Disclosed herein is a hair-grasping EEG electrode and an insertion tool for placement of the electrode on the scalp. The electrode has a novel two-piece clamping design formed of cooperating halves that capture and tension the hair, pulling the electrode snuggly against the scalp before locking together to anchor the electrode in place. The insertion tool allows easy manipulation and fast and consistent installation without need for lengthy user training and practice. Moreover, the insertion tool assumes some of the functionality so that the electrode can be simplified, allowing a smaller footprint and part count, as well as allowing the non-conductive portions of the electrode to be disposable. Dispensing of electrolytic gel is a convenient option to improve the interface, and this may be readily dispensed from the tool, or from reservoirs integral to the electrode. The combination greatly reduces EEG study setup time and technician labor costs.