Cloud-based insurance coverage software program supplier Insurity has collaborated with InsCipher, which automates surplus strains tax submitting.
This collaboration goals to supply insurance coverage carriers, brokers and managing basic brokers (MGAs) with an answer that simplifies the administration of surplus strains taxes, decreasing compliance challenges.
The mixing 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 information between platforms.
This automation facilitates automated tax processing, which may cut back transaction prices and errors, in addition to speed up submitting occasions.
The alliance is anticipated to develop Insurity’s E&S tax options to its buyer base, offering an “end-to-end” compliance answer.
InsCipher gross sales and advertising and marketing VP Jason Russon mentioned: “InsCipher fills a vital function within the non-admitted insurance coverage business by means of its tax submitting platform. However with out connectivity and a seamless technique to get information into our system, our answer is barely so efficient.
“Partnering with Insurity amplifies the effectiveness of the InsCipher platform and additional permits quick, correct and well timed surplus strains 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 strains tax for our clients.
“This collaboration aligns with our dedication to offering modern options that allow insurers to streamline their processes. By means of this integration, our purchasers can enhance their compliance efforts, enhance effectivity and cut back the executive challenges related to surplus strains 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} providers.
