12.15.2016
Outsourced Data Processing in the Title Insurance Industry: a Rough Guide
Technological opportunities abound, and outsourced data processing tasks has become incredibly popular in many different industries.
Software solutions have allowed for greater integration between businesses and greater customer service. In terms of real property records, technology has made it easier to record documents with country recorders, to order customized title searches, title abstracts, real property reports, and more. But one particular technology-driven trend is creating big opportunities and big risks for title insurance companies.
Outsourced Data Processing in the Title Industry
Many real property search companies are saving money by outsourcing online searches of courthouse and other records to companies overseas. While this keeps their costs down, many title companies, agencies, and lenders find it difficult to get details about the processing facilities overseas and how great of a security risk they pose. This could be costly.
To put it plainly, you get what you pay for.
A vital component of a successful service company/vendor relationship is a complete knowledge of the vendors’ operations and skill set. Trust and responsiveness are the keys to any solid professional relationship. If a vendor is global, it is essential that they offer security, disaster recovery, redundant service capability and, most importantly, an easily accessible staff in the U.S. that will respond quickly any time there is an issue. If the cost is slightly higher to ensure these attributes, it is usually worthwhile.
A Strategic Approach to Title Insurance Data Management
CPI Data Services is a United States corporation providing a secure, experienced, strategic, global outsourcing solution for title insurance companies. Our expert data processors help title companies achieve their most important business objectives, providing everything from commitment typing and title searches to title policy preparation and property report typing. We give title insurance companies the tools they need to stay on top of demand and the time they need to grow and improve their business.
We are ISO 27001 Certified and proudly implement all required legal, physical and technical controls required by the ISMS code of practice. This includes thorough documentation, internal audits, continual improvement of our information risk management processes, as well as corrective and preventive action.
To learn more about CPI Data Services and how we serve the title insurance industry, visit our homepage today.
