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Corptax Insurance Solution from Corptax
A comprehensive tax solution specifically designed for insurance companies. Features include automated tax data collection and management, tax provision calculations, compliance with insurance-specific regulatory requirements, state apportionment, and robust reporting capabilities.
Product analysis by function
Tax Management Software for Finance and Accounting
Tools that address the complex tax requirements of insurance companies, including premium taxes, federal income taxes, and international tax considerations.
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Regulatory Compliance
(11 Yes /11 Known /12 Possible features)
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Regulatory Updates System is regularly updated with latest tax codes and regulations. |
Corptax Insurance Solution is marketed as being updated for compliance; vendor mentions compliance with evolving insurance-specific requirements. | |
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Jurisdictional Coverage Number of regions/countries supported for compliance. |
No information available | |
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Audit Trail Comprehensive tracking of changes for compliance and auditing purposes. |
Audit trail is a standard requirement in tax/regulatory reporting; Corptax site references audit and compliance controls. | |
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Filing Assistance Guided workflows for regulatory filings (e.g., premium, income, sales taxes). |
The product provides guided workflows for filing, including premium/income/sales tax per marketing material. | |
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Statutory Reporting Automatically generates regulated statutory and compliance reports. |
Automated statutory reporting is referenced in product page as meeting regulated compliance. | |
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Legal Entity Mapping Ability to map and manage multiple legal entities to their unique compliance requirements. |
Product supports management of multiple legal entities, as is required for insurance groups. | |
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Exemption Management Tracks, applies, and reports on tax exemptions for specific products or entities. |
Tax exemption management is specifically referenced in Corptax documentation for insurance clients. | |
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Retention Policy Management Automated data/document retention in accordance with legal requirements. |
Automated retention policies are included for compliance with regulations, based on Corptax support materials. | |
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Global Tax Support Supports regulatory requirements for multinational & cross-border transactions. |
Supports multinational compliance; Corptax Insurance handles cross-border and multinational requirements for insurers with global operations. | |
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Regulatory Alerting Notifies users of upcoming or recent changes in relevant tax legislation. |
Regulatory alerting is mentioned as a feature for keeping up with tax codes and legislative changes. | |
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FATCA/CRS Compliance Ensures product supports reporting under the US Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS). |
FATCA/CRS reporting mentioned as available on request for insurance clients. | |
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Insurance-Specific Tax Compliance Supports unique insurance-related tax requirements (e.g., premium taxes, excise taxes). |
Compliance with insurance-specific premium and excise taxes is a stated focus in product documentation. |
Integration Capabilities
(0 Yes /0 Known /10 Possible features)
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Core System Integration Direct connectivity with insurance policy administration, claims, and billing systems. |
. | No information available |
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ERP Integration Support for standard integration with ERP systems (SAP, Oracle, etc.). |
. | No information available |
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Data Import/Export Ability to import/export transactional data in common formats (CSV, XML, API, etc.). |
. | No information available |
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Bank Connectivity Interfaces with banking systems for tax payments and reconciliations. |
. | No information available |
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API Availability Accessible APIs for custom integrations. |
. | No information available |
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Single Sign-On (SSO) Supports enterprise identity management for seamless user access. |
. | No information available |
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Cloud Data Connectors Ready-to-use connectors for popular cloud storage and SaaS applications. |
. | No information available |
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Data Validation on Import Automated validation and reconciliation of data on system entry. |
. | No information available |
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Third-Party Service Integration Pre-built integration with third-party compliance, analytics, and document management services. |
. | No information available |
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Custom Integration Toolkit Comprehensive developer toolkit for building bespoke integrations. |
. | No information available |
Tax Calculation and Filing
(10 Yes /10 Known /11 Possible features)
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Premium Tax Calculation Automatically calculates insurance premium taxes across jurisdictions. |
Automatic insurance premium tax calculations are a core offering for insurance vertical. | |
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Federal Income Tax Calculation Supports all aspects of corporate federal income tax calculation. |
Federal corporate income tax support is part of Corptax core and Insurance Solution. | |
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Deferred Tax Management Tracks and calculates deferred tax assets and liabilities. |
Deferred tax assets and liability management are standard features, per Corptax solution briefs. | |
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Real-time Calculation Speed Time taken to perform tax calculation for a typical transaction batch. |
. | No information available |
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Multi-state/Province Tax Calculation Handles calculations for entities operating in multiple regions. |
Multi-state/province support is a foundational feature for insurance tax compliance; confirmed. | |
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Tax Withholding Support Manages and automates withholding requirements where applicable. |
Withholding tax support mentioned in insurance vertical for companies operating in areas with such obligations. | |
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Batch Filing Processing Enables submission and processing of tax filings in batch mode. |
Batch processing for filing is specifically listed as a product feature. | |
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Adjustments and Reconciling Supports adjustments to tax calculations for prior errors or changes. |
Support for adjustments and reconciliation listed on the product page and implementation FAQs. | |
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International Tax Support Calculates taxes for cross-border operations, considering treaties and local laws. |
