PURE Insurance Partners with VIP Software to Optimize Claim Expenses with Advanced Analytics

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Aug 21, 2024, 08:00 ET

LAKELAND, Fla., Aug. 21, 2024 /PRNewswire/ -- VIP Software, the premier provider of loss cost and vendor management solutions for insurers and service providers, proudly announces its collaboration with PURE Insurance to implement VIP Software's industry-leading vendor management platform, BAP, for precise vendor invoicing and comprehensive reporting.

VIP Software's claims expense management platform is meticulously designed to seamlessly integrate with PURE's XactAnalysis estimating platform, expediting implementation and ensuring a seamless user experience. PURE's decision to adopt the BAP platform was influenced by its widespread adoption among other carriers and vendors.

James Makris, Founder and CEO of VIP Software, remarked, "Through our partnership, PURE Insurance improves vendor invoice management through data-driven insights. Our platform's multi-line functionality and seamless integration with Guidewire Claim Center empower PURE to manage vendor invoicing seamlessly and accurately."

In today's insurance landscape, the ability for carriers to leverage software for automating back-office functions is paramount. This enables internal staff to focus on intricate tasks while ensuring precise billing and reporting, especially in an industry increasingly scrutinizing LAE.

Tiffany Alvey, Head of Home Office Claims at PURE, commented, "Reducing friction and eliminating tasks from our adjusters' day-to-day so they can focus on better serving our Members in their time of need is so important to PURE. We also wanted to partner with a solution that many of our vendors already embrace. Partnering with VIP Software reduces expense leakage and improves capacity for our adjusters." Shane Simonelli, VP Head of Claims Delivery at PURE added, "VIP's vast in-network vendor ecosystem and tight integration with Guidewire ClaimCenter were huge factors in our decision to partner on BAP, as vendor familiarity and ease of integration are critical to a successful rollout."

As VIP Software redefines vendor management, the company remains steadfast in providing indispensable tools and insights to empower service providers to excel in an ever-evolving insurance market.

About Pure Insurance

Privilege Underwriters Reciprocal Exchange (PURE) is 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's low cost of capital, careful member selection and proactive risk management contribute to fair pricing and a Financial Strength Rating of "A (Excellent)" from A.M. Best Company, Inc. PURE has sustained at least 15% annual growth in each year since its inception and now serves more than 100,000 members across the United States.

For more information visit: https://www.pureinsurance.com/

About VIP Software

VIP Software is the leading loss cost platform for insurers, offering billing automation and access to industry data for vendor pricing and performance. With a mission to streamline vendor management processes, VIP Software empowers insurers to make informed decisions and drive operational excellence.

For more information visit: https://www.vipsoftware.com/

SOURCE VIP Software