Marlborough, MA – February 16th, 2023, Privilege Underwriters Reciprocal Exchange (PURE), a leading policyholder-owned insurer of high-net-worth individuals, has committed to a multi-year agreement extending its use of OneShield Enterprise to include OneShield’s pre-built catalog of APIs through the Services Designer tool and unlimited access and use of the extensive use case library.
The client relationship with PURE, going back 16+ years, is among OneShield’s longest and has been highly collaborative. “The technical and executive teams at PURE have been a constant source of new ideas and feedback on a wide range of our products and processes,” says OneShield’s former CRO Liza Smith. “This is the very definition of a successful client/vendor partnership – formed at the time PURE was a startup to writing over $2 billion in premiums today.”
Most recently, PURE and OneShield took the opportunity to advance their ongoing engagement model by identifying new best practices for sharing the latest technology developments, setting new goals for partnering at all departmental levels of PURE, and creating a formal plan to further enhance the OneShield Enterprise platform to support PURE’s rapid growth objectives. “For PURE, these new best practices will serve to further our team members’ capabilities and experiences of self-managing the technology platform while still accessing the latest knowledge and innovations being developed by OneShield’s engineering and product teams,” says Jason Lichtenthal, PURE’s SVP & Chief Information Officer.
OneShield’s Services Designer implements a collection of vendor and product-independent pre-configured APIs. This collection of services allows external applications to remotely execute business transactions on the OneShield platform. Any processing that has traditionally been tied to the user interface, or available solely within the platform, has been de-coupled and made available as-a-service. These services enable external systems to exchange data with the OneShield platform and expose insurance product definitions to third-party systems – enabling, for instance, portals or specialized functional applications such as risk management.
“We welcome this opportunity to deepen the connection between our two organizations,” says Smith. “Our commitment to aligning our respective teams with PURE’s strategic growth plans is just one reason they have been an advocate for OneShield, and we look forward to the next phase of this long-standing partnership.”
Privilege Underwriters Reciprocal Exchange (PURE) is a Florida-domiciled reciprocal insurer, dedicated to creating an exceptional experience for responsible high-net-worth families, providing customizable coverage for high-value homes, automobiles, jewelry, art, personal liability, watercraft, flood, fraud, and cyber fraud.
PURE has sustained at least 15% annual growth each year since its inception and now serves more than 100,000 members across the United States. PURE’s low cost of capital, careful member selection, and proactive risk management all contribute to highly competitive rates and a Financial Strength Rating of “A+ (Superior)” from A.M. Best Company, Inc.
For more information, visit pureinsurance.com
For more information or to schedule a media interview, please contact:
Kaitlyn Jakovcic Sr Product Marketing Manager OneShield
Email: kjakovcic@oneshield.com
OneShield develops and delivers modern, flexible core systems to P&C carriers and MGAs. Built for speed, configurability, and real-world operations, OneShield’s policy administration, billing, and claims products have a proven track record helping insurers modernize without the cost, risk, and timelines typically associated with other vendors. Today, insurers process over $15B in premiums on OneShield platforms.
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