R&M Issues Report on Credit Monitoring, Identity Fraud

Dublin-based Research and Markets announced the addition of a report on “Credit Monitoring and Identity Fraud Insurance: What Do Consumers Need, and How Should It Be Offered?” to their offering.

“This report analyzes the security, marketing, and relationship implications for two services that mitigate the impact of identity fraud: credit monitoring and identity fraud insurance,” said the announcement. “Designed to help US financial executives determine if, when and how they should offer these services, this report identifies the tangible and intangible impact of credit monitoring and insurance to financial institutions and their customers.”

R&M said the study examines the following “Key Questions:”

– What are the costs, benefits or risks of offering these services?
– What are the exact costs and benefits (tangible and intangible) to consumers?
– Is there an ideal audience segment?
– Which services offer the greatest value?
– What are the market prices and packaging-bundles?
– What leading U.S. banks offer these services today?
– What should financial executives do now and in the future?

“Banks and card issuers should begin offering credit monitoring and insurance to augment their other safety-oriented services, especially as a way to protect against fraud in new and dormant existing accounts,” said R&M. “Any offering should be one leg of a multilevel strategy to use the financial institution’s strong and trusted position to educate and provision their customers to actually prevent or detect identity fraud. Identity fraud insurance, as a component of credit monitoring services, does have value to obviate consumer fears and to protect against the one out of a thousand chance of a large dollar out-of-pocket loss.”

For more information go to: http://www.researchandmarkets.com/reports/c16018; or contact Laura Wood, senior manager, Research and Markets, Fax: +353-1-4100-980, press@researchandmarkets.com.