering the latest trends in identity protection services, new accounts fraud, and consumer perceptions regarding the wide variety of protection products available. Aside from highlighting consumer satisfaction levels and effectiveness ratings of the primary categories of services (credit monitoring, fraud alerts, personal information monitoring and credit freezes), the report also provides detailed coverage of vendor-specific solutions, as well as a scorecard that examines the features and benefits of the wide variety of products currently available. The vendor analysis of over 20 service offerings includes several returning players, as well as some newer companies and firms that had not been addressed previously. Companies evaluated include Affinion Security Center, Debix, Experian, EZShield, FraudStop, Identity Force, Identity Guard, Identity Secure, Identity Sweep, IdentityTruth, IDWatchDog, Intelius, Intersections, LifeLock, TrustedID, Truston, and financial institutions with their own branded ID theft protection products, among several others. Actionable recommendations are directed toward vendors, financial institutions and consumers.
Primary Questions
- What key changes have occurred in this rapidly shifting market landscape of consumer fraud protection solutions?
- To what extent are consumers being impacted by new accounts fraud, which identity protection services are designed to protect?
- How does the usage of ID protection services break down among U.S. adults, by service category?
- Which services do consumers perceive as being the most effective in protection, and how do fraud incidence rates differ for consumers who subscribe to ID protection services compared with those who do not?
- Which vendors have managed to sustain a leading edge over their competitors?
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Table of Contents
- Overview
- Primary Questions
- Findings and Analysis
- Vendor Scorecard
- Methodology
- ID Protection Services Market Sizing
- Top Six Trends to Watch in ID Protection Services
- The Future of Fraud Alerts: Are Vendor-Provided Fraud Alerts Subscriptions in Jeopardy?
- Customer Retention Rates
- Recommendations
- Consumers
- Vendors
- Financial Institutions
- Consumer Cost for New Accounts Fraud Shifts From Consumer to Industry in 2008
- Fraudulent New Credit Card Accounts Increase Over 2007 Levels
- Identity Fraud and Consumer Fraud Protection Services: A Review
- Consumers Rate Fraud Alerts as Most Effective in ID Theft Protection
- Should Identity Protection Service Vendors Consider Including Anti-Virus Protection?
- Personal Information and Credit Monitoring Users Rank Most Satisfied
- Case in Point - No Solution is 100% Guaranteed to Stop Identity Fraud
- Identity Protection Services Overview
- Fraud Alerts Subscriptions: Vendor Overview
- Hybrid Services Vendor Overview
- Personal Information Monitoring: Vendor Overview
- Resolution-Oriented Services: Vendor Overview
- Child Identity Fraud Protection
- ID Protection Services Scorecard
- Guide to the Ratings
- Personal Information Services Monitoring Now Widely Offered Among Vendors
- Fraud Alert Hybrid Services Providers are covering More Ground With Comprehensive Protection
- Credit Monitoring Services Continue to Dominate FIs’ ID Protection Offerings
- Appendix
- Related Research
- Companies Mentioned
- Table of Figures
- Figure 1: Consumer Adoption: With Crossover
- Figure 2: Millions of U.S. Adult Users: With Crossover
- Figure 3: Millions of U.S. Adult Users: Decoupled From Credit Monitoring
- Figure 4: Identity Theft Victimization Rates
- Figure 5: Comparisons of Incidence Rates and Average Fraud Amounts, 2007 to 2008
- Figure 6: New Accounts Fraud Types
- Figure 7: Definitions of ID Theft, ID Fraud, and Consumer Fraud Protection Solutions
- Figure 8: Consumer Perceptions of Effectiveness, by Product Type
- Figure 9: Consumer Ranking of Service Effectiveness Including Anti-Virus
- Figure 10: User Satisfaction Ratings, by Product Type
- Figure 11: Consumer Satisfaction Ranking for Identity Protection Services
- Figure 12: Percentage of Fraud Victims Victimized While Enrolled in an ID Protection Service
- Figure 13: Fraud Alerts Subscriptions: Vendor Overview
- Figure 14: Hybrid Services: Vendor Overview
- Figure 15: Personal Information Monitoring Services
- Figure 16: MyTruston Features
- Figure 17: Screenshot of Experian Family Secure
- Figure 18: Vendors of Child Identity Fraud Protection Services
- Figure 19: Product Category: Personal Information Monitoring Services Ratings
- Figure 20: Product Category: Fraud Alert Hybrid Services Ratings
- Figure 21: Product Category: Credit Monitoring Branded as ID Theft Protection Service Ratings
- Figure 22: Identity Protection Services Vendors: Overall Comparison
- Figure 23: Actions Taken as a Result of Identity Fraud Victimization
- Figure 24: Victims’ Most Frequently Breached Personally Identifying Information
- Figure 25: Victims’ Rate of Medical Identity Theft
- Figure 26: How Consumers Last Viewed Their Credit Reports
- Figure 27: Victims’ Interactions to Resolve Identity Fraud
- Figure 28: Consumer Security Preferences
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