Pekin Insurance Company
www.pekininsurance.com
2505 Court St.
Pekin , IL 61558
Contact: David Jones
Phone: (309) 346-1161
FAX: (309) 478-2091
djones@pekininsurance.com
Percent of business in Illinois by line:
Commercial: 46% Personal: 46% Life & Annuity: 5% Health: 3%
Premium Volume: $254,415,750
Are you currently appointing new agents? Yes
What type of agency is your company looking for? We want agencies looking for a long term relationship with a company and willing to write all lines of business: Personal Lines, Commercial Lines, Life and Health.
What are your premium volume requirements? (In profit sharing? In life?) For Profit Sharing, we want $50,000 the first year, $100,000 the second year, $250,000 thereafter. We ask that an agency place a reasonable amount of the Life insurance they write with our company.
Are you currently doing any niche-marketing program? Although we offer no real niche marketing, we write a lot of small to medium contractors and garage risks. We are also very interested in Personal Lines business.
What is your company’s most aggressive line of business? Our most aggressive line would have to be Personal Lines. We write Auto, Homeowners, Motorcycles, RVs and Umbrella policies.
Do you use credit scoring? We use credit scoring on both new and renewal business and find that our experience continues to justify its use.
What methods do you use to distribute your insurance products? All of our products, except Credit Insurance and Pre-Need, are marketed through independent agents. Even though the Credit Life insurance is sold through banks and the Pre-Need is sold through funeral homes, we pay an independent agent an override.
What do you think makes your company different, or stand out from all the rest in Illinois ? Why would an agent want to contract with your company? Our wide array of products and commitment to relationship building with our agents makes us stand out. We offer agent training, co-operative advertising, computer and producer loans, as well as many other extras to enhance our relationship with our agents. We also have quarterly meetings with our agents, an Annual Agents Forum and two company trips each year to encourage communication and relationship building. Agents looking for a stable, consistent market with a company of proven financial stability and current premium-to-surplus ratio of 1.1 to 1 should consider Pekin Insurance.
If we had agents agree to sell homeowners policies with actual cash value endorsements, would you write more business in southern Illinois ? No, we have no homeowner's restrictions in Southern Illinois and underwrite the business the same all over the state.
Please list your Marketing Representatives and the territory they cover: Dave Jacobs - Central Illinois ; T Jay Jansen - Galesburg/Moline; Jack Newman - Rockford ; Rick Henke - Springfield ; J. Mark Williams - Mt. Vernon ; Pat Phelps - Champaign ; Larry Speed - Henry County to Will County ; Sean McGinnis - Madison County to Crawford County ; Jim Tram - DuPage County/Cook County; Jack LiCausi - Northeast Illinois
Do you plan on retaining your current profit sharing agreements? Unless we are forced to change by legislative or administrative action, we plan no change in any of our agency incentive plans. We feel that they encourage both production and profitability.
Do you offer the ability for agents to integrate third-party reports into their comparative rating process? Yes
If yes, with what vendors have you developed and/or signed on to provide this technology? Credit reporting is done for comparative raters. MVR/Clue reporting is done before business is committed by upload to Pekin Insurance.
Do you offer single-entry new business upload from either comparative raters and/or management systems? Yes
If yes, how many transactions do you process a month? 125
If yes, what vendors? MI-Assistant and Comparative Rater
Do you provide rates and assistance to comparative rating vendors? Yes
What kind of assistance? Access to our website to check their rates.
Do you work with comparative rating vendors to improve accuracy? Yes
Do you test vendor rates? No
What is your current real-time rating strategy? Only from our website.
Do you provide an agent facing website for your agent’s reference? Yes
Do you offer the ability to quote and/or issue new business? yes
Which lines? Auto, Home, BOP, Motorcycle, Dwelling Fire, Contractors, Work Comp, Commercial Auto and any Commercial Package Policy will be available in the 4th quarter of 2005.
Can the transaction be bound online? Yes
Can your agents service in-force policies? Yes
Which lines? Auto and Home
Describe the service transactions available: Auto-all transactions. Home-limited.
Do you publish agent manuals and policy forms on-line? Yes
Do you have upload? Yes
Which lines? Auto and Home
Do you support policy download? Yes
Which lines? Auto, Home, Dwelling Fire, Inland Marine, Watercraft, Umbrella, Commercial Auto
Do you support direct bill commission statement download? Yes
Which agency management systems do you work with? AMS, APPLIED, DORIS , INSTAR, NASA, MI-ASSISTANT, SIS
Do you support real time service for inquiry? Yes
Which lines? Personal, Commercial
Claims? Personal, Commercial
Billing? Personal, Commercial
Do you have real time endorsement capabilities? No
Do you support Transformation Station, Transact Now or other technologies? Yes
If yes, please specify: Transformation Station
Is this technology available today? Yes
If yes, how many transactions do you process in a month? We just started this process.
Please outline the top 3 technology initiatives your company will be implementing to benefit agency workflows, and describe how these initiatives will benefit the agency.
All lines rating - Agents will get an accurate quote on all of our business.
Real time - Agents with management systems can improve their work flow.
Upload of all lines - Agents will work without paper transfer for all lines of business.