New York, New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- NEW YORK, August, 2, 2023 – INSTANDA announces a new partnership with InsCipher, a Utah-based insurtech corporation specializing in automation of surplus tax calculation and tax filing for surplus lines. Through its no code software, INSTANDA enables carriers, MGAs and others serving the insurance industry to build and implement complex products quickly and efficiently.
Through this partnership, carriers and MGAs can access accurate and up-to-date surplus lines tax rates across all 50 U.S. states. This reduces the time and effort spent on both implementation and ongoing data maintenance, freeing the company from having to manually monitor rate changes.
In short, this new partnership enables carriers, managing general agents and related insurance businesses to experience:
- Faster filing times for surplus lines taxes.
- Increased confidence in their regular upkeep with local tax requirements.
- Increased accuracy in surplus tax filings to maintain compliance.
"Our clients turn to us to consolidate compliance requirements and to simplify and manage efficient and accurate surplus lines tax filings,” said Jason Russon of InsCipher. “Our new partnership with INSTANDA delivers that service directly to their policy administration platform, ensuring surplus line tax compliance for states and agencies remain accurate and timely.”
INSTANDA’s cloud native insurance platform has provided critical support and innovation to more than 100 carriers and MGAs around the globe, empowering them to launch new products and portals in record time.
“We are excited to partner with InsCipher to take their insurers’ businesses to the next level,” said Tim Hardcastle, INSTANDA’s CEO and Co-Founder. “Through integration with InsCipher in tandem with INSTANDA, insurers can move more quickly and with greater accuracy in an environment where timely access to digital data, as well as precision-like tax filings, are mission critical for businesses.”
About INSTANDA
INSTANDA offers a complete digital platform for innovative insurers. Whether digitizing your entire business, or launching a new innovative product, INSTANDA provides everything you need to transform your value offering for the modern world. Visit instanda.com/us to find out how INSTANDA helps insurers deliver unparalleled value for its clients.
About InsCipher
InsCipher is a leading insurtech company specializing in surplus lines tax automation, empowering insurance companies to accelerate their surplus lines tax filing and reporting. Our tailored solutions cater to the unique needs of insurance agencies, allowing them to choose the approach that best fits their demographics and requirements. InsCipher’s experienced team of compliance and software experts are driven by a commitment to treat our clients’ businesses as our own. Join the community of professionals relying on InsCipher to simplify surplus lines compliance, save time, and reduce costs.
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