Data collection & analysis, with instant optimization capabilities
thinktum’s liz suite not only cuts through enormous piles of data, but the system collects data as well. Which then provides it back to the business in the form of alerts and notifications as part of our liz data module. We’ll show you how.
Data as evidence
With Life Insurance, data has been collected alongside policy applications since this kind of insurance was invented. That data can include lab and X-ray reports, doctors’ notes, and even credit checks to confirm the applicant’s financial health. Manually collecting that data is a real hassle – there are too many different documents to chase down and too many disparate services to engage with to receive it. Why couldn’t that data be collected automatically and delivered to a single location?
See how thinktum’s liz suite can work with your existing underwriting rules in Of risk appetite and underwriting philosophy.
You have data. Now what?
As many insurers are learning the hard way, more data can sometimes be just more data, if the organization can’t manage it in a way that adds value. It seems there are simply too few firms that understand the power of data as part of their business success.
With liz data, as application info is collected, it’s available to the business instantly. The best news is that data is already processed and, in an analyzed form, delivered through an easy-to-use dashboard that can be instantly translated into useful action. This data is what thinktum uses to deliver a personalized application process, verifying the client is matched with the best product for them. thinktum’s machine-learning algorithms help organizations better understand each flow and every applicant because our glass-box design means everything is visible to the business. See liz in action! Request a demo today.
Use this newly accessible data to guide new product development, pricing, marketing, and even actuarial science. It’s each organization’s data and they can use it as the business wishes. Think of data as the business currency of the 21st century – those with usable data will succeed in ways that more traditionally run firms will not be able to.
Get the lowdown on liz in thinktum’s liz suite.