How to Streamline Policy Issuance for Real Estate Closings

Trying to make policy issuance as streamlined and smooth as possible ensures happy customers and clients. While several strategies exist to reduce turnaround time and increase client satisfaction, knowing where to cut corners, when to be thorough, and who to partner with—including reliable title agent services—makes all the difference in the world.

First National Title Insurance Company knows that partnering with the right title agents is crucial for efficient policy issuance. As the underwriter you can rely on for all your educational needs, we understand that learning the ins and outs of streamlining policy issuance benefits both parties. We’ve made it a point to maintain a policy of continued education and leverage technology to enhance communication, improve turnaround times, and increase accuracy for our clients. Let’s take a look at the four key steps to improving real estate closings.

1. Leverage Digital Processes

Speeding up the process is everything. Technology enhances the closing process by offering something called “eClosing.” eClosing removes the need for paper based processes, which saves time and limits document creation. Nobody likes to have to leave a closing with a binder full of paper never to be read again.

Digitalization allows for remote meetings too. Trying to find and schedule time among all parties can be difficult and using meeting software decreases wait times dramatically.

2. Standardization is Key

While no two homes are unique, closing processes aren’t often so. Standardizing operating procedures within your team and organization reduces errors and allows for simpler research and training from closing to closing. Sometimes we recommend pre-approving some of the policies to help with efficiency by limiting unnecessary steps.

Making communication within the organization part of the standardization from top down and bottom up. Make communication with the outside party members a priority as well. The more clearly we communicate, the fewer mistakes, hassles, and misunderstands that exist to slow down the process.

3. Lean on Technology

AI can help you create new forms while a simple MFP scanning process removes all the bulky filing cabinets and paper storage. Online ordering platforms allow agents to easily submit requests and track progress over time. Title production software exists and it seriously reduces time spent on generating government regulated paperwork. Don’t be afraid of the internet or the computer!

4. Work with Only the Most Efficient Title Companies

Be sure to trim the fat. Should certain title companies make collaborating closely a priority, remember that and deal with those same companies in the future. Do not spend time working with title companies that make the process painful for you, even if a cost savings exists. Your clients will appreciate the speed far more than the small savings. Select partners with a strong track record of accuracy and reliability, because these qualities always reduce the risk of last-minute issues and delays.

Transform Your Process with FNTI

First National Title Insurance Company already implements all four strategies in their business. We transform the policy issuance process into a well-oiled machine with no limitations or errors. Should hiccups occur, it’s not because of FNTI!

Fill out our contact form or call 972-588-1280 today, if you’re interested in partnering with First National Title Insurance Company or just want some more information.