Abstract
Overview
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?
Methodology
This report contains data collected online from several Javelin surveys that
targeted respondents based on representative proportions of gender, age and
income compared to the overall U.S. online population:
- A random-sample panel of 2,714 respondents in March 2008. The overall
margin of sampling error is ±1.88 percentage points at the 95%
confidence level.
- A random-sample panel of 2,339 respondents in September 2008. The overall
margin of sampling error is ±2.03 percentage points at the 95%
confidence level.
- This report is also based on data collected through a telephone survey of
4,784 respondents in October 2008. Overall margin of sampling error is
±.81 percentage points at the 95% confidence level.
This report was also based on Web site reviews and mystery-shop phone calls
with customer service representatives, with each vendor being covered by a
minimum of three reviews by three different associates. Answers were weighted
and then subtotaled per section. Ratings were assigned based on the total
overall weighted scores obtained by the vendors. The total points available
for services equaled 13, for resolution equaled 8 and for support 8. Two
points were subtracted if the business was not BBB-accredited.
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