Software Innovation Leads to Big Data Solutions
Worthwhile Identified the Critical Path and Built a Transformational Software Solution
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. They needed a disruptive digital innovation to unlock additional revenue streams in their business.
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 identify needs. Then, we observed call-center employees and conducted interviews to design and build a lasting user-focused solution that delivered business value on an everyday basis. By working in a continuous loop of designing solutions, making them, and then observing how they operate, Worthwhile has delivered buisness value on an everyday basis in the call center, with faster claim processing times allowing for a 17% reduction in labor and hiring costs. Plus, the software system and the new data warehouse opens the door for new revenue streams that set Guardian's business up for long-term success.