ForMotiv’s Double-Edged Sword Can Benefit Carriers in More Ways than One
iPipeline – a leading provider of cloud-based software solutions for the life insurance and financial services industry – announced an exclusive OEM partnership with ForMotiv. ForMotiv is creator of the first Digital Behavioral Intelligence (DBI) platform for the life insurance and financial services industry. Effective immediately, ForMotiv is available to carriers using iGO e-App, the most broadly used wizard-based life insurance e-application in North America.
iPipeline today announced an exclusive OEM partnership with ForMotiv, creator of the first Digital Behavioral Intelligence Platform (DBI) for life insurance and financial services.
ForMotiv’s predictive analytics will be used to highlight negative behaviors throughout the new business application process that resemble known fraudulent activities. ForMotiv monitors fraudulent activities that are unique to each carrier, based on their specific historical data. ForMotiv also provides insight into positive behaviors, enabling carriers to digitally see what agent efficiency, speed, and overall excellence look like.
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“We are clearly breaking new ground here with ForMotiv. The power of ForMotiv is in its ability to create a unique set of risk action profiles, based on ForMotiv’s proprietary behavioral collection and analysis technology, and to then implement them to monitor behaviors throughout the entire new business processing lifecycle,” said Larry Berran, CEO, iPipeline. “We also see ForMotiv having a beneficial impact on identifying exemplary agent behaviors which are resulting in increased processing speed, higher efficiency, and faster policy placements. It’s a double-edged sword that can transform business outcomes by leveraging behavioral intelligence.”
“We have gone to great lengths to create a behavioral intelligence platform with the flexibility to meet the varying needs of all carriers. Based on each customer’s objectives, we can create a digital snapshot of what both negative and positive behaviors look like,” said Bill Conners, President, ForMotiv. “Business has shifted even more to online in the Covid-19 environment, and with that shift came an increase in risk. With our product, carriers can better manage that risk by understanding behavioral patterns and predicting fraudulent intent. We are also confident in our ability to identity the behavior of superstar agents who define excellence in accelerated task execution and selling to improve the bottom line.”
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