First American Title Unveils PRISM™ Digital Platform for Title Agents

Rhea-AI Summary

First American Title Insurance Company has launched the PRISM™ digital platform, designed for title agents to streamline real estate transactions. The platform automates quote delivery and title ordering, enhancing efficiency and customer engagement through its user-friendly interface accessible on any device. Title agents can provide co-branded marketing materials and property reports, facilitating better relationships with clients. This initiative reflects First American's commitment to digital transformation in the title industry, enhancing the overall real estate transaction experience.

Positive

• Launch of PRISM™ digital platform enhances efficiency for title agents.
• Automated quote delivery and title ordering streamline transactions.
• Provides customizable co-branded marketing materials for agents.

Negative

• None.

—Easy-to-implement, cost-effective digital platform includes tools that increase efficiency, strengthen customer engagement and enhance the real estate transaction experience—

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 launch of its PRISM™ digital platform, which combines automation and marketing tools, allowing First American policy-issuing title agents to offer valuable products and services directly to their customers via any computer or mobile device at any time. In a transitioning market, title agents are looking for easy-to-implement, cost-effective digital platforms and tools that increase efficiency, strengthen customer engagement and enhance the real estate transaction experience.

“Our PRISM platform is another example of First American’s leadership of the digital transformation of title and settlement,” said Kevin Wall, president of First American Title’s Agent and Lender Group. “By leveraging innovative digital technology and the company’s industry-leading public records data, the PRISM platform delivers a more efficient, more convenient real estate transaction experience for our title agents and the lenders, real estate agents, buyers and sellers they serve.”

The PRISM platform automates the personalized quote delivery and title ordering process, eliminating the need for lenders or real estate agents to call their title agent for a quote for title and settlement fees or to order title, which helps accelerate the transaction and strengthen relationships with the parties involved. Through the PRISM platform, real estate agents can access co-branded or white-labelled seller net sheets, buyer estimates, refinance quotes, marketing materials, and property reports, where permitted, that highlight the title agent’s role, helping both the real estate agent and title agent establish relationships with home buyers and sellers earlier in the real estate transaction and, ultimately, helping the title agent secure more title orders.

“PRISM provides a branded digital platform that helps engage and support my lender and real estate agent customers as well as home buyers and sellers,” said Chris Medina, director of sales at Navi Title Agency. “My customers can easily order and edit fee quotes on the fly 24/7, helping my people spend more time on the closings they have in their queue.”

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
• Policy rates and endorsement fees, local recording fees, and transfer taxes through First American’s Comprehensive Calculator.

The PRISM platform will include a number of integrations with third-party services to further enhance the efficiency and convenience of the settlement process for First American policy-issuing title agents and their customers. 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 $9.2 billion in 2021, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2022, First American was named one of the 100 Best Companies to Work For by Great Place to Work^® and Fortune Magazine for the seventh 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/20220825005210/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 PRISM™ digital platform launched by FAF?

The PRISM™ digital platform is a new tool that automates the title ordering and quote delivery process for title agents, enhancing efficiency and customer engagement.

How does PRISM™ improve customer engagement for FAF?

PRISM™ allows title agents to provide co-branded marketing materials and property reports, helping to establish stronger relationships with clients during real estate transactions.

When was the PRISM™ digital platform announced by FAF?

The PRISM™ digital platform was announced on August 25, 2022.

Is the PRISM™ platform accessible on mobile devices?

Yes, the PRISM™ platform can be accessed on any computer or mobile device, allowing flexibility for title agents and their customers.