“I see dozens of companies a week and only with ForMotiv have I seen true industry-defining technology. The underlying platform of DBI applies to a myriad of use cases in the fraud and security space.”
ForMotiv engaged with the Distribution team at a publicly-traded Property and Casualty Insurer with a large captive agent base in Q1 2020. Prior to the launch of ForMotiv’s Behavioral Intelligence solution, the carrier was essentially blind to agent behavior. Their agent support and underwriting teams spent 10,000+ hours conducting manual reviews of policies. This caused high loss-ratios amongst their least profitable agents and millions in operational costs resolving issues.
Using ForMotiv, the client was looking to accomplish 3 goals:
- Mitigate misrepresentation by agents
- Reduce manual reviews by agent support team
- Understand loss-ratio and agent efficiency by behaviors
Both teams met to review key metrics and outcomes for the first six months of the engagement. Both sides decided the client should follow the ForMotiv Operational Model which is Collect, Detect, Predict.
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