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New Paper Points to Need to Reconfigure Title Industry
press release, AREAL.ai
   

If title insurance companies don’t reconfigure their companies now, they will continue to become less profitable as the downturn continues, according to a new analysis from AREAL.ai. The conclusion was published in a new White Paper entitled “Reconfiguring the Title Company for Profit,” which is available from the company at no cost.

“Title companies cannot count on their primary technology vendors to provide a solution that will help them become more efficient during a downturn,” said Argun Kilic, CEO and co-founder of AREAL.ai. “Without incremental technology, agencies will see their profits erode. But this is not necessary. Our new paper explains exactly what tools a title company would need to weather this part of the cycle profitably. We also focus some attention on applications that cannot meet the needs of today’s title companies so readers know what must be avoided.”

In its new White Paper, AREAL.ai executives write about why new technologies are required and what will happen if title companies don’t find them soon. The analysis starts with a blue sky approach to conceiving functionality that would best serve these industry players. Finally, the company introduces a new class of incremental technologies that finally allow the title agency’s core systems to operate at high efficiency and deliver the profitability they need now.

AREAL.ai’s Rapid Order solution allows users to produce a title and escrow order within seconds. AREAL's Rapid Settlement for Escrow Documents solution gives title and escrow agents the ability to automatically verify the completeness of all buyer, seller, lender and notary documents within large documents and ensure that all documents are properly collected and executed. These features are now built into most of the top modern title industry transaction management systems, including RamQuest.

The turnkey solution includes industry specific document understanding for over 1,300 document types, data extraction and workflow features that enables businesses in the title and lending verticals to eliminate the need for manual document processing, accelerate their response times and exponentially scale their business capacity.

“Our software has processed millions of pages and has achieved ALTA’s endorsement as a customer,” Kilic said. “If you’re ready to make more money without the pain that comes with switching your core technology solution, download this while paper today.”

The paper can be downloaded from the company website.

 

About AREAL.ai

AREAL.ai is a no-code automation platform for the title and mortgage ecosystem that makes it easy to reliably extract data from complex documents and integrate data with existing tools and workflows. Its goal is to provide end to end document automation and integration in order to save clients resources, time and money as they work through the filing process. AREAL.ai has been serving clients nationwide since 2020. Its headquarters is located in Los Angeles, California.



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