Title insurance is complicated, and not just in regard to a
consumer’s understanding of the product or policy. The regional
differences from state to state remove a universal understanding of the
title business that can make certain decisions more complicated and
confusing for even the most veteran of title professionals as they start
to grow their businesses.
On a recent webinar, Mandrien
Consulting tried to demystify these issues a little bit, provide a
clearer blue print and pose important questions for any title agent
looking to ramp up business across a wider geography.
Think holistically
“Where
do you begin? You begin with a deep dive into your strategic planning
of where you want to start,” said Rusty Solomon, chief executive officer
of Mandrien, which acts as product manager for many agencies looking to
work on a licensing plan by researching fees, coordinating with
underwriters, buttoning up documents that need to be sent, and much
more. “It’s rhetorical question. You don’t just start getting licensed.
You need to think about it; plan it; give it deep thought.”
How many states do you want to enter, which ones and why?