International tax support discussed in Corptax for global clients; supports treaties/local laws. | |
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Auto-Filing Enables direct or guided electronic submission to tax authorities. |
E-filing and auto-filing to authorities is described in product materials. | |
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Payment Processing Facilitates automated payment of tax liabilities. |
Automated tax payment processing is indicated as part of the insurance suite. |
Reporting and Analytics
(0 Yes /0 Known /11 Possible features)
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Custom Report Builder Ability to design and save custom reports. |
. | No information available |
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Scheduled Reporting Automated report generation based on predefined schedules. |
. | No information available |
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Drill-down Analytics Interactive analysis with the ability to drill down into transactional and summary data. |
. | No information available |
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Export Formats Number of supported export document formats (PDF, Excel, etc.). |
No information available | |
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Dashboards Real-time visual dashboarding of compliance and financial metrics. |
. | No information available |
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Variance Analysis Compares actuals vs. expected or budgeted tax positions. |
. | No information available |
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Statistical Analysis Tools Built-in tools for tax trend and anomaly identification. |
. | No information available |
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Report Distribution Automated and secure distribution of reports to stakeholders. |
. | No information available |
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Visualization Options Number of graph/chart types supported in dashboards. |
No information available | |
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Audit Reporting Dedicated reports for internal and regulatory audit processes. |
. | No information available |
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Ad-hoc Report Generation Ability to quickly generate reports with custom filters and criteria. |
. | No information available |
User Experience and Accessibility
(1 Yes /2 Known /10 Possible features)
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Role-based Access Control Customizable security and permissions based on roles. |
. | No information available |
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Multi-language Support Number of languages the interface and reports are available in. |
. | No information available |
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Mobile Access Availability of full-featured mobile or tablet versions. |
Not as far as we are aware.* No marketing reference or documentation of mobile/tablet full-featured support for Corptax Insurance Solution. | |
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Web-based Interface Accessible via browser, removing dependency on local installs. |
Corptax is a web-based SaaS platform accessible via browser. | |
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Customizable Workflows Users can modify and automate their workflows for specific processes. |
. | No information available |
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Accessibility Compliance System adheres to recognized accessibility standards (such as WCAG). |
. | No information available |
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User Self-service Configurations Users can configure personal preferences, dashboards, and notifications. |
. | No information available |
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In-app Help & Tutorials Integrated walkthroughs and help resources. |
. | No information available |
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Multi-Tenancy Supports multiple companies/entities within a single instance. |
. | No information available |
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Keyboard Navigation Full keyboard accessibility for fast, efficient navigation. |
. | No information available |
Security and Privacy
(6 Yes /6 Known /10 Possible features)
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Encryption at Rest All data is encrypted while stored. |
Vendor states all customer data is encrypted at rest. | |
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Encryption in Transit Data is encrypted while being transmitted. |
Data in transit is encrypted in Corptax according to their security disclosures. | |
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Multi-factor Authentication User access requires more than one form of verification. |
Multi-factor authentication is supported as a security measure. | |
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GDPR/CCPA Compliance Adheres to European and Californian data privacy laws. |
Product literature indicates compliance with GDPR and CCPA. | |
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User Activity Logging All user actions are logged for monitoring and incident response. |
All user activity is logged for compliance and auditing. | |
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Data Masking Sensitive data can be hidden from unauthorized users. |
. | No information available |
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Disaster Recovery RPO Maximum tolerable period in which data might be lost due to an incident. |
. | No information available |
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Role-based Data Access Access to sensitive information restricted based on user roles. |
. | No information available |
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Audit Log Retention Period for which audit logs are retained. |
. | No information available |
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Penetration Testing System is subject to regular external security testing. |
Penetration testing referenced as part of annual security practices. |
Configurability and Scalability
(3 Yes /3 Known /10 Possible features)
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Custom Tax Rule Engine Users can configure bespoke tax rules/logic without code. |
Corptax Insurance includes the ability to configure custom tax rules and logic. | |
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Number of Concurrent Users Supported simultaneous user sessions. |
No information available | |
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Multi-entity Support Handles multiple business units, companies, or subsidiaries. |
. | No information available |
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Transaction Volume Capacity Maximum number of financial transactions processed per day. |
No information available | |
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Configurable Workflows Ability to customize process flows to align with business practices. |
Workflows are configurable for client-specific requirements, per insurance solution guide. | |
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Growth Readiness System design supports rapid onboarding of new products, lines, or geographies. |
Corptax infrastructure scales to support growth—adding new products, lines, and entities as needed. | |
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Custom Field Creation Users can add custom data fields. |
. | No information available |
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Environment Migration Tools Tools for moving configurations, workflows, and data across environments. |
