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Insurance Analytics for the Digital Transformation

Insurance analytics solutions from ForMotiv measure the real-time "Digital Body Language" of how customers and agents engage with insurance applications and then generate an "Intent Score" in real-time to help carriers understand the motives of their users and dynamically react based on user behavior.
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Measure Behavior.
Predict Intent.

ForMotiv measures the real-time "Digital Body Language" of how customers and agents engage with insurance applications and then generates an "Intent Score" to help carriers understand the motives of their users.
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Predictive Analytics for Insurers: Increase Revenue

Increase Good Conversions

ForMotiv analyzes user behavior in real-time and uses advanced machine learning to predict user intent. Instant behavioral data analysis allows carriers to dynamically react based on user intent.

  • Form friction/bottleneck analysis
  • Predict abandonment
  • Predict quote to bind
  • Predict customer channel preference (call/digital complete)
  • Predict customers eligible for accelerated underwriting

Optimize Remarketing for Abandoned Applicants

  • Adjust remarketing intensity towards high-intent buyers
  • Adjust remarketing messaging based on buyer’s behavioral persona

Application Optimization for Customers and Agents

  • After analyzing the applicant flow, ForMotiv will provide explanation-based A/B recommendations on how to better optimize your application for better user experiences and increased conversions.

Dynamic Engagement

  • ForMotiv’s insurance analytics solutions enable carriers to dynamically engage with users as they are on your forms with FAQ help, Live Chat, and Special Offers for genuine customers.
  • In addition, ForMotiv enables carriers to dynamically add friction for high-risk customers and Bots.
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Predictive Analytics for Insurers: Risk and Fraud Solutions

Decrease Bad Conversions to Reduce Risk and Fraud

  • Identify window shoppers
  • Identify bots & malicious attempts
  • Identify application corrections/manipulation
  • Predict delinquency
  • Predict high-risk applicants
  • Predict medical non-disclosure
  • Predict fraud
  • Predict customers who need further qualification and should not go through accelerated underwriting

Real-Time Risk Alerts & Dynamic Security

ForMotiv’s “Intelligence Engine” gives customers the ability to integrate with ForMotiv’s MLOps engine to pull real-time signals of any desired behavior. This allows for Dynamic Customer Experiences to help customers add or remove friction based on user behavior. 

  • Signal when customers manipulate application questions such as medical forms
  • Signal when agents change answers on customer applications
  • Dynamically add friction to potentially high-risk customers 
  • Dynamically remove friction for genuine customers 
  • Dynamically nudge customers towards desired actions while they are engaging with the application

Predictive Analytics for Insurers: Understand Agent Behavior

Enhance the Agent Experience

  • Understand agent behavior to improve throughput 
  • Enhance agent training with behavioral insights
  • Uncover bottlenecks & friction points for agents
  • Uncover confused agents before product and quality deteriorate 
  • Increase agent conversion rates
  • Provide agents with behavioral insight resulting in higher focus on high win-back customers
  • Reduce manual review expense ratio

Reduce Agent Risk and Uncover Agent “Gaming”
“Trust, but verify.” ForMotiv “Forensics” provides a full audit trail for carriers that leverage shared producer-customer e-apps. Gain insight into your agent behavior and spot situations where agents are improperly acting in their own best interest.

  • Identify high-risk agent behavior
  • Identify agent “gaming”
  • Improve agent loss ratio by weeding out early high-risk behavior

Agent Performance & Benchmarking
Learn which agents and MGAs are your most efficient and profitable. Why do others not work as efficiently? How much time do they spend per page and application? And how often do they abandon or “save and exit?”

  • Identify high-risk agent behavior
  • Identify agent “gaming”
  • Improve agent loss ratio by weeding out early high-risk behavior

Improve Data Integrity

Customers and agents can make errors in data entry either accidentally or as part of an effort to manipulate and misrepresent the risk.

Poor data quality results in unintended cross-subsidies, impaired profitability and under-performing predictive models.

By observing an individual’s behavior when interacting with systems, erroneous or untruthful interactions can be identified and acted upon in real-time.

  • Predict accidental or intentional errors in data entry 
  • Enhance data quality to reduce unintended cross-subsidies, impaired profitability, and under-performing predictive models
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Example Use Cases for Insurance Analytics

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Life Insurance Analytics

Reflexive e-med questions typically see the highest rates of application manipulation. Example: when an applicant notices supplemental questions due to a previous response, they will change their original answer to get through the app faster or appear better on paper than they are in reality. ForMotiv will notify you of such behavior as it is happening

behavior-as-a-service
Property & Casualty Analytics

Each industry represents distinct behaviors that indicate levels of risky behavior. One ForMotiv customer is notified when an end-user submits an application to receive an estimated quote, then uses the browser back button to change their answer for their previously insured carrier to receive a better rate.

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Claims Analytics

Understand if a customer or agent is manipulating claims information. Behaviors such as re-uploading pictures, changing answers, and other potential risk signals, when combined, can indicate an increased level of risk. ForMotiv alerts you in real-time if a user passes the risk threshold.

Ready to unlock Digital Behavioral Intelligence?

Easy to Integrate. Easy to Use. Totally Safe & Secure.

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Easy Integration

ForMotiv’s JS Snippet embeds inside of your Tag Manager, directly in your website, or through our API and instantly begins tracking form inputs.

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Easy to Use

24/7 access to the ForMotiv portal gives your team real-time data analytics on each individual applicant. Drill down on specific applications, questions, and user actions.

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Zero PII Required

Your data is totally secure as ForMotiv requires zero Personal Identifiable Information (PII).

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Own Your Data

Your data is just that, yours. ForMotiv provides you access to all of the raw data collected. No customer or outcome information is used with other customers.

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