ForMotiv Welcomes Sean Parenti as the New Chief Data Officer!
ForMotiv, the leading Behavioral Data Science platform, is proud to announce the arrival of our new Chief Data Officer, Sean Parenti! We couldn’t be happier to bring a seasoned industry veteran to help lead us into the next phase of data science & platform growth. With a run rate of +400mm applications processed this year, it’s no small task for Sean, but we’re incredibly confident in his ability to help us keep up with our scaling demands.
“I have been around the InsurTech space for a long time and the behavioral data science platform that ForMotiv is building has the potential to change the industry. I look forward to working with their impressive team and helping them take their capabilities to the next level.” – Sean Parenti, Chief Data Officer for ForMotiv.
Sean brings nearly 20 years’ worth of experience from the financial services industry covering banking and insurance, both P&C and L&H, at companies including Plymouth Rock and Swiss Re. He has been a key driver in several startups, building data science capabilities from the ground up and shepherding one through acquisition. He has a degree in Economics from Boston University with a focus on Behavioral Economics.
“Sean is the perfect fit to continue the innovation of ForMotiv’s industry-leading Behavioral Data Science product and help build on our momentum and exciting growth trajectory. He has a unique blend of leadership experience with deep expertise in the insurance industry and machine learning space. We could not be more thrilled to add Sean to our team at ForMotiv,” says Bill Conners, CEO at ForMotiv.
If you’re not familiar with ForMotiv, we’re a behavioral science platform purpose-built for legacy carriers and InsurTech companies alike to accurately predict user intent, in real-time. ForMotiv collects unique behavioral features such as mouse movements, hesitation, copy/paste, corrections, keystrokes, time spent, and nearly 200 additional features, resulting in 10,000s of raw digital behavioral data points per application. The solution works by reading this “digital body language” and predicting, in real-time, end-user intent or motivation. Carriers are using ForMotiv’s dataset and platform to understand if applicants are confused, frustrated, high-intent purchases or window shoppers, high-risk or fraudulent, likely to file a claim, and much much more. In addition, ForMotiv’s real-time intent engine and Smart App system enable carriers to identify important “micro-moments” and intuitively adapt the experience to drive more profitable conversions while triaging risky applications.