Press Releases
PURE High Net Worth Insurance in Production with Guidewire ClaimCenter
High Net Worth Insurer Implements Guidewire ClaimCenter® to Provide Superior Claims Service and Provide Foundation for Growth
WHITE PLAINS, NY and SAN MATEO, CA, May 17, 2007 - PURE High Net Worth Insurance (PURE), a provider of property and casualty insurance products that address the unique exposure needs of High Net Worth individuals and families, and Guidewire Software® (Guidewire®), a leading provider of solutions to property and casualty insurers, today announced that PURE has deployed Guidewire's industry leading ClaimCenter system. Guidewire ClaimCenter will support the end-to-end claims process for all of PURE's lines of business, including high value homeowner's insurance, private fleet automobile, personal excess liability and jewelry & art.
PURE's mission is to be the premier provider of high net worth insurance products and services, and the company is committed to delivering this promise with uncompromising quality, integrity and value. To deliver on this commitment requires a proven claims system; PURE has implemented Guidewire ClaimCenter.
"Guidewire impressed us with a modern system that is easy to use, reliable, and flexible to best serve the needs of our members," explained Bob Khosropur, PURE's vice president, of Claims. "Guidewire had us up and running in just six months from our decision to move forward; we were in production even before we received our first claim."
With ClaimCenter, PURE's claims department gains a modern technology foundation enabling them to proactively address the marketplace through the use of business rules designed to control claims adjusting processes and reduce leakage while enabling the superior levels of customer service that PURE demands of their claims organization.
"The system needed to be solid, quick to implement, and not tied to a single technology platform. Guidewire provides an innovative design with incredible flexibility to change the user interface, business rules, and even the underlying data model in minutes. This promises to save us time and money in adapting to our growing business requirements," stated Mark Hill, PURE's senior vice president of Technology and Process.
ClaimCenter is a leading end-to-end claims system for property & casualty insurance. ClaimCenter's flexible business rules enable claims organizations to optimize and monitor the claim process. Claims executives can define, enforce, and continually refine their preferred claim handling practices. In addition, a modern technology architecture, providing 100% Web client, and Web services interface enable lower total cost of ownership in any environment.
"PURE is a dynamic company that clearly understands the sustainable benefits of a flexible and modern claims system, one that will grow with them as they penetrate the market," said Jeff Simpson, chairman and chief executive officer, Guidewire Software. "We are very pleased that they chose to deploy Guidewire."
About PURE
PURE High Net Worth Insurance is the first insurance company exclusively dedicated
to providing coverage to high net worth individuals. PURE entered the market
January 2007, and provides comprehensive coverage, including insurance for high
value homes, automobiles, excess liability, jewelry & art; and excellent
service to an elite membership.
PURE is owned by its members. At the end of each year, if the premiums paid by PURE members prove to be greater than the costs of the insurance policies, the balance is either returned in a dividend or credited to each member through a Subscriber Savings Account (SSA). PURE is a Florida domiciled reciprocal insurance exchange. For more information, please visit www.purehnw.com.
About Guidewire Software
Guidewire Software is a leading provider of technology solutions to property
and casualty and workers' compensation insurers. Guidewire delivers proven software
to run core insurance operations, including billing, underwriting, policy administration,
and claim management. The Guidewire Insurance Suite™; consists of Guidewire
ClaimCenter®, Guidewire PolicyCenter®, and Guidewire BillingCenter,
which provide a modern, web-based platform for all lines of business. Guidewire
is headquartered in San Mateo, California, with offices in Toronto, London,
Paris, and Sydney. For more information, please visit www.guidewire.com.
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