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40 Years of a Unique Approach to Insurance & their own Nerds Academy
Founded in 1981 under the name First Insurance Group, Fulcro Insurance, the largest insurance brokerage firm in Puerto Rico, celebrates 40 years of a unique approach to insurance. This week is also Insurance Nerd Week, which gives the collective an even bigger reason to celebrate as the Fulcro Team prides themselves in being the nerdiest of the Insurance Nerds.
“This is a chance to highlight this team’s passion to continue learning and expanding its knowledge in the insurance industry, in order to offer an increasingly complete service to our clients,” said Ramón Pérez Blanco, the company’s CEO and President.
In recent times, the terms “risk” and “uncertainty” have become common vocabulary, with hurricanes, earthquakes, and, more recently, the COVID-19 pandemic, highlighting the ever-growing importance of being prepared for the unexpected, on a personal and business level—and Fulcro’s team of Insurance Nerds have the experience, skills, education, and specialization to prepare their clients to do just that.
“Having turned 40 and gone through a generational change, we consider this an important achievement, especially during a time when the island has gone through so many challenges,” continued Pérez Blanco. “We are proud to know that, especially over the last 15 years, we have been able to develop talent, expand to the U.S., export services, and present cutting-edge solutions for our clients while handling complex claims.”
The Importance of Anticipating the Unforeseen & Preparing for the Unexpected
Pérez Blanco explained that managing risk involves two main aspects: trying to prevent something from happening, and dealing with the impact if something does happen, so it can be mitigated and financed. “At Fulcro, we advocate for a methodology in which that mindset is part of our clients’ DNA,” he said.
With offices in San Juan, Florida, Georgia, and the Dominican Republic, Fulcro focuses on recruiting specialized Insurance Nerds that allow them to convey that approach to its clients. “For this reason, we have people who are specialized in financial matters, such as attorneys and CPAs. We also work hand-in-hand with The Fiduciary Adviser, to offer integrated risk analysis that includes financial planning components,” he added.
What does it mean to be an Insurance Nerd?
Insurance is a very technical and regulated subject. Historically, Fulcro has always believed education is an integral part of doing business, and thus, the company has always been big on investing time and money in education because of the industry’s intricacy, emerging risks and constantly changing environment. Fulcro follows a philosophy that believes knowledge is power, and in turn, the company has always made it a priority to offer and maintain ongoing internal education programs to keep their team members informed, up to date and sharp in the latest insurance processes, compliances, and management skills.
“Knowledge is our core value. And, since we are always evaluating risks, reading, discussing policy wordings, and improving our understanding and expertise on highly technical subjects, we began referring to ourselves as ‘Nerds.’ At the beginning it was more like an internal joke. But then we realized that being nerdy is not a negative thing, it means we are highly technical, analytical and passionate about insurance,” shared Janyra Pérez Blanco, Fulcro’s COO.
And proud nerds they are, with a team made up of members with graduate degrees in Risk Management and Insurance, Surety Bond Producers, Juris Doctorates, CPAs, twenty-six (26) professional designations, and seven (7) candidates of additional professional designations.
A Focus on Technology
As part of its main objectives, Fulcro has been focused for several years on offering innovative digital tools to its clients. Pérez Blanco said the company hopes to continue investing in improving this area, “Our goal is to continue developing these technology platforms so our clients have multiple ways to take advantage of technology to improve the insurance and claims experience when interacting with us.”