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PURE Insurance's Commitment to Members in 2024

On May 1, 2025, Privilege Underwriters Reciprocal Exchange (PURE), a policyholder-owned insurance company, released its 2024 Report to Members, showcasing its commitment to service excellence and its proactive approach to preserving the homes of successful and responsible homeowners. In a world where insurance is often seen as an afterthought, PURE strives to change that perception, promoting a member experience that instills loyalty and trust.

Highlights of the 2024 Report

The report emphasizes several key initiatives that underscore PURE's mission of helping its members steer clear of common yet disruptive losses such as water damage and electrical fires. Here are some notable highlights from the report:

Expanded Loss Prevention Programs

In 2024, PURE introduced new loss prevention strategies that are aimed at minimizing the risk of preventable claims. This initiative included partnerships and technologies that empower members to protect their homes effectively.

Preventing Electrical Fires

A collaboration with Whisker Labs has led to the rollout of Ting, a smart sensor designed to detect electrical hazards before they become disasters. So far, over 30,000 members have installed Ting in their homes, resulting in the identification of nearly 150 potential electrical issues.

Preventing Water Damage

Additionally, PURE has introduced various solutions to combat water damage, including advanced sensors like LeakBot and Flume™, along with the PURE Watertight Home Check™, which provides members with expert assessments of their homes for potential water damage risks.

The results speak for themselves; in 2024, claims overall decreased by more than 10%, with significant drops in home fire losses (down by 37%) and water damage claims (down by 24%). These numbers reflect the proactive nature of PURE’s member base and their commitment to maintaining high safety standards in their homes.

Geographic Expansion

In a significant milestone, PURE ventured outside of the U.S. in September 2024, officially launching its services in Ontario, Canada. This expansion marks a new chapter for the organization, allowing them to welcome new members in the international arena. For more information about services in Canada, prospective members can visit pureinsurance.ca.

Recognition and Awards

PURE has received several prestigious accolades in 2024, solidifying its reputation within the insurance and wealth management sectors. They were honored as the Best High Net Worth Insurer by both Family Wealth Report and Private Asset Management. With a remarkable member retention rate of 95.7% and a claims satisfaction score of 91%, it’s clear that PURE is making waves in customer service excellence.

Financial Performance

Financially, PURE soared in its growth with direct written premiums climbing by an impressive 16% to reach $2.4 billion. Improved underwriting results contributed to a better net combined ratio of 100%, reinforcing PURE's strong market position and financial health.

A Message from the CEO

In his letter included in the report, CEO Martin Leitch expressed his hopes that members find comfort in knowing that PURE operates on a member-owned model, prioritizing their best interests. Leitch emphasized the ongoing commitment to building strong relationships founded on trust and service.

"Through every interaction, we strive to create a member experience so compelling that members never want to leave—we want them to love their insurance," said Leitch. In an industry where love for one's insurance policy is rare, PURE makes this aspiration a reality.

Looking Ahead

As PURE continues to move forward, they remain dedicated to offering smart coverage solutions and exceptional service to both existing and prospective members across the United States and Ontario, Canada. They encourage responsible high net worth families seeking reliable insurance solutions to consider joining their member-driven model.

For a full review of the 2024 report, visit purein.com/annual-report. With their solid foundation built on trust, innovation, and excellence, PURE Insurance is poised for continued success in the insurance domain.