Cloud-based insurance coverage software program supplier Insurity has collaborated with InsCipher, which automates surplus traces tax submitting.
This collaboration goals to offer insurance coverage carriers, brokers and managing basic brokers (MGAs) with an answer that simplifies the administration of surplus traces taxes, lowering compliance challenges.
The combination of Insurity’s cloud-based coverage administration options with InsCipher’s tax automation software program permits for the switch of extra and surplus (E&S) coverage knowledge between platforms.
This automation facilitates automated tax processing, which may scale back transaction prices and errors, in addition to speed up submitting instances.
The alliance is anticipated to increase Insurity’s E&S tax options to its buyer base, offering an “end-to-end” compliance answer.
InsCipher gross sales and advertising VP Jason Russon mentioned: “InsCipher fills a essential position within the non-admitted insurance coverage business by means of its tax submitting platform. However with out connectivity and a seamless approach to get knowledge into our system, our answer is simply so efficient.
“Partnering with Insurity amplifies the effectiveness of the InsCipher platform and additional allows quick, correct and well timed surplus traces tax reporting.”
Insurity chief insurance coverage and chief income officer Sylvester Mathis acknowledged: “We’re excited to accomplice with InsCipher to reinforce the administration of surplus traces tax for our clients.
“This collaboration aligns with our dedication to offering modern options that allow insurers to streamline their processes. By way of this integration, our purchasers can enhance their compliance efforts, improve effectivity and scale back the executive challenges related to surplus traces tax.”
In November 2024, Insurity appointed Jonathan Victor as its chief working officer.
Victor will handle cloud operations, buyer success, enterprise safety, system integrator operations {and professional} companies.
