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The title insurance industry has entered uncertain times along with the rest of the housing market. While the big title companies remain profitable, it will be hard to escape this savagely unhealthy housing market without job cuts and disruption.
The long-term future of the title industry is also up in the air. For one, there is a talent gap that needs to be filled. Almost 21% of the industry’s workforce is within 10 years of retirement. There’s also potential disruptors in the space like Attorney Opinion Letters and tech-first insurers like Doma.
However, the future of digital closings remains bright. The COVID pandemic accelerated a trend towards digital, with millennials in particular expecting easy digital features like RON.
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AEGIS Land Title Group last week announced the acquisition of Capital Title of Washington, a boutique independent title and escrow provider operating in the greater Seattle area.