Pekin Insurance, an Illinois-based multi-state Property and Casualty (P&C) insurer, and Guidewire Software, Inc. (NYSE: GWRE), provider of the industry platform P&C insurers rely upon, today announced that Pekin Insurance successfully deployed Guidewire InsurancePlatform™ to modernize its infrastructure and simplify processes for agents to do business and enable growth. Guidewire PartnerConnect™ Consulting* Premier member, Deloitte Consulting LLP, led the implementation project.
Pekin initially deployed InsurancePlatform in February 2018 to its personal auto line of business in the state of Arizona. Personal auto is the company’s largest line of business and had been experiencing major profitability issues. Since then, it has deployed InsurancePlatform to its personal auto and home, business owners policy (BOP), and workers compensation lines of business in all of the states where it does business. Pekin is currently implementing InsurancePlatform for the rest of its commercial and personal lines of business.
“Speed to market was a very important goal for us. Thanks to the hard work of Guidewire, its partners led by Deloitte Consulting LLP, and our business and technology staff, the first phase of the implementation project was completed on time in 10 months, and continues to progress on schedule,” said Subhasis Mukherjee, chief information officer, Pekin Insurance. “The personal auto line of business in Arizona is now a profitable one for us, and our new Deluxe BOP product is much more enhanced and popular than our previous one.”
“We are honored that Pekin entrusted us with the success of their business transformation, enabled by Guidewire InsurancePlatform implementations,” said Jasmeet Gill, Principal, Deloitte Consulting LLP “Pekin is well on their way to realizing the business benefits - including profitability, growth, and experience – from this transformation program. We look forward to continuing to partner with Pekin, and all their partners, on their transformation journey.”
“We congratulate Pekin Insurance on its successful InsurancePlatform deployment,” said Mike Polelle, chief delivery officer, Guidewire. “We are humbled by InsurancePlatform’s role in Pekin’s continued commitment to providing financial protection and peace of mind to its customers by delivering innovation and excellence in its products and services and look forward to seeing it succeed in a rapidly-changing insurance marketplace.”
Pekin successfully deployed Guidewire InsuranceSuite™, Guidewire Client Data Management™, Guidewire Product Content Management™, and Guidewire Rating Management™ as its new core operations software applications for underwriting, policy administration, claims, billing, client data, product content, and rating management. In the area of digital engagement, the company deployed Guidewire ProducerEngage™ and Guidewire ServiceRepEngage™ to offer a seamless digital experience to its agents and customer service representatives. From the data and analytics software portfolio, Pekin deployed Guidewire Predictive Analytics™ for Profitability to embed predictive insights into Guidewire PolicyCenter™, creating a Smart Core™ system for guidance on account selection and pricing. In addition, Pekin deployed SmartCOMM™ from Smart Communications for customer communications management. Guidewire is a reseller of Smart Communications, a Guidewire PartnerConnect™ Solution and Ready for Guidewire* program member.