thinktum

No-code underwriting and e-application software for life and annuity carriers

Underwriting & Risk Growth Bootstrapped

Overview

thinktum is a Canadian underwriting technology solutions provider offering no-code, AI-powered software for life and annuity insurance carriers. The company targets carriers, MGAs, and insurtechs seeking to configure and deploy e-applications, underwriting engines, and data analytics without requiring software development resources or IT involvement.

Its core product suite, called liz, consists of three modular components -- an e-application platform, an underwriting decision engine, and an analytics module -- each usable as a standalone solution or as part of an integrated workflow. The platform supports multiple underwriting models including accelerated, simplified, reflexive, and hybrid approaches, with claims of underwriting model build times up to ten times faster than traditional methods.

thinktum was founded by David Slabodkin, who previously created Canada Protection Plan (CPP), a major Canadian non-medical life insurer. In September 2023, the company acquired Illustrate Inc., a 35-year-old provider of cloud-based life and health illustration and e-application software, expanding its capabilities into point-of-sale illustration technology under the OPUS platform brand.

Products & Services

liz flow

A no-code e-application and product configuration platform delivered as SaaS. Enables carriers to build and deploy advisor, direct-to-consumer, and hybrid distribution models without coding.

Key Features

E-signature and e-delivery support
Real-time data collection during application flow
Compatible with third-party calculation engines and APIs
No-code product configuration for underwriters and product teams

Target Users: Life and annuity carriers, MGAs, insurtechs

liz assess

An AI-driven personalized underwriting engine supporting multiple underwriting model types without requiring IT staff involvement.

Key Features

Automated decision flows with mortality rating calculations
Comorbidity factor analysis and third-party data source integration
Glass-box (explainable) underwriting logic
Fraud and misrepresentation detection
Supports accelerated, simplified, reflexive, dynamic, traditional, and hybrid underwriting models

Target Users: Life insurance carriers, MGAs

liz data

A data processing and analytics module for underwriting portfolio monitoring and behavioral analysis.

Key Features

Real-time monitoring dashboards
Behavioral analytics for agents and applicants
Supervised and unsupervised machine learning analysis
Fraud detection with instant alerts

Target Users: Life insurance carriers

OPUS Platform (via Illustrate Inc.)

A cloud-based, low-code illustration and e-application platform with over 35 years of deployment history, acquired via the September 2023 purchase of Illustrate Inc.

Key Features

Life, wealth, and health illustration capabilities
E-application and point-of-sale technology
Annuity and life insurance product coverage
Back-office administration support

Target Users: Life insurance carriers and agents

At a Glance

Founded: 2018
Headquarters: Waterloo, Ontario, Canada
Employees: 11-50
Funding: Bootstrapped

Category & Focus

Category: Underwriting & Risk
Subcategories: E-Application Platforms Insurance Analytics Distribution Technology
Insurance Verticals: Life & Annuity Health
Target Customers: Carriers, MGAs/MGUs, Agents/Agencies