First American Title’s Agency Division Adds Secure Document Portal to PRISM® Digital Platform

Rhea-AI Summary

First American Title Insurance Company, a subsidiary of First American Financial Corporation (NYSE: FAF), has introduced a secure document portal as part of its PRISM® digital platform. This enhancement aims to help title agents mitigate the risk of wire fraud and streamline communication with clients by providing secure access to wire instructions and transaction documents, fortified with multi-factor authentication. Additionally, the portal automates notifications for document and transaction updates. Since its launch in 2022, the PRISM platform has equipped title agents with various automation and marketing tools, allowing for a more efficient settlement process. The platform also offers customizable marketing materials, comprehensive property data, and automated fee quotes, all designed to enhance business growth and customer service.

Positive

• Introduction of a secure document portal to reduce wire fraud risk.
• Enhancements to the PRISM platform improve customer communication and transaction transparency.
• The platform provides automated notifications, boosting agent efficiency.
• Integration of various tools supports title agents in business growth.

Negative

• None.

—New document solution designed to help title agents reduce wire fraud risk, simplify customer communication with automated document and transaction updates—

SANTA ANA, Calif.--(BUSINESS WIRE)-- First American Title Insurance Company, a leading provider of title insurance and settlement services and the largest subsidiary of First American Financial Corporation (NYSE: FAF), today announced the addition of a secure document portal to its PRISM^® digital platform, an enhancement that is designed to help First American policy-issuing title agents reduce wire fraud risk and simplify communication with customers. This new security feature allows title agents to provide their customers with secure access to wire instructions and transaction documents under the protection of multi-factor authentication, and also automates notifications for document and transaction updates.

“We’re committed to helping our title agents and their customers prevent wire fraud, while also simplifying the real estate transaction experience,” said Stephen Vincini, president of First American Title’s Agency Division. “With the PRISM platform and its secure document portal, our title agents can quickly and easily offer their customers greater peace of mind and more visibility to the status of their documents and transaction, freeing up time to focus on other business and customer priorities.”

Launched in 2022, the PRISM platform provides First American policy-issuing title agents with a variety of automation and marketing tools to help their businesses grow and to better serve their customers. Easy-to-implement and cost-effective, the PRISM platform also features integrations with third-party services to enhance the efficiency and convenience of the settlement process for title agents, lenders, real estate agents, and the buyers and sellers they serve. The PRISM platform also connects title agents to the following services available only from First American Title:

• Customizable marketing materials through Agent Print Pro
• Property data, including transaction history and current owner information
• Automated settlement/closing fee quotes that include local recording fees, transfer taxes, along with title insurance policy and endorsement rates through First American’s Comprehensive Calculator.

For more information about the PRISM platform, email sales@PRISMpowered.com or visit go.PRISMpowered.com to schedule a personalized demo.

About First American Title Insurance Company

First American Title Insurance Company, the largest subsidiary of First American Financial Corporation (NYSE: FAF), traces its history to 1889. One of the largest title insurers in the nation, the company offers title services through its direct operations and an extensive network of agents throughout the United States and abroad. First American Title provides comprehensive title insurance coverage and professional services for real estate purchases, construction, refinances and equity loans. For more information, visit www.firstam.com/title.

About First American

First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 130 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $7.6 billion in 2022, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2023, First American was named one of the 100 Best Companies to Work For by Great Place to Work^® and Fortune Magazine for the eighth consecutive year. More information about the company can be found at www.firstam.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230420005367/en/

Media Contact:

Marcus Ginnaty

Corporate Communications

First American Financial Corporation

(714) 250-3298

Investor Contact:

Craig Barberio

Investor Relations

First American Financial Corporation

(714) 250-5214

Source: First American Title Insurance Company

FAQ

What is the new document portal by First American Title Insurance Company designed to do?

The new document portal aims to help title agents reduce wire fraud risk and simplify customer communication by providing secure access to wire instructions and transaction documents.

How does the PRISM platform enhance the experience of title agents?

The PRISM platform offers automation and marketing tools, including customizable materials and automated fee quotes, improving efficiency and customer service for title agents.

What features does the secure document portal offer?

The secure document portal features multi-factor authentication and automates notifications for document and transaction updates.

When was the PRISM platform launched?

The PRISM platform was launched in 2022.

What is the stock symbol for First American Financial Corporation?

The stock symbol for First American Financial Corporation is FAF.