In a recent Scout InsurTech interview, InsCipher’s Jason Russon and Madeline Heintz shared insights into how InsCipher is transforming surplus lines tax filing.
Founded in 2015, InsCipher originated as a department within an MGA before evolving into a standalone insurtech company. Unlike many startups, InsCipher has grown organically without raising capital, maintaining 30-40% year-over-year growth.
Solving Industry Challenges
The insurance industry faces increasing challenges, especially as admitted markets tighten in high-risk states like Florida, Texas, and California. More businesses turn to non-admitted insurance, which requires complex compliance, tax filings, and strict deadlines.
InsCipher’s award-winning solutions help brokers, MGAs, and wholesalers navigate surplus lines compliance efficiently, ensuring states receive accurate, error-free filings while reducing costs for clients.
A Unique Approach to Surplus Lines Tax Compliance
Unlike traditional compliance services, InsCipher partners not only with MGAs and brokers but also with state regulators—streamlining processes to benefit all stakeholders. By improving regulatory workflows, InsCipher enhances compliance efficiency across the industry.
Looking Ahead
With the surplus lines market expected to reach $150 billion in annual premiums, InsCipher is focused on scaling operations and increasing market share by offering safer, more cost-effective tax filing solutions. Their mission? To make outsourcing surplus lines tax filing a no-brainer for the industry.
Comments