“Our goal for 2022 is to drastically increase the number of applicants we’re accelerating. To date, we’ve been using almost exclusively demographic data to determine who to accelerate and who to send for medical reviews. ForMotiv’s real-time intent scoring allowed us to significantly widen the number of applications we were accelerating while simultaneously reducing our risk exposure. We’re very impressed.”
-Chief Underwriting Officer of Top 25 Life Carrier
Behavioral Features Captured Per Application
Micro-Expressions Captured Per Application
Average Risk Model Improvement
Accelerated underwriting requires real time decisions…but you can’t make real time decisions without real-time data.
ForMotiv’s intent scoring was purpose-built for real time decisioning, telling you which users to accelerate and which users to further qualify before they’re through the castle gates.
As companies continue moving their customer experiences online, providing a seamless, frictionless user experience without sacrificing risk and fraud is a challenge.
ForMotiv allows you to have your cake and eat it too. We use digital behavioral science to analyze user behavior and accurately predict whether it’s a risky or fraudulent application while the user is still in the application. Now as great as that is, the real magic of the ForMotiv platform is that we enable you dynamically and intuitively add or remove friction tailored to the individual user’s risk score. Imagine being able to triage a risky application before it’s approved instead of after…ForMotiv makes this possible.
Optimize Accelerated Underwriting
Consumer completed applications, accelerated underwriting, algorithmic underwriting – it doesn’t matter what you call it, the goal is the same…instant gratification for your digital customers.
But as carriers continue moving from manual to accelerated underwriting, knowing who to accelerate and who to further qualify can have a huge impact on your loss ratio. ForMotiv helps companies expand opportunities for accelerated underwriting and straight-through-processing by predicting user intent, in real-time, to add or remove friction accordingly.
Tobacco & Medical Nondisclosure
Did you know ~50% of digital applicants lie about their smoking status?
And is it really that surprising? As InsurTechs continue to tout fluidless underwriting and zero medical checks, wouldn’t you expect more people to fib on answers that will raise their premium? ForMotiv identifies users exhibiting signs of nondisclosure and allows carriers to instantly triage these applications before they are approved.
Create Dynamic Underwriting Experiences
The future of digital underwriting isn’t the same static experience for everyone, it’s actually quite the opposite. The future of digital underwriting is individualized, personalized, adaptive experiences that are tailored to the applicant to drive the most desirable experience.
Leading carriers are already doing this using ForMotiv. Want to see how? We thought you’d never ask…
Example Use Cases for Insurance Analytics
Marketing & CX
- Lead Scoring
- Remarketing Intelligence
- Dynamic Experiences
Risk & Fraud
- Real-Time Risk Scoring
- Predict Nondisclosure
- Bot Detection
- Accelerated Underwriting
- Intent Scoring
- Dynamic Friction
Easy to Integrate. Easy to Use. Totally Safe & Secure.
ForMotiv’s JS Snippet embeds inside of your Tag Manager, directly in your website, or through our API and instantly begins tracking form inputs.
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.
Zero PII Collected
Your data is totally secure as ForMotiv collects zero Personal Identifiable Information (PII).
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.