Pekin Insurance Implements Guidewire Cloud for Expense Management and Improved Platform Support
February 12 2024 - 8:55AM
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.
For more information, please visit http://www.guidewire.com/ and
follow us on X (formerly known as Twitter) and LinkedIn.
NOTE: For information about Guidewire’s trademarks, visit
https://www.guidewire.com/legal-notices.
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version on businesswire.com: https://www.businesswire.com/news/home/20240212547901/en/
Diana Stott Director, Communications Guidewire Software, Inc.
+1.650.781.9955 dstott@guidewire.com
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