PEKIN INSURANCE
Transforming a leading legacy company into the digital insurance space With its dynamic and forward-thinking team , Pekin Insurance has experienced a radical digital transformation journey over the past few years . Its newest offerings include a life insurance product that can be issued automatically with zero human touch – an impressive feat when life insurance is one of the most difficult products to translate into a digital solution .
“ The life company just implemented the first instant issue application that uses rules-based underwriting and e-signature capabilities for a zero-touch experience . And that ' s really exciting on our journey from more of a legacy-based system to a more digital environment ,” says Bingham .
Another priority initiative Pekin Insurance is embarking on is the migration of the Guidewire platform into Guidewire ' s cloud SaaS solution . Guidewire is a leading partner of Pekin Insurance and has been instrumental in the company ’ s transformation .
“ After our initial investment in the implementation of Guidewire , we were finding it difficult to really stay on top of those product releases due to staffing constraints and the need to focus on delivery of other priority business initiatives . So as a result , we were missing some of the
1921 Year founded
800 +
Number of employees
PEKIN INSURANCE LEADERS
Michael Walsh , Divisional IT Director , Pekin Insurance on Culture & Employee Engagement : “ Pekin Insurance IT has been very fortunate to have a team that has always been able to have an open mind to new ideas and is willing to reinvent themselves in order to provide the very best services to our business and insureds .
“ Part of the magic of Pekin Insurance IT is the teams ’ ability to weather new challenges and give consistent feedback on how to improve team engagement . The ability to stay engaged and keep communication channels open , from employee to leadership level , allows for issues to be tabled and resolved honestly and collaboratively .”
DID YOU KNOW ... opportunities of enhanced functionality that were being offered in the more recent Guidewire product releases .”
Guidewire and ValueMomentum both became key integration partners on a plan that ' s going to enable a full migration to the Guidewire cloud platform .
“ We ' re starting on this journey now with plans to complete the migration in Q1 of 2023 . And with this migration to a full Guidewire SaaS solution , we ' re going to realise several opportunities . I look forward to collaborating with our business partners to investigate this enhanced functionality , which includes the ability to seamlessly make changes to underwriting and validation rules without time-consuming deployments . It will enable configuration approaches that
insurtechdigital . com 55