Here’s What Our Launch Customers Are Saying about our TCOR Dashboard

LineSlip is gearing up to release our Total Cost of Risk, or TCOR, dashboard this week. This feature is an extension of our current LineSlip Risk Manager platform, and will help users easily understand their expenses and total spend beyond just risk transfer costs. Our TCOR tailored views allow risk managers to quickly discern their total insurance premiums paid—and to whom; as well as their retained losses, exposures, rate, and risk management administration expenses year over year. TCOR gives risk and insurance professionals a detailed and adjustable view of all policies, limits, sublimits, and retentions—all in one place—with the ability to view high-level data year-over-year or the ability to granularly review the critical data impacting a risk manager’s overall TCOR. 

Recently, we received the 2022 Innovation Award from Business Insurance for our TCOR dashboard, which we’re thrilled about. But we’re even more excited about the feedback from our launch customers from our Beta Tester Program, since they are a more accurate reflection of the end-users of our TCOR feature. After all, the inspiration for our TCOR dashboard came directly from customer feedback. We’ve crafted and built the entire dashboard with our users in mind from the very beginning.  

One of our launch customers is a Senior Director of Global Risk and Insurance Management at an American biotechnology company. He said that a lot of risk managers don’t measure their TCOR but companies, especially Fortune 500 and Fortune 1000 companies, must think about TCOR. He believes that LineSlip’s TCOR dashboard is leading risk managers in the right direction.  

Another launch customer, who is the Director of Risk Management and Insurance at a Fortune 500 online retailer, said “I think TCOR is amazing. Having that level of granular detail and being able to quickly go to my policies and see all the sublimits and more is really fantastic. Having it in one spot is valuable." He shared with us that he enjoys the fact that all the information is at his fingertips. He especially enjoys seeing the losses, the risk transfer, and the expenses from year to year all in one place. There is so much information to keep track of in his role, and he likes that with LineSlip, he doesn’t need to remember the specific details because all the information is aggregated. If someone asks him a question, he can have the answers handy and send the aggregated data to the person. 

When it’s time for him to start thinking about the budget, he can easily collect the data needed and tell upper management what the outlook looks like. As he’s currently dealing with budget reports, he loves that the TCOR feature and the rest of the LineSlip platform can help him craft his message. He’s also very excited that with LineSlip’s functionalities, he can depend less on brokers. He told us that he’s had brokers in the past that presented him with incorrect TCOR data.  

Another of our launch customers, a VP of Treasury & Insurance at a Fortune 500 retail company, told us that something that’s been on his list of things to try at his organization is to provide or create letters of credit premium at a basic level. TCOR allows him to achieve this goal by allowing him to put it together and run it against years. He also found the Expense Detail tab particularly valuable because it is helpful for him from a budget viewpoint. When he puts a budget together each year, he can quickly use the data from this tab as a reference.  

Throughout our Beta Tester Program, we gained deeper insights into which part of the TCOR dashboard was most helpful to risk professionals. We consistently received feedback indicating that launch customers appreciate how easy it is to pull the information from the TCOR dashboard into a presentation format and that as a result, they felt more prepared for meetings with financial stakeholders.  

Our TCOR feature will be added to our core LineSlip offering at no additional charge through the end of 2022. 

LineSlip’s TCOR Launch

If you are interested in learning more about our TCOR dashboard and how your organization can use it, join us for our virtual roundtable event "Total Cost of Risk: Understanding the Big Picture" on Thursday, October 6th, 2022 from 1:00- 2:00 PM EDT where a panel of experienced risk professionals will hold a conversation about TCOR. Register now!