Insurance is a people business. It was created to buffer economic shock and prevent financial ruin. It keeps individuals, families, businesses, and even pets safe from unexpected tragedies.
It’s people helping people.
The Challenges of Human Error
However, human error is one of the biggest challenges that companies face. As humans, we are messy and we make mistakes. Learning and growing is what makes life beautiful. But it doesn’t always make your business run smoothly.
Your employees have great people skills. But they don’t always have the best typing skills. Or the best grammatical skills. Or the best calculation skills.
Human error can lead to timely or costly mistakes. So how can businesses combat it?
Technology as a Solution
You can’t replace people with technology. However, technology can make your people more efficient.
Investing in technology to automate important business processes can remove human error. All while keeping humanity at the forefront.
Technology gives your employees the chance to do what they do best: be human and interact with your human clients. It can be used to compliment the skills your employees already have. Instead of spending time on tedious tasks, your employees can dedicate more time to developing meaningful connections with your clients.
Here at InsCipher, we think keeping people at the forefront of your insurance business is the key to success. Which is why we want to simplify surplus lines tax filing and free up your employee’s time.
We offer a variety of solutions to make your people more efficient. Some of which include:
Trying to keep track of changing surplus lines tax rates, regulatory requirements, and deadlines for all 50 states is time-consuming and stressful. InsCipher’s Access™ Surplus Lines Tax Calculator API removes this burden, aggregating up-to-date information for all 50 states into a single database! Read More.
Surplus Lines Tax Filing Services
Whether you’re new to surplus lines tax filings or trying to free up time to grow your business, one thing is true – surplus lines tax filings are complicated. Between different state requirements and reporting periods, it is hard to track all the different deadlines. Let InsCipher help with your surplus lines filing services. Read More.
Managing passwords for multiple licenses in multiple states can be overwhelming. Storing them in unsecured spreadsheets is also a risk. Additionally, when a password is changed, it isn’t always updated in your spreadsheet. This can make it difficult to access your account in the future. Here at InsCipher, we have developed a new solution to help you navigate these difficulties. Read More.
When filing surplus lines taxes and reports, many states have required tax and reporting forms that need to be completed, whether they be a PDF or Excel template. Downloading these templates, filling each individual one out, and reuploading them can be very time-consuming. Our newest feature, PDF Cipher, will help to solve this problem. Read More.
InsCipher will apply for and manage renewals for your licenses across all the states you write business. Our knowledge of reciprocity laws will cut down on application time, saving time and money. Read More.
Related Articles
Creating Frictionless Workflows
Surplus lines are fairly complicated. We have different states with different tax rates. We have different tax types and different policy types as well. So how do we create frictionless workflows in the surplus lines business? Read More.
Lack of Modernization Limits the Surplus Lines Industry
The surplus lines regulatory environment makes it possible for Insurtech companies to offer novel and innovative insurance products. Unfortunately, the lack of modernization has not kept up with the rapid advancements envisioned by Insurtech companies. We must innovate to secure the future of the surplus lines industry. Read More.
