ForMotiv + Unqork: Delivering Digital Behavioral Intelligence to the Insurance Industry

intelligence

With Unqork and ForMotiv, insurance companies can harness powerful digital behavior intelligence functionality for their applications without writing a single line of code.


To remain competitive in today’s fast-moving marketplace, insurance companies must develop the capacity to address specific customer needs at scale. This is why the partnership between two pioneering technology providers—Unqork and ForMotiv—is a game-changer.

Unqork’s advanced no-code platform allows companies to rapidly build and effectively manage complex enterprise applications, while ForMotiv’s advanced digital behavioral intelligence (DBI) platform provides fine-grained insights into user motives and intents. Together, these two technologies are empowering carriers to build dynamic digital experiences that can automatically adapt to the needs of customers (both existing and prospective) and drive business value. During a recent webinar, leaders from both companies discussed how leading carriers are tapping into the power of DBI with the simplicity of no-code. 

What Is Digital Behavioral Intelligence?

There are several enterprise tools that provide companies with vague “stories” about how users are engaging with their applications (e.g., Google Analytics might show a particular user entered an online application through link X, asked for a quote for Y line of coverage, and it took them Z minutes to find a resolution). ForMotiv allows companies to go much more in-depth and analyze fine-grained behavioral attributes, which the company refers to as “digital body language.”

"Instead of a carrier just knowing the users’ quote duration status—when they started a quote, when they submitted, or how many times they submitted it, etc. ForMotiv unlocks an entirely new dimension of behavioral data that looks at users’ intent by continuously scoring user behavior,” explained ForMotiv’s Head of Product, Mike Mayock. “Things like mouse movements, keystrokes, corrections, time spent on pages, or individual form fields in between keystrokes. All these behavioral elements tell a story about user intent.”

These behavioral insights can reveal critical insights such as signs of frustration that might result in abandonment of an application, or hints that a customer or agent is purposefully manipulating data to receive a better rate. With ForMotiv, carriers can automatically identify and react to signals in real-time and at scale. These detailed insights can power responsive digital experiences that dynamically react to user behaviors to increase conversions, enhance the customer experience, and flag potential risk.

ForMotiv uses a simple three-part operational model behind any behavioral intelligence project: Collect, Detect, and Predict.

  • Collect: Using a lightweight JS Integration, ForMotive can collect 5,000+ data points per application, which can be measured in real-time.

  • Detect: ForMotiv automatically identifies positive and negative behaviors of applicants and agents and enables real-time signaling capabilities for customers. Companies can set-up rule-base signals for certain behaviors that carriers want to be alerted on (e.g., flagging an application where a customer showed high-intent-to-buy signals, but abandoned the application—this information can inform and optimize remarketing tactics).

  • Predict: Real-time outcome scoring allows businesses to understand user intent and create dynamic experiences to increase or reduce application friction.

Unqorking the Potential of DBI

The unprecedented challenges of the past year have amplified the urgency of robust digital transformation. This is where Unqork’s peerless speed and flexibility can be augmented and complemented by ForMotiv’s powerful real-time analytics capabilities. 

“It is extremely easy to grab a lot of behavioral data, a lot of insights and analytics from how people are interacting with Unqork-built solutions, and that's where we see our partnership with ForMotiv can become extremely valuable for our clients,” explained Nilay Doshi, head of P&C insurance at Unqork. “ForMotiv can deliver behavior sciences via our platform’s configurable integration layer.”

With these two technologies working in tandem, carriers can, for example, precisely identify parts of the customer journey where users (or specific segments of users) are abandoning the process—and, just as importantly, why they are doing so. These insights can help companies iterate digital products to be more effective. Or, even better, carriers can use these platforms to build applications that dynamically react to customer behavior in real-time, e.g., highlighting a click-to-call option for a customer who is identified as likely-to-buy, but also showing signs that they may soon abandon the process.

This is a methodology we call The BAR (Build, Analyze, React) approach. 

  • Build: Unqork helps companies rapidly build digital applications without writing a single line of code.

  • Analyze: ForMotiv helps companies analyze and optimize their digital applications for enhanced customer experience and reduced risk.

  • React: Together, we enable organizations to build complex digital applications that read and react to the behavioral traits of the end-user.

Unqork includes a growing list of enhanced insurance solutions that come out-of-the-box (or out-of-the-virtual-SaaS-box) with ForMotiv-powered BI functionality including: 

  • Agent Onboarding & Management

  • Digital Channel Enablement

  • Digital Submissions for Underwriting & Policy Administration

  • Fraud Lifecycle Management

  • Underwrite, Quote, Rate, Bind & Issue

Want to see it in action? Watch this brief demo of an accident insurance solution built on Unqork’s platform, utilizing ForMotiv’s fine-grained behavioral insights. When you’re ready to see how Unqork and ForMotiv can be used at your organization, schedule a personalized demo with one of our in-house experts or sign up for the Unqork newsletter to learn more about what’s possible with no-code.

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