AmTrust Title, a leading provider of title insurance and related services for the commercial and residential real estate industry, has partnered with CertifID, the real estate industry’s only identity management platform for wire fraud prevention and today announces it will cover the costs associated with the transactional use of CertifID for its network of title agents, nationally.
Beginning October 1, 2018, Amtrust Title will pay for the use of CertifID on all Amtrust-insured transactions. CertifID allows title agencies to securely send and confirm wiring instructions and guarantees each wire up to $1,000,000. The platform uses proprietary digital device analysis and knowledge-based authentication sequencing to verify the identity of both parties engaging in a wire transaction.
“After talking to title agents from around the country, we found that wire fraud is one of the biggest risks facing their operation today,” said Jason M. Gordon, President of AmTrust Title. “We are making a conscious decision to offer the use of CertifID to protect them and their customers from loss.”
AmTrust title agents will join with CertifID’s current client base to take advantage of streamlining the flow of wire information to their customers, without the need for additional usernames and passwords. It also eliminates the necessity for agents to make countless phone calls to validate wire information saving valuable processing time. When buyers and sellers are educated on how wire information will be communicated via CertifID and only CertifID, they are much less likely to be become a victim of fraud.
“AmTrust Title has just made it easier than ever for independent title agents to protect themselves,” said Tom Cronkright, CEO and co-founder of CertifID. “Unfortunately, the growth of wire fraud is outpacing industry awareness of this epidemic. When a leader like AmTrust Title makes this kind of statement, we’re taking a huge step in the right direction.”
Amtrust Title agents looking to take advantage of this offer should contact CertifID directly at sales@certifid.com.
About AmTrust Title Insurance Company
AmTrust Title is a wholly-owned subsidiary of AmTrust Financial Services, Inc., a Fortune 500 multi-national insurer, offering specialty property and casualty insurance products, including workers' compensation, commercial automobile, general liability and extended service and warranty coverage. AmTrust Group of Insurance carriers are rated “A-” (Excellent), FSC “XV” by A.M. Best Company, and AmTrust Title is rated “A-“(Excellent) by A.M. Best Company and A’, (Unsurpassed) by Demotech, Inc. AmTrust Title is headquartered and domiciled in New York, New York, and is licensed in forty states. For AmTrust Title, this combination of strong financial backing and advanced technology translates into immediate strength for real estate clients.
For more information, please visit www.amtrusttitlegroup.com or contact support@amtrusttitlegroup.com
About CertifID
Based in Grand Rapids Michigan, CertifID is a real-time, identity management platform, used to securely share wire account information. Every request guarantees each wire transfer is insured up to $1,000,000 against fraud. Using proprietary digital device analysis and knowledge-based authentication sequencing to verify the identity of both parties engaging in a wire transaction. Since launching in February, CertifID has protected over $750 million in wire transactions within residential and commercial real estate, nationwide.
For more information, please visit https://CertifID.com/Amtrust or contact support@certifid.com.