The title industry has used artificial intelligence and automation in various parts of the process for many years. Title production software companies have made great strides in automation that eliminates re-keying and the transferring of data from one application to another.
More and more companies — including underwriters, third-party vendors, and business process outsourcers — have started offering title production automation and using technology to improve the digitization of records. Additionally, companies are using automated reconciliation to complete this task in a timelier manner and address issues more effectively. Finally, title and escrow companies have automated communications such as email, reminders, confirmations, and notifications into title production systems.
Aside from title production, the title and settlement services industry has implemented technology and platforms that track the progress of the transaction, provide secure communication, and offer digital, intelligent closing experiences.