Cloud-based insurance software provider Insurity has collaborated with InsCipher, which automates surplus lines tax filing.
This collaboration aims to provide insurance carriers, brokers and managing general agents (MGAs) with a solution that simplifies the management of surplus lines taxes, reducing compliance challenges.
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The integration of Insurity’s cloud-based policy administration solutions with InsCipher’s tax automation software allows for the transfer of excess and surplus (E&S) policy data between platforms.
This automation facilitates automated tax processing, which can reduce transaction costs and errors, as well as accelerate filing times.
The alliance is expected to expand Insurity’s E&S tax solutions to its customer base, providing an “end-to-end” compliance solution.
InsCipher sales and marketing VP Jason Russon said: “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.”
Insurity chief insurance and chief revenue officer Sylvester Mathis stated: “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.”
In November 2024, Insurity appointed Jonathan Victor as its chief operating officer.
Victor will manage cloud operations, customer success, enterprise security, system integrator operations and professional services.
