Fulcrum: Powering Premium Collection and Premium Finance

A dynamic, functioning insurance sector involves countless interactions between diverse stakeholders, each with a specific role. If any of these stakeholders drops the ball, even for a moment, they risk undermining the protection insurers and underwriters offer to businesses and households across the economy.

Premium collection and premium finance champions

Fulcrum is an innovative brand working tirelessly to enable brokers, insurers and other financial services brands to succeed in the competitive insurance and insurance broking disciplines by giving them an edge in crucial areas like premium collection and premium finance.
We help you to achieve the cost efficiencies and transactional scale that your FSP needs, freeing up your time to concentrate on what you do best.

Over more than two decades since our launch, the Fulcrum Group has become the largest independently owned premium collection and premium finance provider in South Africa, offering simple, safe and cost-effective solutions to financial services clients countrywide. Today, our business boasts a diverse leadership team with years of experience in insurance and finance, with intimate knowledge of how these important sectors interact.

Independence stands out as a major differentiator in the South African insurance sector, and we believe our ‘licence neutrality’ has helped us to successfully navigate some of the most difficult years that the domestic premium collection sector has faced. This independence has also proven invaluable in building trust-based relationships with broker-facing, traditional insurers and leading brokers.

We see things differently

Our brand promise is that “we see things differently” which probably explains why we migrated towards the complex premium collection and premium finance disciplines. We see and do things differently in a range of other activities, too, offering foreign exchange services, claims handling, deposits, payments and non-insurance collections for insurers, intermediaries and other financial services clients.
Fulcrum Premium Finance, one of our two core divisions, ensures the best deal for your clients (policyholders) without negatively impacting your premium-related cash flows. We offer a finance solution that assists your commercial clients in managing and achieving their cash flow targets and growing their businesses hassle-free. Some of the key reasons to consider this solution are improved cash flows, reduced administration, simplified insurance portfolios, and VAT input optimisation.

Our second core division, Fulcrum Collections, finds favour among brokers and insurers because it offers an independent, licence-neutral premium collection facility underpinned by longstanding relationships with both broker-facing insurers and broker management system providers (BMSs). Our innovation and market leadership in this space are evidenced by the fact that Fulcrum pioneered the direct collection concept when we launched Fulcrum CollectDirect™ into the market.

Taking reg and tech in our stride

Premium collection and premium finance are compliance-heavy, technical activities. As a company specialising in these areas, Fulcrum has had to adapt to South Africa’s evolving regulatory framework and position itself for the accelerated development and adoption of technology.

Going forward, both our Legacy and Fulcrum CollectDirect™ premium collection services will run on a cloud-based Cirrus system. The Fulcrum AirCollect™ model is set to become the most exciting addition to our new platform, allowing us to split debit order collections ‘in the air’ so to speak.

These trademarks sound like something you would encounter in a sci-fi film; but they are just part of our innovative, ongoing response to a challenging macro environment. You can rest assured that we will continue to develop and evolve both our premium collection and premium finance solutions to meet legal and regulatory requirements and to assist you in future-proofing and de-risking your business.

Overall, a win-win-win for Fulcrum and our clients is the scenario where insurance brokers can focus on risk advice – UMAs can invest time in structuring niche and specialist solutions – and underwriters can manage their risk exposures – all with peace of mind that the premium flows their insurance-related business activities generate are taken care of, optimally. By taking care of these details: we help clients to de-risk their operations while introducing the cost efficiencies and transactional scale necessary to support operational excellence.

Jade Jensen
Managing Director
Fulcrum Collections