Fidelity National Financial Forms New Title Information Company To Expand National Coverage
January 8, 2002
IRVINE, Calif., /PRNewswire/ -- Fidelity National Financial, Inc. (NYSE: FNF has launched a new company that will improve the speed and efficiency of real property title insurance underwriting by creating a nationwide capability for standardizing and automating title research.
Based in Santa Barbara, CA, Property Insight combines all of the automated title plants and plant operations from Fidelity Title, Chicago Title, Ticor Title and Security Union. As a major national title information services provider, Property Insight operates in seven states, including California, Florida, Illinois and Michigan, and serves the regional operations of most every major U.S. title underwriter. The company's products include title plant indexes, property tax information, images of maps and publicly recorded land records, judgments and starter policies.
"By combining our title plant operations into a single, stand-alone company, we are focusing our energy on expanding our geographic coverage to become the leading provider of automated information services to the title insurance industry," said Patrick F. Stone, President of Fidelity National Financial. "At the same time, we will improve the return on investments we make in information technology, strengthening our business and financial performance by leveraging our spending across more markets."
By developing a national information service that automates information research and delivery of information needed to examine and underwrite title insurance, Property Insight will enable its customers to lower manual research costs, improve turnaround time and consolidate operations to regional and national processing centers, according to Stone.
"Today, we support a significant volume of real estate activity by providing title information services in more than fifty counties," said John Walsh, President of Property Insight. "Our goal is to expand service coverage to include the top 100 U.S. markets, which will allow our customers to organize their operations around our information platform."
Property Insight maintains regional operations in Southern California, Baltimore, the Chicago metro area, Cleveland, Detroit, Miami, Phoenix, and Stamford, CT.
Source: Fidelity National Financial, Inc.