New Technology Drives Next Phase of Underwriting Leadership in Title Insurance
Lancaster, PA (GLOBE NEWSWIRE) - Conestoga Title Insurance Co. today announced a collaboration with leading digital real estate closing technology company, Qualia, to implement Qualia’s Assure suite of products. Assure provides Conestoga with the capability to be the first fully digital underwriter, enabling it to take a major step forward in the industry-wide race to become the benchmark next generation underwriter. Qualia’s Assure is a part of the “Real Estate Cloud,” a cloud-based infrastructure designed to increase security and efficiency in real estate transactions.
“We’ve been in business for almost 50 years and this is the first time we believe our technology infrastructure will create a competitive differentiator for us,” said John Nikolaus, President of Conestoga Title Insurance Co. “As a leader in training and agency support, we are committed to providing our network of talented agents with sophisticated and effective tools for success. With Qualia, we have the opportunity to deliver a vastly superior digital experience to our agents.”
Assure is the only tool on the market for underwriters that automates collection of remittance information, operates monthly reconciliations, and integrates audit workflows directly into the agent’s Qualia software platform. Qualia’s Assure enables Conestoga to offer all of its agents everything from underwriting and search integrations to automated compliance and audit workflows. Assure facilitates seamless collaboration between underwriters and title agents by automating audits, reconciliations, remittances and reporting.
Conestoga will also be implementing Qualia’s cloud-based title, escrow and closing platform, as well as the Qualia Marketplace, a turn-key operational tool that connects title & escrow companies with their vendors to avoid unsecure emails, simplify payments and reduce overhead. Conestoga agents will be able to order title search products directly from Conestoga via the Qualia Marketplace. Agents running Qualia software will receive completed searches quickly, directly into agent’s platform, avoiding the necessity of re-keying data, saving time, effort, and minimizing the risk of errors. As an added benefit, Conestoga, not the agent, will retain liability for errors resulting from defective search products ordered from Conestoga.
“We are excited to provide Conestoga with Assure and our full suite of products to deliver a more connected, secure and seamless experience for the underwriter, agents and their clients,” said Nate Baker, CEO of Qualia. “We look forward to seeing how this partnership with Conestoga will drive forward the next phase of title insurance and accelerate the growth of their business.”
The full deployment will launch in February 2020. At that time, Qualia’s products will allow Conestoga’s agents to issue policies and CPLs, produce forms, and calculate rates. Agents will also receive access to the automated compliance and audit tools. This will be the next in a line of notable Qualia digital closing platform deployments following the announcement of Iowa’s statewide adoption of the platform last month through Iowa Title Guaranty.
For more information, please visit blog.qualia.com/assure-real-estate-cloud.
About Conestoga Title Insurance Co.
Conestoga Title Insurance Co. is a regional title insurance underwriter founded in 1973 with corporate headquarters in Lancaster, Pennsylvania. The company offers comprehensive title insurance services through a network of highly qualified and experienced independent agents and approved attorneys. Conestoga is licensed to underwrite title insurance in Pennsylvania, Maryland, Delaware, New Jersey, New York, Ohio, Indiana, Virginia, Kentucky, Tennessee, South Carolina, Georgia, Alabama, Mississippi and the District of Columbia. Conestoga Title is a wholly owned subsidiary of Donegal Mutual Insurance Co., a mutual property and casualty insurance carrier. For more information, please visit http://www.conestogatitle.com/.
Qualia is a digital real estate closing platform that provides the infrastructure to streamline the home closing experience. The company offers a suite of products that brings together homebuyers and sellers, lenders, title & escrow agents and real estate agents onto one secure shared platform. Qualia was founded in 2015 by Forbes 30 Under 30 Award recipients Nate Baker, Joel Gottsegen and Lucas Hansen. Since launching, the company has been named an ALTA Elite Provider, grown to over 220 employees, and recognized with the Great Place to Work Certification. The company is a leader in industry security and was the first technology company to join the Coalition to Stop Real Estate Wire Fraud. Qualia is headquartered in San Francisco, CA and has offices in Austin, TX. For more information on Qualia, visit www.qualia.com.
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