Fulcrum CollectDirect™

Fulcrum offers two electronic systems for insurance premium collections and management, providing effective, automated solutions that meet every client’s requirement.

Fulcrum CollectDirect™

Fulcrum CollectDirect is an insurance premium collections and management solution that collects premiums from policyholders and deposits directly into the respective insurer’s bank account, removing the need for IGF cover.

Fulcrum manages the entire process, including handling reconciliations, unpaid reconciliations and queries.

For the insurer, Fulcrum CollectDirect has completely de-risked the process and removing the need for IGF cover because the premium is in the insurer's bank account from day one.

Fulcrum CollectDirect accommodates all policy management systems, including Fulcrum’s own Flexi system.

The system is fully compliant with the Short-Term Insurance Act.

For more information on Fulcrum CollectDirect™, please email us on info@fulcrum.co.za.

Fulcrum Collections

We offer insurance brokers, UMAs and insurers an effective electronic debit order collection service.

Our IGF guarantee allows us to collect premiums on behalf of our clients, disburse commission and fees to brokers, UMAs and insurers, and pay over premiums to insurers and any other approved parties.

Fulcrum’s debit order collection service runs in an automated environment, with premium collection information readily available through the Fulcrum Flexi interface. 

Because Fulcrum enjoys established, strong relationships with all major insurance companies. Fulcrum Collections is able to cater to clients with books of business underwritten by multiple insurers.

We currently hold the following insurance guarantees:

  • Professional Indemnity Cover
  • Fidelity Guarantee Cover
  • IGF Guarantee

For more information on Fulcrum Collections, please email us on info@fulcrum.co.za.

Fulcrum has developed a Premium Reconciliation Tool to identify unreconciled payments against premium debit notes, allowing for a smoother month-end process. This service is available to our clients who use both the Fulcrum Collections and Fulcrum Flexi offerings.

This is how it works: the Fulcrum Flexi team runs a premium reconciliation tool data script extract on the client’s server; this data, along with the Collections data, is then uploaded into the Fulcrum Premium Reconciliation Tool and matching algorithms are run. Reports are produced detailing the results of the algorithms, to identify items that require reconciliation. 

These reconciling items, categorised for ease of identification, will be provided to the client to make amendments in the following month’s Flexi bordereaux. Manual deposits will also be identified as items to be reconciled, and will be included in the report.

Corrections or amendments of reconciling items remain the responsibility of the client, as does the day-to-day management of policies in Flexi.

Fulcrum will provide the client with training on the process of carrying out reconciliations from the reports.

Please note that this service offering is limited to insurance premiums only, and excludes non-insurance type debit order collections.

For more information on the Fulcrum Premium Reconciliation Tool, please email us on info@fulcrum.co.za.