Pekin Insurance Implements Guidewire Cloud for Expense Management and Improved Platform Support
PEKIN, Ill. & SAN MATEO, Calif.--(BUSINESS WIRE)-- Pekin Insurance, an Illinois-based multi-state property and casualty (P&C) insurer, and Guidewire (NYSE: GWRE) announced that Pekin Insurance has successfully implemented Guidewire InsuranceSuite on Guidewire Cloud to power its 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, the company migrated InsuranceSuite from a self-managed environment to Guidewire Cloud simultaneously for all of its lines of business in the states where Pekin Insurance operates. The company is also using the Guidewire ProducerEngage digital application and Guidewire Predict to improve its loss ratio with better risk segmentation.
“We chose to migrate our Guidewire products onto Guidewire Cloud to better optimize our costs and improve platform support,” said Pekin Insurance Chief Information Officer and Vice President Amy Bingham. “We’ve now transferred platform maintenance to Guidewire so we can utilize 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.”
“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,” said Michael Mahoney, senior vice president and head of professional services, Guidewire. “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®.”
About Pekin Insurance
With nearly 700 employees, Pekin Insurance has been in business since 1921 and is one of the leading insurers in the state of Illinois, providing multiple lines of insurance. Pekin Insurance offers property and casualty coverage for businesses and individuals in Arizona, Illinois, Indiana, Iowa, Ohio, Utah, and Wisconsin with nearly 1,200 independent agencies in the seven-state area. They also sell Life Insurance, Medicare Supplement policies, and Pre-Need coverage in 22 states. The company is headquartered in Pekin, Illinois. Visit www.pekininsurance.com for more information.
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 540 insurers in 40 countries, from new ventures to the largest and most complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with more than 1,600 successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.