ForMotiv Launches First-Ever “Digital Polygraph” to Attack the $40B Insurance Fraud Market with AI-Driven “Digital Behavioral Intelligence”

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If you were walking through airport security and noticed the TSA agents had blindfolds on, how would you feel? Petrified, most likely. Intentionally ignoring someone’s behavioral cues, especially in a security setting, is ignorant and borderline reckless behavior - so why do companies continue to behave this way?

ForMotiv AI Digital Polygraph

ForMotiv's "Digital Polygraph" collects between 5,000-50,000 unique behavioral data points per application.

In the next few years, collecting and analyzing what we’ve coined as “Digital Behavioral Intelligence” will be as routine as installing Google Analytics.

ForMotiv, the first commercially available Digital Behavioral Intelligence (DBI) platform, today introduced its patent-pending “Digital Polygraph” technology to provide a level of previously unobtainable behavioral data on customers and employees. Using a combination of Artificial Intelligence, Machine Learning, and Predictive Behavioral Analytics, ForMotiv’s “Digital Polygraph” will finally allow organizations the ability to combat fraud in real-time by understanding their online user's motives and predicting their intent.

With customers continuing to demand seamless online experiences, businesses have been forced to shift from “Face-to-Face” to “Faceless” interactions. As the digital transformation continues to unfold, the innately human ability to understand intent by reading and reacting to body language has been lost. This shift leaves organizations vulnerable to increased risk from bad actors and fraudsters. Until now.

While the technology is complicated, the idea behind ForMotiv is simple...With the right kinds of intelligence about the actions and behaviors of users, organizations can deconstruct their user’s behaviors to obtain their root causes. This information not only allows them to understand the intentions, motivations, and plans of those end-users, but they can then predict the future actions that the users will take.

“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," said Bob Stasio, Managing Director at Dreamit Ventures.

ForMotiv’s “Digital Polygraph” collects between 5,000-50,000 behavioral data points on each individual application. Using supervised machine learning, ForMotiv analyzes behavioral signals, or "Digital Body Language," such as correcting answers, copying and pasting, hesitancy on certain questions, and hundreds of other behavioral features to determine an “intent score.” Using proprietary A.I. algorithms, ForMotiv arms organizations with actionable, explanation-based behavioral intelligence, enabling them to optimize their online experiences, predict outcomes such as risk & fraud, and create dynamic online experiences that add or reduce friction on a user-by-user basis.

“Organizations today are completely blind to their users and they don’t even know it. It’s just baffling to me that in 2019 the biggest companies in the world are still relying on whatever the ‘final answer’ is that a user, whether a customer, employee, or agent, puts down before pressing submit. It would be like your math teacher handing out a test, walking out of the room, and then accepting X = 76 as an answer without the student showing any work. Understanding how you arrived at an answer is increasingly more important than the answer itself,” said Bill Conners, CEO, ForMotiv. “We believe that in the next few years, collecting and analyzing what we’ve coined as “Digital Behavioral Intelligence” will be as routine as installing Google Analytics.”

“The number of applicable use cases is enormous, it seems like we come up with a new one every day. With insurance fraud exploding to $40B a year in an industry playing catch up with customer experience efforts, we knew our solution would be a fit. Having said that, we believe every company that has online forms, surveys, applications, etc. will eventually use DBI to better understand their users,” says Mike Mayock, Head of Sales. “Having the ability to truly understand users, their behaviors, and their intent helps optimize their experience, which can directly lead to increased conversions and happier customers. On top of that, it allows organizations to detect, predict, and ultimately reduce risk and fraud.”

ForMotiv’s behavioral intelligence platform is currently being used by leading financial services, government, and non-profit organizations. ForMotiv’s light-weight integration can be completed in under an hour and collects zero personally identifiable information (PII). Users are analyzed in real-time, allowing for instant risk decisioning and underwriting. The dynamic nature of the software allows for real-time engagement with customers likely to abandon, additional friction or further qualification for customers showing signs of increased risk, and oversight into internal or external agent workforces.

“It’s like watching HD TV for the first time - once you’ve seen that kind of clarity, it’s hard to imagine ever going back,” says Head of Growth, Woody Klemmer. “In this day and age, Digital Behavioral Intelligence is an absolute no-brainer.”

About ForMotiv:
ForMotiv is the first Digital Behavioral Intelligence (DBI) platform on the market. Using advanced, explanation-based predictive behavioral analytics, ForMotiv gives organizations unprecedented levels of insight into their users, leading to increased conversions, better digital experiences, and reduced risk and fraud. ForMotiv’s patent-pending “Digital Polygraph” provides real-time analysis of user behavior, helping organizations predict user outcomes such as risk and fraud. By analyzing a user’s digital body language, such as their hesitancy, indecision or answer correcting, copy/paste actions, and thousands of other metrics collected as a user interacts with a form or application, ForMotiv calculates “Intent Scores” to help predict user outcomes. Departments from Marketing to Risk, Data Science to Fraud, Underwriting to Digital Strategy are utilizing ForMotiv’s platform.

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Woody Klemmer
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