Misquotes cost everyone time and money. They can make your title insurance agency look sloppy, untrustworthy, and unreliable. It is imperative that, whenever you decide to offer your agents access to your quoting app, you choose the most accurate, compliant and customizable solution.
After having helped over 1,500 title companies deliver more than 10 million instant quotes to their agents, and having been chosen by some of the biggest title agencies nationwide, we believe the next three items are absolute key in making sure your app is 100% accurate and you can have total peace of mind.
Read on and choose wisely.
Can you customize the form?
One of the most important traits of any serious branded quoting app, not just TitleCapture, is its ability to feature a sufficient number of inputs related to the transaction, as well as any number of custom dropdowns you may choose to add.
This is important because the more information the user provides about the transaction or the property, the more relevant and accurate the result will be. It really makes a difference if you have a first time homebuyer, or if the property is a second home, or if there’s a VA loan involved.
Any app that doesn’t feature these dropdowns and inputs should be looked at with a certain degree of skepticism.
Can you feature multiple fee schedules?
Getting information about the transaction is key, but what’s even more important is the app having a super-smart algorithm that figures out what is the most appropriate fee schedule to be displayed.
So the first thing you should be looking for is an app that allows you to define various different sets of rates and fees, depending on your office, the transaction type, the property location, who the underwriter is or various different transaction details. And this is just scratching the surface.
Where it really gets interesting is when you can define different rates and fees for each one of your title sales reps. Or when you can quote certain rates and fees that only apply if the agent works for a certain brokerage or lending institution.
Just as an example. One of our bigger clients, a national title agency, has around 9000 different fee schedules configured for their TitleCapture app. The system works so brilliantly that we haven’t had any complaints of serious misquotes in the 4 years they’ve been with us.
Is your data up to date?
Last but not least – and this is very very important. You need to make sure that the vendor you end up working with has a consistent process of keeping all data fresh. They need to stay on top of ALL underwriter rate changes, all recording fees and transfer taxes for all counties (and in come cases municipalities), as well as any change in property tax proration methods.
Having staff and process for this is essential, and you should always ask your vendor about this.
Talk to Us Today
Suppose you’re interested in seeing how we deliver real-time instantaneous, accurate quotes? In that case, you should look at our solution, TitleCapture. Click here to schedule a demo with one of our friendly product specialists, and they’ll give you a quick 30-minute online tour.