Reduce costs while increasing organizational capacity & the quality of business with liz

Two neon lines move from left to right. A pink line (Quality of business) has the line showing up while costs in yellow is trending down. With the thinktum logo.
Blog | thinktum-editor | June 22, 2023

Purchasing a technology solution to reduce costs seems incongruous. Yet with the liz suite, it’s 100% true. You can achieve better user journeys and lower operational costs. Here’s how.

Work smarter, not harder

No organization out there wouldn’t like to reduce their costs. Many firms are feeling the inflationary pinch these days just as we do. Costs are up, sales are flat, and something’s gotta give. But what if that old adage, “You’ve got to spend money to make money” is true? Just how much do you have to spend to keep yourself out of the red, anyway?

Organizations first look to start shaving expenses by curtailing marketing investments, cutting back on travel, investing in business development, and perhaps even instituting a hiring freeze to begin and lay-offs later if required. But here’s the thing, organizations don’t have to cut down on staff to lower costs. Putting in place streamlined processes can have a very positive effect on a firm’s bottom line. And what better to streamline than your client experience?

Hyper-personalization paves the road to success is a map to improve your client experience.

A short guide to reducing costs

Increasing organizational capacity can just mean working smarter, not harder. It can also mean making investments where they’re felt most – at the consumer level. When humans are involved, every policy sold takes a team to get it through: Advisors, Call Centers, Underwriters, Administrators, Actuaries, New Business, Operations, and more. Does it really take a village to sell insurance? What if you just automated the process and removed all the middlemen from it? We’re not advocating staff reductions, but why not let them do more important tasks that no one else can do as well?

If time is money, then shortening and customizing the application process means more revenue for the firm every time.

So, what’s the solution? Easy. Meet liz, a modular software suite developed to provide an optimized and tailor-made user experience for every applicant. Questions are plainly written, incongruous answers are checked & verified, and misrepresentation is caught as part of the behavioral data collected. This ensures the majority of applicants can apply quickly and easily. The very best part is each client is provided with the very best product for their needs.

Augmentation, the alliance of an era spells out how we work with cutting-edge technology to improve every part of the insurance experience.

Better business? You bet!

Providing a faster and fully customized application process makes end-users feel more aligned with the company. Clients want quick and easy, which is what liz delivers. With secure and robust assessments, the organization can trust the system without the need for rounds of human verification. The business can trust the solution to ensure every policy sold is legitimate, personalized, and perfectly aligned with their clients’ needs. Clients are looking for a frictionless experience. Offering one means giving the people what they want, which is a pretty good way to increase revenues.


Learn more on our LinkedIn liz Showcase Page.