As a title officer/underwriter, automation SOUNDS great in theory.

However, how can automation find problems in title?  Like estate issues?  Or illegal transfer of deeds?  Or question possible fraudulently signed documents?   Compare signatures, etc?

Of decide what the INTENT was in a transaction?

We ain't there yet folks.  And 100% automation will UP the amount of claims, not reduce it.

I have 100s of files that come across my desk annually that have defects in them, and yet someone let them slip through the cracks and insured them without excepting the defects from coverage.

So defects so bad that we had to reject the file and could not insure it.   OOPS, prior title has a CLAIM.

And we've even had Underwriters turn blind eyes to their agents' mistakes and insure policies that they know were defective, but would not issue Indemnification Letters an Undertaking on them.

So, don't be too concerned yet.

 

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