InsCipher
Automated surplus lines tax filing and compliance for the insurance industry.
Executive Summary
InsCipher is a SOC-2 certified insurtech platform designed to automate surplus lines tax filing and compliance across all 50 US states. It offers a comprehensive solution for retail agencies, MGAs, brokers, and carriers to streamline their surplus lines operations. The platform, primarily through InsCipher Connect®, simplifies complex tax calculations, manages state-specific requirements, and ensures timely filings and payments. The core offering includes an intuitive cloud-based software for hands-on management, complemented by robust API integrations. These APIs allow seamless data transfer from existing agency management systems, enabling instant tax calculations, diligent form generation, and automated data import. InsCipher also provides a fully managed service option for clients preferring to outsource their entire surplus lines compliance process. By centralizing compliance, InsCipher helps insurance professionals reduce manual errors, save time, and mitigate the risks associated with non-compliance in the dynamic surplus lines market. Its focus on automation and integration aims to unlock greater efficiency and strengthen compliance for its users.
Use Cases
- Automating surplus lines tax calculations and filings for retail agencies.
- Streamlining compliance and reporting for MGAs and brokers across all 50 states.
- Integrating accurate surplus lines tax rates and diligent form generation into existing agency management systems via API.
- Ensuring timely payment of surplus lines taxes and state stamping fees.
- Managing and reconciling surplus lines tax obligations for carrier partners.
Features
Visibility
- Intuitive Cloud Portal: Access and manage all surplus lines compliance activities through a user-friendly, cloud-based interface.
- State E-Filing Tool: Submit large volumes of filings directly to eligible states within a single transaction, simplifying the submission process.
- Compliance Tracking: Monitor the status of filings, track deadlines, and view compliance data across all 50 states.
Intelligence
- Accurate Tax Calculation: Automatically calculates surplus lines taxes and state stamping fees with live, up-to-date rates for all US states.
- Automated Compliance Checks: Ensures adherence to state-specific regulations and requirements for surplus lines transactions.
Support
- Comprehensive Support Center: A hub for customer support, offering industry-specific knowledge, detailed product information, and a developer hub.
Technical Specifications
- Architecture
- Cloud-based platform with robust API integrations for data exchange and automation.
- Deployment
- SaaS
- Authentication
- SSO
- API Available
- Yes
Integrations
- Live surplus lines tax rates
- Forms
- State stamp wording
- Tax Calculation API
- Diligent Form API
Security & Compliance
Certifications: SOC 2
Pricing
- Model
- Subscription-based
- Starting Price
- Contact sales
- Target Customer
- SMB,Mid-Market,Enterprise
- Free Trial
- Yes
About InsCipher
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