There are few industries that rely on data accuracy more than the title insurance industry. The legal and insurance implications of inaccurate information are legion in the industry. And title agency owners know how much of their staff time and energy goes into inputting data as well as investigating discrepancies and correcting records that are often rife with inaccuracies.
The bottom line is that inaccurate data can be costly!
The cost of poor data
Gartner, an international business consultant and research firm, reported that poor data quality can eat into business profits and potential.
On the other hand, taking steps to improve data input and normalizing conflicting data can save man hours, increase overall efficiency and vastly improve customer service.
To help agents minimize data input hours and improve accuracy, Alanna has just introduced a new function to digitally process forms in the data gathering phase of a title insurance transaction.
Introducing Alanna Forms Processing
Using Alanna Forms Processing, a title agency can now proactively send customers a link to an online form via SMS text or email. Once completed by the customer, the form is reviewed for data conflicts or errors against any previously collected data. Once approved, the data is digitally populated into the title agency’s production platform, without the need for manual input.
Alanna Forms Processing will eliminate the unwieldy but common title agency practice of gathering consumer data by phone, email, fax or other means, then manually keying that information into the company’s operational system.
“We see title agents prioritizing the digitization of as many of their manual processes as possible, and the current means for many title agents to gather and review data is cumbersome and prone to error,” said Hoyt Mann, Co-Founder and President of alanna.ai. “With this new ability, Alanna can further help title agents to refocus their employees away from tedious and straightforward processes and toward more complex tasks.”
Compliance, fraud also considerations
Title agents also have to consider compliance issues as well as the risk of fraud in the course of the real estate transaction. Tying data input directly into your system greatly reduces the danger of exposing that data further. Another plus for Alanna’s Form Processing!
Alanna has always offered excellent features for improving customer communication and service that leads to greater client satisfaction. With the new Forms Processing feature, Alanna is raising the bar once again to help title agencies vastly improve their data handling functions so you can focus on growing your business.