PURE Insurance Named One of the Best Entrepreneurial Companies in America by Entrepreneur Magazines E360 Performance Index
WHITE PLAINS, N.Y., Nov. 6, 2015 /PRNewswire/ -- Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer of high net worth individuals and families, has been named one of the "Best Entrepreneurial Companies in America" by Entrepreneur magazine's Entrepreneur360™ Performance Index. The index is determined by a comprehensive analysis of private companies in America to select those that demonstrate sustainable growth and the ability to achieve lasting success.
"PURE is honored to be recognized with this distinction," said Ross Buchmueller, president and CEO. "It is a testament to our purpose and could not have been achieved without the continued support of our members, elite network of independent brokers and dedicated employees."
"Those honored have identified a problem, come up with a unique solution, and bravely built their enterprise around it," said Ryan Shea, president of Entrepreneur Media. "They've accomplished new ways of producing sustainable growth and are an inspiration to others who want to fulfill their own entrepreneurial goals."
The team of editors and researchers behind the E360 Performance Index looked at roughly 10,000 private companies in America that showed top line, bottom line, and employment growth to help determine the index. Then, through in-depth surveys, they collected more than 250 pieces of data from hundreds of participating U.S. based companies, focusing on growth drivers and challenges, goal setting, resource allocations, and reward systems.
The analysis uncovered a subset of 170 companies, including PURE Insurance, whose continued success is largely based on superior value creation for their customers, building an adaptive learning culture, and aggressive geographic expansion—making them the most dynamic firms in America today. PURE Insurance was one of only one of 11 companies in the Contrarian category, which means its employees are fully productive, it maintains good profit margins, departments are able to adjust to growth, and expansions are well timed.
"The companies identified in the E360 Index are sustained growers, and based on our research, have proven adept at navigating the changing challenges of their marketplace to win new business and grow their output capacity year after year," says Gary Kunkle, senior research fellow at the Business Dynamics Research Consortium and research partner of the E360 Performance Index.
Privilege Underwriters Reciprocal Exchange (PURE) is a policyholder-owned insurer dedicated to creating an exceptional experience for responsible high net worth individuals and families. PURE provides best-in-class, customizable coverage throughout the U.S. for high-value homes, automobiles, jewelry, art, personal liability, watercraft and flood. Inspired by some of the finest policyholder-owned companies in the world, PURE emphasizes alignment of interests and transparency. PURE's low cost of capital, careful member selection, and proactive risk management all contribute to highly competitive rates. In return for a fee, PURE Risk Management, LLC acts as Attorney-in-Fact for PURE. To learn more and find a PURE-appointed independent broker, visit www.pureinsurance.com.
ABOUT THE ENTREPRENEUR360 PERFORMANCE INDEX
Entrepreneur's dedicated team of editors and researchers, in partnership with Gary Kunkle, senior fellow at the Business Dynamics Research Consortium, examined information submitted by hundreds of private companies. The company founders who participated were surveyed on multiple factors that go beyond the traditional measurements of success, including market sector, sales territory, target growth rates, culture and other company functions. Companies had to be based in the U.S., privately owned and have at least three years within a five-year period that they added employees. Differing from the many "fastest growing" company lists in the marketplace, the study sought out to identify companies that exemplify sustained growth, looking further than top lines in a single year, and taking a 360-degree view of U.S. businesses and how they have achieved lasting success over multiple years. Using a technique called 'hierarchical cluster analysis' the research identified six different paths that these extraordinary companies follow to achieve sustained growth. "Each path represents a unique set of objectives, strategies, and tactics, and each demonstrates the trade-offs between actions that increase the probability of success and those that can increase operational risk. The companies recognized in the E360 Performance Index fall into one of these six paths, or archetypes, we've identified," explains Lisa Murray, Chief Insights Officer of Entrepreneur Media, Inc. "While each company was founded by individuals driven by unique visions of how to create higher value for customers in both emerging and mature industries, it's through extraordinary implementation that they have achieved lasting success." For additional details on the E360 Performance Index and the companies recognized, visit: http://entm.ag/E360Index
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