What do you do when your business has a data problem, but you’re not completely sure how to fix it? You can try to patch holes and fix cracks as they appear, but that’s not going to solve the issue.
This is the situation Guardian Protection Products was in. As one of the top furniture insurance providers in the country, Guardian had enviable market share and revenues. But their ability to understand which plans were most profitable (or most problematic) was limited because the way they collected data wasn’t conducive for deep-dive analysis or underwriting.
When Guardian brought in Worthwhile to consult on the data issue, we realized together that the best path forward was to start collecting better data—and that doing so would also yield tons of operational benefits like better claim decisions, cheaper claim resolutions, and better customer service. Turns out, the solution to Guardian’s data problem started with a transformational call-center software followed by portals for retailers selling furniture insurance plans, customers making claims, and vendors fixing damaged items.
Worthwhile helped Guardian prioritize the transformation and worked together with Guardian’s in-house data experts to design and build a lasting solution that delivered business value on an everyday basis, as well as a data warehouse that set Guardian’s business up for long-term success.