Doma Recognized Data Solution of the Year for Insurance by Data Breakthrough Awards

Rhea-AI Summary

Doma Holdings, Inc. (NYSE: DOMA) has been awarded the title of 'Data Solution of the Year for Insurance' at the 2022 Data Breakthrough Awards, recognizing its innovative technology in the real estate sector. The award highlights Doma's ability to streamline the home closing experience through its Doma Intelligence platform, powered by extensive data and machine learning algorithms. This recognition comes amid a surge in digital transformation initiatives accelerated by the pandemic, as over half of organizations are increasing investments in digital technologies.

Positive

• Awarded 'Data Solution of the Year for Insurance' at the 2022 Data Breakthrough Awards, indicating industry recognition.
• Doma Intelligence platform significantly reduces home closing times, enhancing customer experience.
• The technology is designed to make real estate transactions more efficient and cost-effective.

Negative

• None.

Doma Named an Outstanding Leader and Innovator for 2022 in the Data Technology Industry

SAN FRANCISCO--(BUSINESS WIRE)-- Doma Holdings, Inc. (NYSE: DOMA), a leading force for disruptive change in the real estate industry, announced today it was named “Data Solution of the Year for Insurance” by Data Breakthrough’s 2022 Awards program. The third annual program recognizes leaders and innovators in the data technology industry, which this year received over 1,850 nominations from across the globe.

Data Breakthrough is an independent market intelligence organization that recognizes the top companies, technologies and solutions in the global data technology market. Its awards program is the premier awards platform founded to recognize the data technology innovators, leaders and visionaries from around the world in a range of categories, including Data Analytics, Big Data, Business Intelligence, Data Storage, and many more.

“It’s exciting to be recognized for the transformative technology we’ve built that enables an accelerated, frictionless, and transparent home closing experience for buyers and sellers across the U.S.,” said Andy Mahdavi, Chief Data Science Officer at Doma. “We’re honored to be included in this impressive group of breakthrough leaders and innovators in their fields.”

Doma, recognized for its proprietary technology solutions and deep human expertise, creates a better experience for everyone across the residential real estate transaction, including current and prospective homeowners, mortgage lenders, title agents, and real estate professionals. The Doma Intelligence platform is powered by extensive public and private data, proven and trained on 30 years of historical data. It uses this data to power ML algorithms that eliminate the rote tasks of a traditional, manual closing process. Instead, the technology can deliver a complete clear-to-close title commitment within minutes, an accurate closing package in under a minute, and a digital signing platform that empowers all participants to drive their closing seamlessly and digitally.

“Digital transformation was already taking place before the pandemic, but digital initiatives are now skyrocketing with over half of all organizations speeding up their investments in digital technologies due to COVID-19,” said James Johnson, Managing Director, Data Breakthrough. “We see data as the core to all successful digital transformation initiatives, and we are proud to highlight the market disruptors that are driving innovation in the data technology space this year for our third annual Data Breakthrough Awards program. Congratulations to all of our 2022 Data Breakthrough Award winners.”

All award nominations were evaluated by an independent panel of experts within the larger fields of data science and technology, with the winning products and companies selected based on a variety of criteria, including most innovative and technologically advanced solutions and services.

About Doma Holdings, Inc.

Doma (NYSE: DOMA) is architecting the future of real estate transactions. The company uses machine intelligence and its proprietary technology solutions to transform residential real estate, making closings instant and affordable. Doma and its family of brands – States Title, North American Title Company (NATC) and North American Title Insurance Company (NATIC) – offer solutions for current and prospective homeowners, lenders, title agents, and real estate professionals that make closings vastly more simple and efficient, reducing cost and increasing customer satisfaction. Doma’s clients include some of the largest bank and non-bank lenders in the United States. To learn more visit doma.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220325005091/en/

Camilla Whitmore | Lead, Public Relations for Doma | camilla.whitmore@doma.com

Source: Doma Holdings, Inc.

FAQ

What award did Doma Holdings receive in 2022?

Doma Holdings was named 'Data Solution of the Year for Insurance' at the 2022 Data Breakthrough Awards.

How does Doma's technology impact the real estate transaction process?

Doma's technology enhances the home closing experience by providing quick title commitments and accurate closing packages.

What is the Doma Intelligence platform?

The Doma Intelligence platform uses extensive data and machine learning to streamline the home closing process.

Why is Doma's recognition significant for investors?

Doma's award reflects its innovative approach and market leadership in digital real estate solutions, which could positively impact investor confidence.