“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.”
Insurance agents are heavily incentivized to drive new premium. For example, in the life insurance industry, an agent’s commission can be over 100% of year 1 premium. As expected, such incentives result in agents taking liberties in specific areas of the application process. One part of the process that has changed dramatically since the introduction of technology in the insurance process is the e-signature page. The process goes something like this: the agent completes the application for the customer and emails it to them for a signature to bind the policy.
One of our customers, a Fortune 100 insurance carrier, had received a few suspicious e-signatures for policies that were approved. Unsure as to what was happening, our customer reached out to ForMotiv to review the agents’ behavioral analysis.