#United States #Somerset #CURE Auto Insurance #NJBIZ #Eric S. Poe

CURE Auto Insurance Recognized as 2024 Business of the Year

CURE Auto Insurance has been honored as the 2024 Business of the Year by NJBIZ, an accolade that highlights the company's significant achievements and its ongoing commitment to promoting fairness in the auto insurance sector. The announcement was made during a ceremony held on December 12 in Somerset, New Jersey, where various organizations were celebrated for their leadership and excellence in business.

Founded over 35 years ago, CURE Auto Insurance has positioned itself as a strong advocate for equity within the auto insurance industry. The company has consistently challenged discriminatory practices that affect consumers, particularly advocating for legislative reforms aimed at eliminating factors like credit scores, education levels, homeownership status, and occupation from rate-setting calculations. This commitment to fairness has solidified CURE's reputation as a champion for change in an industry often seen as inequitable.

The NJBIZ Business of the Year award has recognized exemplary companies since 2006, and winners across various categories are chosen by an independent panel of judges made up of prior honorees. This acknowledgment is a testament to CURE's sustained growth, which saw its revenue increase from $85 million in 2022 to over $144 million in 2023. CURE’s workforce has also expanded significantly, now boasting over 350 employees across three locations nationwide.

One of the most noteworthy accomplishments of CURE Auto Insurance this past year was its impressive doubling of policies in New Jersey, raising its policyholder base from 75,000 to more than 150,000 households. Such rapid growth is a direct reflection of the company's dedication to providing affordable car insurance options for a broader audience, irrespective of their income levels or financial backgrounds.

CURE’s CEO, Eric Poe, expressed his gratitude upon receiving the award, recognizing the hard work of his team. He stated, "It is an honor to have received this award and I share it with our entire team whose hard work cannot be understated. They tirelessly go above and beyond amid remarkable growth, something that is not always easy. It is also a testament that CURE is making an impact by staying true to our mission and advocating for fairness in car insurance rate-setting."

Poe emphasized CURE's commitment to fighting various forms of insurance fraud and its mission to ensure that car insurance remains affordable for everyone. The company aims to eradicate the reliance on income proxies in determining insurance rates, framing this fight as essential to increasing equity within the insurance landscape.

The history and evolution of CURE Auto Insurance are illustrated not only by its growth in clientele and revenue but also by its foundational mission. Founded in 1989 by New Jersey Insurance Commissioner James J. Sheeran and insurance expert Dr. Lena Chang during a critical period of insurance crisis in New Jersey, CURE's path has always been directed toward addressing these systemic issues head-on. Today, CURE serves nearly 200,000 drivers across New Jersey, Pennsylvania, and Michigan, specializing in no-fault insurance.

Eric Poe concluded by reiterating the importance of their work, stating, "Our goal is to ensure that people who buy car insurance can afford it." This philosophy underpins every operational and strategic move made by CURE Auto Insurance as it strives to not only expand its reach but also further its commitment to equitable insurance practices. For more information about CURE Auto Insurance, visit www.CURE.com or call 800-535-CURE.