InsCipher is an insurtech company. They seek to educate and empower individuals throughout the excess and surplus lines market, so brokers can file compliantly and states can save time and resources sifting through errors. Michael Fiedel sat with Product Marketing Manager, Madeline Heintz, and VP of Sales and Marketing, Jason Russon, to learn more about how InsCipher is impacting the industry.

Who are InsCipher’s clients?
Our clients are typically brokers, MGAs and others dealing in the surplus lines market, also known as E&S.
What does your product do?
Our award-winning product suite is designed to help clients responsibly write surplus lines business. Operating outside of the admitted market allows for quicker access but comes with many rules, regulations and extensive paperwork. We simplify this process by ensuring states receive clean, accurate information by helping clients follow state regulations efficiently.
How much capital have you raised?
We have not raised capital. We’ve been growing comfortably and organically since we started in 2015.
Was the company born from within or outside the industry?
We were born from within the industry. The company originated as a department of an MGA that faced challenges writing non-admitted business. Other MGAs noticed our success and asked for similar solutions. This organic demand led to the growth and eventual standalone creation of InsCipher.
What growth metrics have you accomplished over the last 12 months?
We’ve consistently achieved 30-40 percent year-over-year growth. While 40 percent of a larger base represents significantly higher sales volume, we’ve been maintaining this growth rate, including in the last 12 months.
Within your domain, what is the current challenge the industry is facing?
The primary challenge is the increasing difficulty of placing insurance in the admitted space, especially for commercial properties in states like Florida, Texas and California, which face risks from natural disasters. Many are turning to the non-admitted market, which, while quicker to market, comes with unique challenges such as complex compliance, research, deadlines and paperwork.
Often, clients come to us after receiving compliance notices from the state. We’ve filed taxes on billions in premium over the years, learning extensively along the way. Our goal is to help clients navigate these complexities, ensuring compliance while reducing costs.
How does InsCipher take a unique approach to providing value?
We focus on being a partner not only to MGAs and wholesalers but also to the states that process filings. States implement regulations to protect consumers and often work with limited resources. By making their jobs easier—through streamlined, error-free processes—we ensure smoother compliance for all stakeholders. This approach benefits both MGAs and the regulatory bodies, fostering cooperation rather than conflict.
What inspired the team to start this company?
The inspiration came from firsthand experience with the challenges of surplus lines tax filing. Initially, we developed a robust filing department within an MGA to avoid the costly penalties of minor filing errors. This success caught the attention of other MGAs, leading us to provide services industry-wide.
What started as a department became a standalone company, offering an end-to-end surplus lines tax filing solution. While the growth was somewhat serendipitous, it was driven by the clear need for better solutions in the industry.
Can you share any goals you have for the company over the next 12 months?
Our primary goal is to continue scaling with the growing surplus lines market, which is projected to reach around $150 billion in annual premiums in the coming years.
We aim to increase market share by doing a better job than anyone else in terms of accountability and efficiency. Our goal is to make outsourcing to us a no-brainer—delivering surplus lines tax filing services that are safer, cheaper and more efficient than what companies can achieve internally.