Conestoga Title Launches Digital Underwriting Powered by Qualia
December 12, 2019
Conestoga Title Insurance Co. announced a collaboration with real estate closing technology company Qualia to implement a digital underwriting process.
Qualia’s Assure suite of products is a cloud-based infrastructure designed to increase security and efficiency in real estate transactions.
“We’ve been in business for almost 50 years and this is the first time we believe our technology infrastructure will create a competitive differentiator for us,” said John Nikolaus, president of Conestoga Title Insurance Co. “As a leader in training and agency support, we are committed to providing our network of talented agents with sophisticated and effective tools for success. With Qualia, we have the opportunity to deliver a vastly superior digital experience to our agents.”
Assure automates collection of remittance information, operates monthly reconciliations and integrates audit workflows directly into the agent’s Qualia software platform. Qualia’s Assure enables Conestoga to offer all its agents everything from underwriting and search integrations to automated compliance and audit workflows. Assure facilitates collaboration between underwriters and title agents by automating audits, reconciliations, remittances and reporting.
Conestoga will also implement Qualia’s cloud-based title, escrow and closing platform, as well as the Qualia Marketplace, a turn-key operational tool that connects title and escrow companies with their vendors to avoid unsecure emails, simplify payments and reduce overhead. Conestoga agents will be able to order title search products directly from Conestoga via the Qualia Marketplace. Agents running Qualia software will receive completed searches directly into its platform. As an added benefit, Conestoga, not the agent, will retain liability for errors resulting from defective search products ordered from Conestoga.
“We are excited to provide Conestoga with Assure and our full suite of products to deliver a more connected, secure and seamless experience for the underwriter, agents and their clients,” said Nate Baker, CEO of Qualia. “We look forward to seeing how this partnership with Conestoga will drive forward the next phase of title insurance and accelerate the growth of their business.”
The full deployment will launch in February 2020. At that time, Qualia’s products will allow Conestoga’s agents to issue policies and CPLs, produce form, and calculate rates. Agents will also receive access to the automated compliance and audit tools.
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