“Being able to tap into markets utilizing a system that provides both accurate and quick results has enabled us to expand our market share at the same time reducing our costs giving us higher margins of return.”
Gary S. Ferguson | V.P/Advisory Title Officer | Chicago Title Insurance Company
More Intelligent Examination
70% of orders have sufficent data to process with little or no Examiner time
The 7 most expensive words in business are: “We have always done it that way.”
Time honored Examination methods are still necessary, but only a fraction of orders are complicated enough to need them. As the availability of good data continues to increase and homes turn over more often, the majority of orders can be automated and processed with little or no examiner time. In addition to having hundreds of data sources, NextAce also brings the benefit of the over 9 million title reports we have processed since 2003.
“Innovation distinguishes between a leader and a follower.” – Steve Jobs
Innovation in the Title industry, like the innovation in every other field, begins with using technology and big data, where those can return results that are faster and better than traditional manual processes. For us, sending every order to a qualified Examiner prior to determining the complexity of the transaction is like sending every patient in a medical practice to a brain surgeon because they might possibly have a complicated condition. Our history shows that 70% of transactions are routine, and able to be automated with accurate, reliable results. Our patented system grades orders for complexity and creates three possible workflow queues for orders to be routed. (See below)
Transactions meeting qualifying criteria and where OCR was not used for any variable extraction are returned with no human interaction as a completed title report in less than five minutes.
* Orders are qualified when OCR was not used for any variable extraction and they meet criterial defined and configured
by your company.
Proof Read Only
Transactions meeting strict criteria and where OCR was used, require only a quick review for typos on extracted fields. This minimal review is
completed in minutes.
Transactions that are more difficult or require confirmation or validation of additional information are reviewed by your examiner using our TitleEditor™ tool and can generally be completed in 10 minutes or less.
Grow your business and profit margin with NextAce
Start processing orders in minutes