US-based Pekin Insurance is set to deploy Guidewire Software products, in a bid to improve its core system processing, data management, business intelligence and digital capabilities.
Guidewire will deploy its core processing, data and analytics, and digital engagement products to reduce Pekin’s system maintenance costs and streamline business processes.
Initially, the products will be deployed for commercial lines and later for the personal lines.
Guidewire PartnerConnect Premier Consulting alliance member, PwC, will take the responsibility of implementation, while Guidewire PartnerConnect Solution and Ready for Guidewire program member, Thunderhead, will offer its Smart Communications solution to create, manage and deliver all outbound policyholder correspondence.
Pekin will deploy Guidewire InsuranceSuite as its new platform for underwriting, rating, policy administration, claims, billing and client data management, while Guidewire Live Spotlight will be deployed for more informed decisions by automating the assessment of location-based risk.
The firm will deploy Guidewire DataHubm and InfoCenter to meet the enterprise-wide data management and business intelligence needs.
Guidewire Account Management Portal for Policyholders, Claim Portal for Agents, and Gateway Portal for Agents will allow the firm to provide better services for policyholders and agents.
Pekin Insurance chief information officer and vice-president Neal Kaderabek said: "We selected Guidewire because we wanted a tightly integrated suite of products to improve operational effectiveness and efficiency while improving customer service through a client-centric view of policyholder information.
"Guidewire’s product maturity, market share, and track record of successful implementations were important factors in our decision-making process, and we believe this strategic relationship will assist Pekin Insurance in continuing our mission of providing dependable insurance coverage to our policyholders."
Based in Illinois, Pekin Insurance offers property and casualty insurance services to the customers in their six-state marketing area.