Title Insurance
Title insurance is at an interesting crossroads when it comes to staffing up a title agency.
It is well documented that the wealth of knowledge held by the most senior employees, especially in the title and escrow divisions, is traditionally lost, as this graying workforce moves into retirement.
On the other side of the equation, as the title insurance industry becomes more technologically savvy, the staffers who are most eager, receptive and engaged in the new technology tend to be the younger generations who were raised on technology and who have the ability to hit the ground running much faster.
This is the question: How do you marry the hard-earned knowledge and expertise of your experienced title professionals with the tech savvy energy of the younger staffers so that the use of technology like Alanna is not only improving your company processes and customer service, but doing so in a way that maintains the integrity of the title and escrow work itself?
The share economy of knowledge and tech
The answer to the question is that these two things cannot be bifurcated. They must be integrated.
It’s great to think you could hire a 20-something, stick them in front of your new technology and tell them to run with it.
How can they do it if they are not carefully schooled in the what and why of title insurance, the how and when of escrow, and the who and where of nonpublic personal information.
Young workers can navigate the technology just fine, but without a deep understanding of the intricacies of title, mistakes are going to be made. There has to be a meeting of the minds between those who know and those who are using technology to make sure objectives are being met effectively and accurately.
Here are a few tips:
Train on everything in Title Insurance
The best training program begins with the big picture and then gets granular. A new recruit will need to understand the work everyone in the agency performs to understand how their tasks relates to everything else that happens in the agency.
Mentorship Programs
Training is usually a finite business. Whether you have a week-long or month-long training program, at some point it ends. But the need for instruction and education never ends. Partnering new recruits with one senior member of the firm or agency gives the new recruit a pipeline to the processes and people they will need to rely on.
NPI and Cybersecurity
What we know in title is that you learn by doing. The more transactions you handle, the wiser you become in problem solving, the more intuitive you become at picking up on fraud or identifying inconsistencies in signatures or problems with the deed or legal description. Translating this knowledge and wisdom to the next generation is imperative, and must be an ongoing effort, especially when it comes to protecting NPI and bringing awareness to the issues surrounding cybersecurity and wire fraud. (By the way, this is a priority for us at alanna.ai. Recently, we successfully underwent the rigorous auditing process required to earn a SOC 2, Type II certification!)
Reciprocity
While the new recruits are the beneficiaries of existing knowledge, they bring their own technological understanding and creativity to the game for the benefit of the entire agency. Allowing them to have a voice at the table could help your agency reach your goals faster and more efficiently.
In taking on the routine conversations title agencies have with real estate agents, buyers and sellers, Alanna improves response time and frees your experienced staff to take on the more complex production or client service tasks. Call us today to learn more about how we can help you streamline your processes in 2023.