Pekin Insurance, an Illinois-based multi-state property and casualty (P&C) insurer, has announced that it has implemented the Guidewire InsuranceSuite on Guidewire Cloud to power its core business.
The partnership looks set to power Pekin Insurance’s core business, simplify its IT operations, adapt quickly to changing market demands, and deliver more value to its agents and policyholders.
A Guidewire customer since 2015, Pekin Insurance has migrated InsuranceSuite from a self-managed environment to Guidewire Cloud, simultaneously for all of its lines of business in the states where it operates.
The company is leveraging Guidewire ProducerEngage digital application and Guidewire Predict to enhance its loss ratio with better risk segmentation.
Pekin Insurance Chief Information Officer and Vice President Amy Bingham, stated, “We chose to migrate our Guidewire products onto Guidewire Cloud to better optimise our costs and improve platform support. We’ve now transferred platform maintenance to Guidewire so we can utilise regular ongoing updates and take advantage of Guidewire’s latest innovations much more quickly and seamlessly than when we were using Guidewire on premise.”
Pekin Insurance Assistant Vice President of Information Technology Kim Bandeko added, “We’ve received positive feedback from our agents, specifically around the user interface which is visually appealing. We’re looking forward to increased external rating and underwriting agility, leveraging the data and analytics products that are available on Guidewire Cloud, and integrating with the best-in-class InsurTech solutions through the Guidewire Marketplace and PartnerConnect ecosystem across our insurance product lifecycles.”
Michael Mahoney, senior vice president and head of professional services, Guidewire, commented, “Pekin Insurance has a 103-year history of offering financial protection for businesses, personal autos, homes, and families through their P&C and life insurance products. We congratulate the company on its successful cloud transformation through its InsuranceSuite migration to Guidewire Cloud. We look forward to Guidewire Cloud serving as the technology foundation to support Pekin Insurance’s mission of providing peace of mind to its agents and policyholders, delivering innovation and excellence in its products and services, and remaining dedicated to going Beyond the expected®.”
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