The Fulcrum Group has partnered with international digital technology house Markit Systems, specialists in the insurance industry, for upgrades and enhancements to the organisation’s broker system, Fulcrum Flexi (Flexibroker).
Fulcrum Flexi is an integrated platform that enables the day-to-day business of the insurance industry, from policy and claims administration, insurance accounting management, through to communications and data-sharing.
Barry Scott, head of Fulcrum Delta at the Fulcrum Group, says, “We at Fulcrum recognised that Markit Systems’ interest and experience in this space aligns with our business needs to deliver on speed, agility and flexibility. The choice was therefore an easy one.”
Scott explains that this partnership will improve the insurer’s systems and see their clients benefit from the incorporation of new technology that will make for a streamlined system. “We are also being proactive by complying with both existing and anticipated regulatory legal and compliance standards and requirements.”
The major focus of the project is to provide clients with better efficiencies, allowing for broker independence.
Scott explains that this calls for the enhancement of a number of features including:
- Multi-quote functionality
- Hosted and online application in the cloud
- Functionality for real-time data integration with Insurers
- Automated processes and workflow modules
- Overall improved functionality
- Easy integration for various applications
The project is anticipated to be piloted in early 2019 with the current Flexi system running as normal until then. Once all aspects of the upgraded system have been completed, tested and approved, clients who use the system will be able to electronically transfer their data safely over to the new system.
“We will use various communication channels to ensure that our messages and our clients’ feedback are heard and taken into account by all parties. These channels will include emails, visits, newsletters, webinars, user workgroups, and a roadshow closer to the launch date,” says Vaughan Jones, CEO of the Fulcrum Group.
Simon Turner, director and founder of Markit System and a former insurance CEO, adds, “Our goal is to enable every Fulcrum client to do more business better”, and co-founder Nicholas Thurlow says it will be a game-changer for Fulcrum clients.