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Insurity Partners with InsCipher to Streamline Surplus Lines Tax Filing
Slice of Finance Team
12 Mar
Key Highlights:
Insurity and InsCipher announce a partnership to streamline surplus lines tax compliance for insurers.
Seamless integration of Insurity’s cloud-based policy admin solutions with InsCipher’s tax automation software.
Automated tax processing reduces transaction costs, errors, and administrative burden.
Enhanced compliance capabilities for insurance carriers, brokers, and MGAs.
Faster, more accurate surplus lines tax reporting improves operational efficiency.
Source: Business Wire
Notable Quotes:
“InsCipher fills a critical role in the non-admitted insurance industry through its tax filing platform. But without connectivity and a seamless way to get data into our system, our solution is only so effective. Partnering with Insurity amplifies the effectiveness of the InsCipher platform and further enables fast, accurate, and timely surplus lines tax reporting.”
"We are excited to partner with InsCipher to enhance the management of surplus lines tax for our customers. This collaboration aligns with our commitment to providing innovative solutions that enable insurers to streamline their processes. Through this integration, our clients can improve their compliance efforts, increase efficiency, and reduce the administrative challenges associated with surplus lines tax."
Why This Matters:
Surplus lines tax compliance is a complex challenge for insurers, requiring precise tracking, filing, and adherence to changing regulations. By integrating Insurity’s cloud-based policy administration system with InsCipher’s tax automation software, this partnership significantly reduces compliance burdens. Insurers can now automate tax reporting, minimize errors, and improve operational efficiency, enabling them to focus more on business growth and customer service rather than regulatory hurdles. This collaboration reinforces Insurity’s position as a leader in the P&C and E&S insurance markets while expanding InsCipher’s reach within the industry.