| |OCTOBER 202219CIOReviewaccurately. Our tools allow them to integrate or implement much faster than historically would've been possible, and permits them to test which they can achieve much faster without waiting for anyone else to do it for them."Meet liz, thinktum's proprietary software solution What they're adjusting and maintaining is thinktum's software suite called liz. It was named for Elizebeth Friedman, an American Cryptanalyst who became known as the allies' "secret weapon for hire" during both World Wars. thinktum thinks of themselves in the same way ­ a secret weapon brought in when no one else can solve a puzzle or problem. Each module ­ liz flow, liz assess, and liz data can be deployed independently but provide even higher value when all three solutions are used in concert. liz flow was developed for advisor, direct-to-consumer, or hybrid businesses to optimize, amplify, and elevate their distribution models. Think of liz as an e-application and a product configuration and management platform. liz assess is thinktum's personalized underwriting engine. liz assess leverages behavioral data to maximize honest disclosure. The machine learning algorithms continuously tailor the assessment process to the user. liz assess delivers a far better user experience and has the most precise no-medical assessment (actual mortality) known in the industry.liz data is thinktum's data processing and analytics module, providing real-time analytics in the form of monitoring dashboards, logs, timestamps, and more. liz data delivers data visualization and behavioral analysis tools that include business, risk, and behavioral analyses. They provide instant alerts and recommendations, as well as delivering fraud detection, and reducing misrepresentation. All three modules make up liz, the entire software suite. Using the liz suite means insurers can create quick pre-assessments, achieve optimal data efficiency, and have faster implementation. thinktum also provides a nice cost-saving benefit when the complete suite is bundled together.Minimizing RiskRisk has always been the major driver of the insurance industry. Every insurance policy is about mitigating risk, both for the insurer and the insured. Traditionally, risk assessments were developed to weigh that risk against profits. That's still true, of course, but now, that risk assessment is built into every dimension of liz. That's what makes the suite so powerful ­ the system tracks the application process and flags problematic applications immediately. Legitimate applicants love the personalized application process, while those with more nefarious intentions will be identified and highlighted. When that risk is reduced or even removed, it means insurers can offer more insurance products to more customers, achieving their internal KPI goals, and a healthier bottom line. The Current State of PlayShafronsky and the thinktum team have been receiving significant market traction over the past year. New clients are currently being onboarded and Shafronsky is bullish on the future and ensuring they have the right solution for their clients. Again, here's Shafronsky, "It's very important to understand how companies operate within what resources they have, who is making decisions, what they truly need. Another thing we pride ourselves on is our breadth of experience. Most of the technology companies in the space we operate in are really technology companies. In other words, they possess technological expertise. But most of them do not possess business expertise. We've taken a step further to ensure that our company is equally equipped with both technology expertise, but also great business expertise."That mindset has us bullish on thinktum's bright future too. Eugene Shafronsky, Head of StrategyThrough our ecosystem of no-code technology solutions, we are helping insurance business experts create personalized risk assessment and customer journey models for various organizations in a short span of time and optimize insurance business cycles
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