How Technology Took Pekin Insurance From Crisis to Credit

In 2023, Pekin Insurance faced the worst financial crisis in its history. The Illinois-based property casualty and life insurance carrier recorded a staggering US$170m net loss. Just 12 months later, the company achieved its most profitable year in two decades.

This remarkable transformation was orchestrated by Amy Bingham, the firm’s Vice President and Chief Information Officer, whose strategic deployment of technology partnerships and platform modernisation initiatives played an integral role in the company's dramatic turnaround.

"We went from having the worst loss year to the most profitable in almost two decades in a one-year time span," Amy explains. The achievement represents an unprecedented recovery in an industry where such rapid transformations are virtually unheard of.

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