Beyond InsurTech: Behind ValueMomentum’s Recipe for Success
ValueMomentum, a key partner of regional carriers like Pekin Insurance, focuses equally on strategy, relationships and technology to deliver strong results
ValueMomentum, a Global Services Provider exclusively focused on P&C Insurance headquartered in New Jersey, has made a name for itself in the insurance sector by helping to bring regional providers into the 21st century.
Specialising in property and casualty, ValueMomentum is renowned for its work across four main verticals: claims, product and underwriting, distribution and enterprise IT.
With this vertical operating model, the firm is able to deliver industry-specific expertise that makes a real difference.
ValueMomentum has partnered with Pekin Insurance, a regional provider based out of the Midwest, for almost a decade now, helping the Illinois insurer to modernise all the while.
“They were on a legacy platform for a long time and, in 2015, their senior management took the call that they needed to transform their IT into a more modern ecosystem,” says Avdhut Nadkarni, Client Partner at ValueMomentum, who has managed the Pekin account since 2017.
The importance of partnerships
In 2023, this focus on modernisation became more significant than ever before as Pekin Insurance grappled with one of the worst financial crises in its history after a string of extreme weather events wrought chaos across the US, causing claims to skyrocket.
By enlisting the help of partners like ValueMomentum and Guidewire – a cloud-based P&C insurance core systems software provider – Pekin’s team was afforded the agility it needed to respond.
Pekin has been a Guidewire customer since 2015, and the insurer used Guidewire’s core, data and digital products to help them rebound financially after 2023. Guidewire’s platform has enabled Pekin to respond rapidly to agent requests, customer expectations – especially when overloaded with claims from extreme weather - and a changing insurance market.
“It has been incredible to see Pekin flourish throughout their technology transformation. From replacing their legacy systems in 2015 to moving to Guidewire Cloud in 2021, it has always been clear that they are a team of forward-thinking innovators determined to be the best insurer they can,” says Tara Vieira, Customer Success Manager at Guidewire.
Strategy and technology
While ValueMomentum helps companies to evolve, it has been undergoing an evolution itself too. Rather than simply providing IT services to support business goals, the firm now advises insurers on strategic direction.
“We understand your business, meaning we will help you achieve your business goals,” Avdhut explains.
The transformation has yielded measurable results for clients like Pekin Insurance. In the past two years, ValueMomentum has helped Pekin achieve three of its most important goals: geographical expansion, risk reduction and improving the ease of doing business.
“We understand their strategic business objectives,” says Avdhut. “It has always been a very collaborative culture. Pekin considers us as one of them.”
For Alyssa Ozer, Head of Partnerships and Alliances at ValueMomentum, the strength of a client relationship, like the one ValueMomentum enjoys with Pekin Insurance, is a real indicator of success.
“When you have a client that’s willing to publicly say, ‘Yes, I work with ValueMomentum, and it’s great’, that’s a really positive sign,” she says.
Avdhut echoes these sentiments wholeheartedly. “Our boss is our customer,” he explains. “There is no other boss that we have at ValueMomentum.”
Contact ValueMomentum to learn more about our vertical-led, exclusive focus on the P&C insurance market.
To read the full story in the magazine, click HERE.
