White Plains, New York– August 20, 2014 – Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property/casualty insurer designed for high net worth individuals and families, is the subject of a new case study, How PURE Insurance Built A Customer-Obsessed Business, published by Forrester® Research, a leading independent global research and advisory firm. The report illustrates the ways PURE ensures alignment with its customers, emphasizes an exceptional member experience, uses qualitative research to identify opportunities for innovation, and provides emotional intelligence training to its employees.
PURE attributes much of its growth to relentlessly focusing on the needs and satisfaction of its members. Since its launch in 2007, PURE has sustained annual growth of 40 percent or more and one of the highest Net Promoter Scores in any industry.
“We were delighted when an organization as reputable and influential as Forrester asked to develop a case study about PURE and our investment in developing the emotional intelligence, or “purEQ™”, of our people,” said Mark Galante, Chief Marketing Officer with the PURE Group. “Creating an exceptional member experience is an important part of PURE’s long-term growth strategy, and the case study successfully captured a number of its ingredients.”
While PURE has emphasized the importance of alignment with the interests of its members since its inception, this year the company collaborated with TalentSmart, a leading provider of emotional intelligence training, to launch purEQ, a program that helps to both screen potential hires for natural empathetic tendencies and to formalize lessons on the interpersonal skills PURE has always valued.
As part of the training, PURE employees complete evaluations that assess self-awareness, self-management, empathy and relationship skills. Following that, they spend a day in training, using role-playing scenarios to practice how to respond to different emotional states. At the end of the training, each employee commits to a self-development program and forms an accountability partnership with a colleague, ensuring ongoing discussions related to emotional intelligence issues.
“Our team realized early on that responding to the emotional impact of a claim, the effects that a loss has on a family’s life and well-being, is often a more complex undertaking than addressing their physical property loss. We recognized that claims adjusters, risk managers and PURE Member Advocates® who were able to meet the emotional needs of our members were often more successful in creating delighted members,” said Gary Stephen, Senior Vice President of Claims & Risk Management for the PURE Group. “We’ve taken the lessons from these employees and seek to hire individuals who have a natural propensity toward empathy, and are working to increase these capabilities in our existing staff.”
PURE is committed to implementing purEQ screening and training for all roles in Claims, Risk Management, Underwriting, Sales and Marketing and Member Services by year-end.
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. As a member of The PURE Group, PURE is rated A- “Excellent” for Financial Strength by A.M. Best. In return for a fee, PURE Risk Management, LLC acts as Attorney-in-Fact for PURE. For more information or to find a local agent, visit pureinsurance.com.