NJ PURE

Overview

Introducing NJ PURE: Revolutionizing the Insurance Industry

In the tumultuous world of insurance, where stability and integrity are often hard to come by, NJ PURE stands out as a beacon of hope. Founded in 2002 by James J. Sheeran, former New Jersey Insurance Commissioner, and Lena Chang, Ph.D. in mathematics and renowned actuarial science expert, NJ PURE has been at the forefront of solving some of the most pressing insurance crises in history.

The journey of NJ PURE began in the 1970s when New Jersey physicians faced a medical malpractice crisis. Two of the largest insurers, St. Paul and Argonaut, had plans to withdraw from the state, leaving doctors in a state of uncertainty. It was then that James J. Sheeran proposed a groundbreaking solution - a not-for-profit reciprocal exchange. By licensing the state's first reciprocal exchange, Healthcare Insurance Exchange (HCIE), and Medical Inter-Insurance Exchange (MIIX), Sheeran successfully ended the crisis and brought stability to the market.

Building on this success, Sheeran and Dr. Chang joined forces to tackle other insurance crises. They created CURE Auto Insurance (formerly NJ CURE) to solve the auto insurance crisis in New Jersey and AIM (formerly MEIE) to address the workers' compensation crisis in Massachusetts. Their visionary approach and deep understanding of actuarial science allowed them to bring long-term solutions to these volatile markets.

With a track record of success spanning over four decades, NJ PURE has become synonymous with integrity and stability in the insurance industry. In 2002, as the medical malpractice industry faced yet another crisis, Sheeran and Dr. Chang were approached by physicians seeking a reliable and trustworthy insurance provider. Answering the call, they founded NJ PURE with the same objective - to bring long-term vision and integrity to end another insurance crisis.

What sets NJ PURE apart from its competitors is its commitment to being a not-for-profit reciprocal exchange. This unique structure ensures that the company's focus remains on serving its policyholders rather than maximizing profits. By operating as a reciprocal exchange, NJ PURE is owned by its policyholders, who have a say in the company's operations and benefit from any surplus generated.

Employees at NJ PURE find themselves in an exciting and fulfilling work environment. The company's rich history and mission to bring stability to volatile insurance markets create a sense of purpose and meaning in their work. The opportunity to be part of a team that has successfully solved multiple insurance crises is not only intellectually stimulating but also emotionally rewarding.

Furthermore, NJ PURE's commitment to integrity and long-term vision translates into a strong corporate culture. Employees are encouraged to think outside the box, challenge the status quo, and find innovative solutions to complex problems. The company fosters a collaborative and inclusive environment, where every voice is heard and valued.

Working at NJ PURE also provides employees with unique professional growth opportunities. The company's expertise in actuarial science and its innovative approach to insurance make it a leader in the industry. Employees have access to cutting-edge knowledge and resources, allowing them to continuously develop their skills and stay ahead of the curve.

In addition to the intellectual and professional benefits, NJ PURE offers its employees a competitive compensation package and a comprehensive range of benefits. The company recognizes the importance of work-life balance and provides flexible work arrangements to accommodate the diverse needs of its workforce.

In conclusion, NJ PURE is not just another insurance company. It is a trailblazer, a visionary, and a force for positive change in the industry. With a rich history of solving insurance crises and a commitment to integrity and long-term vision, NJ PURE offers employees an exciting and fulfilling work environment. Joining the NJ PURE team means being part of a company that is revolutionizing the insurance industry and making a real difference in the lives of policyholders.