Fulcrum continues to fuel industry with SAIA appointment

Following 20 years of service to the insurance market as CEO of the South African Insurance Association (SAIA), Barry Scott will be joining the Fulcrum Group effective 1 December. Scott will work closely with Fulcrum CEO Vaughan Jones as Head: Projects and Integration.

Says Jones: “Our business has gone through a period of sustained and exciting growth. With the many opportunities facing us, coupled with our belief that Fulcrum is best placed to assist intermediaries with all their financial needs during  a  time of considerable change in the insurance landscape,  adding a team member like Barry - with his experience and desire to make a difference - is a real win for us.” 

Scott led SAIA during a period of unprecedented change in the depth and complexity of legislation facing the insurance industry. Jones comments: “Fulcrum is already a dominant player in the premium financing and collections areas of our industry. However, we see an increasing desire from intermediaries and underwriters not only for us to assist them with specialist and tailored lending products to enable growth within their businesses , but also to work with them in finding solutions to cope with their compliance,  regulatory demands as well as their increasing IT infrastructural and systems requirements. Assisting intermediaries with these functions allows them to do what they do best - advise, service and add value to their clients. Barry will work closely with me and our senior team in ensuring we continue to provide robust and relevant support and solutions to all our partners.” 

Scott Served as Chairman of the Inseta and the South African Nuclear Pool and will continue as a member of the Inseta board. He will also maintain his position on the Insurance Institute of SA’s board. Says Jones: “I am also delighted to have Barry work with Carel Nolte in our People&Brand team in driving Fulcrum’s commitment to enhancing and promoting education in our industry. It is no secret that I, and Fulcrum as a company, believe our industry is filled with talent and insurance must remain not only the bedrock of our society but the most attractive industry to pursue a career in. One of the privileges of my role as CEO is the ability to develop a team rich in its diversity. Barry’s experience adds to the mix perfectly.” 

Scott also served as a member of the Policy Board for Financial Services, an advisory body to the Minister of Finance; as a member of the Advisory Committee for Short-term Insurance; as a member of the Boards of the Ombudsman for Short-term Insurance, Business Against Crime, STRIDE, SA Insurance Crime Bureau, Intermediaries Guarantee Facility and the Financial Sector Charter Council. 

Jones concludes: “Fulcrum wishes Barry’s successor at SAIA all the best in continuing to be a powerful mouth-piece for the industry. We look forward to our ongoing partnership with the members of SAIA as we continue to make a real difference and drive innovation in our market for our customers.