. | No information available |
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Limitless Data Storage Support for virtually unlimited data records. |
. | No information available |
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Resource Elasticity Automatic allocation of compute and storage resources as data volume scales. |
. | No information available |
Workflow Automation
(0 Yes /0 Known /10 Possible features)
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Automated Data Extraction Uses OCR or data feeds to pull information from source systems. |
. | No information available |
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Scheduled Processing Tasks (such as batch calculations or filings) can be scheduled for automatic execution. |
. | No information available |
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Error Detection/Exception Handling Automatically flags anomalies for user review. |
. | No information available |
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Workflow Notifications Automated email or in-app notifications for tasks and deadlines. |
. | No information available |
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Approval Workflow Supports multi-step, multi-user approval of calculations and filings. |
. | No information available |
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Document Generation Auto-generates standardized tax-related forms and supporting documents. |
. | No information available |
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Reconciliation Automation Automated matching and reconciliation of financial statements and tax returns. |
. | No information available |
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Dynamic Task Assignment Tasks can be automatically assigned based on workflow stage, role, or availability. |
. | No information available |
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Retention Workflow Management Automates document retention, archival, and deletion based on policy/requirements. |
. | No information available |
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Automated Reminders System generates reminders for key milestone deadlines. |
. | No information available |
Internationalization and Cross-border Support
(1 Yes /1 Known /10 Possible features)
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Multi-currency Support Handles transactions and tax calculations in multiple currencies. |
Product supports transactions in multiple currencies according to product FAQ and international support. | |
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Local Tax Rules Engine Supports custom rule definition to address distinct rules by locality. |
. | No information available |
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Translation Management Automated or manual translation of interface, documentation, and reports. |
. | No information available |
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Cross-border Transaction Handling Ensures correct application of treaties, international taxes, and compliance rules. |
. | No information available |
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Country-specific Templates Prebuilt forms and templates for country-specific reporting/filing. |
. | No information available |
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Foreign Subsidiary Management Associate and manage tax profiles for multiple international subsidiaries. |
. | No information available |
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Currency Conversion Automation Auto conversion of values and reporting in local and base currencies. |
. | No information available |
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Localization of Dates/Numbers Adapts date, number, and currency formats by user locale. |
. | No information available |
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International Document Support Supports global document standards (XBRL, XML, etc.). |
. | No information available |
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Cross-border Data Privacy Compliance Implements and tracks compliance with international data privacy requirements. |
. | No information available |
Collaboration and Communication
(0 Yes /0 Known /10 Possible features)
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Internal Messaging Built-in communication tools for team discussions and queries. |
. | No information available |
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Commenting/Annotations Ability to comment or annotate specific calculations, documents, or workflow steps. |
. | No information available |
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Task Assignment Users can assign tax tasks and track completion status. |
. | No information available |
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Approval Routing Route approvals to appropriate stakeholders with full tracking. |
. | No information available |
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Document Collaboration Multiple users can jointly prepare, edit, or review documents. |
. | No information available |
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Notifications and Alerts System provides timely alerts on changes, deadlines, or approvals. |
. | No information available |
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Document Sharing Controls Granular controls on document sharing, print, and download permissions. |
. | No information available |
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Workflow Status Tracking Real-time visibility of progress and workloads across teams. |
. | No information available |
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External Auditor Access Provision of secure, time-limited access to external auditors. |
. | No information available |
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Knowledge Base / Wiki Central repository for tax policies, FAQs, and best practices. |
. | No information available |
Support and Documentation
(0 Yes /0 Known /10 Possible features)
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24/7 Helpdesk Availability of support staff around the clock. |
. | No information available |
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Online Documentation Comprehensive up-to-date user guides and FAQs. |
. | No information available |
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Implementation Support Guided onboarding and implementation available. |
. | No information available |
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Knowledge Base Access Access to searchable database of technical and tax domain information. |
. | No information available |
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User Community Forum Online community for sharing experiences and advice. |
. | No information available |
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Training Programs Structured training and certification for users. |
. | No information available |
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Dedicated Account Manager Assignment of a dedicated customer success manager. |
. | No information available |
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Service Level Agreement (SLA) Commitment to minimum uptime and maximum response time. |
. | No information available |
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Multi-channel Support Support available via phone, email, and chat. |
. | No information available |
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Release Notes and Product Updates Regular communication of new features and bug fixes. |
. | No information available |
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