Brolink has entered the premium collection market. Says the company’s CEO, Howard John, “After a very successful pilot programme, and working through a number of legislative issues that arose during testing, we are delighted to announce that we have gone live with a competitive premium collection offering.
“We've got the legislation right, we've got the notices right, we've got the system right and we’re open for business.”
John says the premium collection space was ripe for a new provider.
“Traditionally, insurers and brokers have had very little choice when it comes to placing collections business,” he says. “We felt there was room in the market for another player to make the segment more competitive. Additionally, we have the skills and knowledge in-house to handle the premium collection process efficiently and effectively, which allowed us to come to market relatively quickly.”
Insurers have been very supportive of Brolink's new offering and there are already several deals in place.
All new business is being signed up under the FSCA’s current regulations for premium collection. Funds collected are deposited directly into insurers’ bank accounts, as per FSCA requirements.
Trustworthy service provider
“Brolink has been operating in the South African insurance market for 25 years,” says CFO, Farzana Tayob. “Over that time, we have amassed a vast amount of institutional intelligence and developed a reputation as a trustworthy service provider. We have a strong team with many years' experience and access to cutting edge technology that integrates seamlessly with all insurance and accounting systems.
“In addition, bank statements can be automatically reconciled in the client's accounting system, which is a huge time-saving feature that also dramatically reduces the risk of human error.
“Clients moving to Brolink will also be pleased to note that their referencing conventions will stay the same on their bank statements.”
All collections are managed on Brolink’s own platforms, which have been developed and are maintained and updated internally.
The premium collections offering complements Brolink's existing premium finance and broker finance products.
Premium collections queries can be directed to Nadia.Vanniekerk@brolink.co.za
083 651 5141