ForMotiv
Founded Year
2018Stage
Incubator/Accelerator - II | AliveTotal Raised
$9.7MMosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
+2 points in the past 30 days
About ForMotiv
ForMotiv specializes in behavioral analytics within the insurance sector, providing insights into the intent and risk associated with digital applicants. The company offers solutions that analyze behavioral data in real-time to predict user intent and assess risk, which aids in improving conversion rates and reducing fraud. ForMotiv's services are primarily utilized by the insurance industry, enhancing digital experiences and decision-making processes for life, home, auto, and commercial insurance providers. It was founded in 2018 and is based in Philadelphia, Pennsylvania.
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ESPs containing ForMotiv
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The insurance fraud detection market supports the detection and prevention of fraudulent activity in the insurance industry. Vendors offer a range of automated solutions that allow users to improve operational efficiency, reduce claims process and fraud costs, and deliver improved customer experiences. Solutions are targeted at insurance companies with a need for automation and standardization of …
ForMotiv named as Challenger among 15 other companies, including Genpact, Verisk, and LexisNexis Risk Solutions.
ForMotiv's Products & Differentiators
Behavioral Data Packs
Receive real-time proprietary behavioral data features to leverage with internal predictive models.
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Research containing ForMotiv
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned ForMotiv in 1 CB Insights research brief, most recently on Dec 18, 2023.
Dec 18, 2023
The P&C claims tech stack market mapExpert Collections containing ForMotiv
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
ForMotiv is included in 5 Expert Collections, including Insurtech.
Insurtech
4,354 items
Companies and startups that use technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience
Artificial Intelligence
14,767 items
Companies developing artificial intelligence solutions, including cross-industry applications, industry-specific products, and AI infrastructure solutions.
Fintech
9,297 items
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
Targeted Marketing Tech
453 items
This Collection includes companies building technology that enables marketing teams to identify, reach, and engage with consumers seamlessly across channels.
ITC Vegas 2024 - Exhibitors and Sponsors
627 items
As of 9/9/24. Company list source: ITC Vegas. Check ITC Vegas' website for any updates: https://events.clarionevents.com/InsureTech2024/Public/EventMap.aspx?shMode=E&ID=84001
ForMotiv Patents
ForMotiv has filed 1 patent.
Application Date | Grant Date | Title | Related Topics | Status |
|---|---|---|---|---|
10/5/2018 | Biometrics, Identity documents, Authentication methods, Graphical user interface elements, Passports | Application |
Application Date | 10/5/2018 |
|---|---|
Grant Date | |
Title | |
Related Topics | Biometrics, Identity documents, Authentication methods, Graphical user interface elements, Passports |
Status | Application |
Latest ForMotiv News
Jun 21, 2024
The collaboration aims to provide insurers with new insights into applicant behavior and intent, significantly enhancing fraud detection and risk assessment processes. // (Image credit: Shutterstock.) ForMotiv , a provider of behavioral data science solutions for life and P&C insurance, has announced a strategic partnership with FRISS (Utrecht, Netherlands), a global provider of trust automation solutions for the insurance industry. The collaboration between ForMotiv and FRISS aims to provide insurers with new insights into applicant behavior and intent, significantly enhancing fraud detection and risk assessment processes. By combining ForMotiv’s behavioral analytics with FRISS’s predictive AI models and analytics, insurers can capture and analyze thousands of digital behavioral data points during the application process, according to a ForMortiv statement. The integration allows for real-time identification of potential fraudulent activities and misrepresentations, improving the accuracy and efficiency of underwriting decisions. Through this partnership, insurers can offer a more secure and personalized user experience without increasing risk. By understanding the digital behavior of applicants, insurers can tailor their interactions to each individual, ensuring a seamless and trustworthy application process. This helps to defeat fraud and better support trustworthy customers. Critical Insights into Applicant Behavior “Partnering with FRISS is an exciting step forward for ForMotiv,” comments Woody Klemmer, Head of Marketing, ForMotiv. “The integration of our behavioral analytics technology with FRISS’s trust automation solutions will provide insurers with critical insights into applicant behavior, helping them to mitigate risk and improve underwriting confidence.” “We are thrilled to join forces with ForMotiv,” comments Francis Slykhuis-Landry, Global Data Partnership Manager, FRISS. “Adding ForMotiv’s behavioral analytics enhances our ability to detect fraud and assess risk in real-time. This collaboration exemplifies our dedication to delivering state-of-the-art solutions that empower insurers to make informed decisions and protect their businesses. It is again a major step forward in our quest for honest insurance.” This partnership underscores both companies’ commitment to leveraging innovative technology to drive the next generation of risk assessment solutions.
ForMotiv Frequently Asked Questions (FAQ)
When was ForMotiv founded?
ForMotiv was founded in 2018.
Where is ForMotiv's headquarters?
ForMotiv's headquarters is located at 100 South Juniper, Philadelphia.
What is ForMotiv's latest funding round?
ForMotiv's latest funding round is Incubator/Accelerator - II.
How much did ForMotiv raise?
ForMotiv raised a total of $9.7M.
Who are the investors of ForMotiv?
Investors of ForMotiv include Plug and Play Insurtech, Vestigo Ventures, PROOF, InsurTech NY, Plug and Play Ventures and 4 more.
Who are ForMotiv's competitors?
Competitors of ForMotiv include NeuroID, Indico Data, Sensely, App Orchid, Intellimize and 7 more.
What products does ForMotiv offer?
ForMotiv's products include Behavioral Data Packs and 2 more.
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