Fast Forward's insurance offers customised premiums

A SELF-INSURED product is being offered by Fast Forward, which says it is the only distribution company in southern Africa with this facility.
Managed by Guard Risk, the cargo insurance product is brokered by Price Forbes. It places Fast Forward in a position to be in control of the fund.
Thanks to the critical mass we enjoy, the product has the capacity for flexibility in the determination of premiums, and there is no fixed price, says Luke Mabaso, Fast Forward's manager, strategic marketing.
To the contrary, premiums are customised around clients, providing a more personal foundation for the company-client relationship, he says.
The four-year-old fund is performing well, he says, with the company's internal claims administration system playing a crucial role in both assessing and validating or rejecting any claims received.
Settlements are also expedited through the internal function, says Mabaso. The fund has demonstrated an ability to pay claims while carefully managing the risk exposure to the company.
The growth and uptake of the fund in recent months has been particularly rewarding, evidence of its acceptance in the market place.