ValueMomentum, a provider of IT services and solutions for insurers, has partnered with Pekin Insurance to roll-out a commercial lines offering in a new state, Utah.
ValueMomentum partnered with Pekin Insurance to configure its Guidewire InsuranceSuite with commercial lines for the state of Utah – as part of a fixed fee engagement.
Pekin Insurance’s vision is to expand its commercial lines business into additional states to develop a presence beyond the Midwest and drive growth.
The Utah implementation entailed implementing commercial auto, workers’ compensation, business owners’ policy, commercial package product, and commercial umbrella in Guidewire InsuranceSuite and Guidewire ProducerEngage.
Pekin Insurance said the Utah state expansion engagement will be optimised to serve as a template for future geographic expansion initiatives.
ValueMomentum has been engaged with its Guidewire InsuranceSuite application providing application management, integration, testing and more recently upgrade services to the Guidewire Cloud Platform through its partnership with Guidewire.
Amy Bingham, chief information officer at Pekin Insurance, said, “We are pleased with ValueMomentum’s flexible and cost-effective factory delivery model, and early results from the expansion are positive. As we facilitate the adoption of a product-centric business model operating through agile practices, we look forward to the flexibility and agility afforded by ValueMomentum’s engagement model and its expertise with insurance and technology.”
James Carlucci, executive vice president, Insurance at ValueMomentum, added, “We appreciate our long-standing partnership with Pekin Insurance and the privilege to contribute to their growth objectives. We are proud of our project teams who draw on ValueMomentum’s deep property & casualty insurance expertise, expert Guidewire global community of practice, and the tools & assets that enable rapid, agile and high-quality deliveries to drive great value to our clients’ initiatives.”
Last year, Ivans’ parent company Applied Systems acquired commercial lines rating solution for small business insurance Tarmika.
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