Three Leading Regional Title Insurers Launch Realalliance
|October 31, 2002|
Nationwide Business Transaction Network Supports Independent Title Insurance Agents
DENVER Three regional title insurance underwriters, including Attorneys' Title Insurance Fund, Inc., (The Fund), Connecticut Attorneys Title Insurance Company (CATIC) and United General Title Insurance Company (UGT) today announced the launch of RealAlliancesm, a nationwide business transaction network for independent title agents.
With the combined strength of all three companies, RealAlliance will serve all major markets in the U.S. through its network of local title agents. RealAlliance was founded on the premise that local expertise and customized service from independent agents surpasses the service of a national underwriter's direct operations. In addition, the three RealAlliance underwriters are partnering, not competing, with member agents and therefore have no direct operations and no ability to keep transactions routed through RealAlliance.
"As title insurance becomes increasingly homogenized by national underwriters, we're offering strength to independent agents by joining them with other agents across the country dedicated to the same quality service standards," said John Dwyer, chairman of RealAlliance and president of UGT. "By creating RealAlliance, we strengthen the independent agent's position in the marketplace. Now our member agents have more access to business from all over the U.S., and can establish their own relationships with similar agents to ensure a steady flow of transactions back and forth."
Agents of the three underwriters must adhere to the highest standards of quality and customer service to become a member of RealAlliance. The network's transaction management system, RA-Connectsm??is the only one of its kind that is 100 percent agent-centric. Agents can use the Web-based system to conduct all of their business, regardless of whether the deals involve one of the member underwriters.
RA-Connectsm offers the following features:
In a typical RealAlliance transaction, a customer enters his order through the agent's Web site. The agent then views the transaction and routes it through the network to an importing RealAlliance agent. The importing agent accepts the order and begins to process the transaction. Throughout this time, the original exporting agent, as well as the customer and lender, have the ability to track the progress of the order, providing a seamless transaction from beginning to end with customized service from a local independent agent familiar with area real estate laws and customs..
"Becoming a member of RealAlliance has definitely given me an advantage as an independent agent," says Ken Ford, president of New York Title. "My customers with national deals can now come to me for service when they might have used a national underwriter instead. With RealAlliance, they go through my Web site and receive excellent service from a RealAlliance agent who understands the legal and business environment of the particular area where the transaction takes place."