Ensuring growth through outsourcing services and cloud computing
- Published on Friday, 03 June 2011 00:00
As the saying goes, you can never have too much insurance.
But which insurance? The din of TV ads featuring the gecko, Flo, and the phrases "like a good neighbor" and "good hands" is just part of the industry's $5.1 billion spending on advertising in 2010, according to SNL Financial. That makes it hard to stand out.
One small reciprocal insurer, however, is making some noise with its fast-paced growth and member-focused business model. PURE (the name is an acronym for Privilege Underwriters Reciprocal Exchange), a member-owned specialty insurer for high-net-worth individuals, recently signed on its 10,000th policyholder (member).
Launched in 2006 by three former executives from the American International Group (AIG) Private Client Group, PURE is using technology -- outsourcing services, cloud computing and telecom in particular -- to cut costs, deliver services and expand into new states. PURE's growth, however, is more than just about the technology. It's about IT innovation: weighing strategic versus tactical technology, prioritizing needs, and creating a culture of innovation that keeps the company moving forward because of IT, said Senior Vice President and CIO Stuart Tainsky.
Keep reading the original article by Scot Petersen at techtarget.com
"When selecting an eBilling solution, we wanted a system that could be implemented quickly and capture the greatest number of customers. Striata's solution makes customer participation easy and allowed us to achieve our objectives very rapidly." 