COLUMBUS, OHIO, April 22, 2019 — SafeChain, in partnership with 9 independent title agents in Ohio, has launched a blockchain-backed network that enables peer-to-peer transfers of prior title insurance policies to streamline the title search process and drive down costs for member agencies.
The new network allows independent agents to share prior policies, rewarding contributing agents for policies accessed. Agents have the ability to set the price of their policies as well as customize which underwriters and agents they want to view in their search results. While member agents will maintain governance of the network upon completion, SafeChain will act as the network operator while the project is being built and will gradually relinquish control over to independent agents over the course of the next few years.
“The future of technology in title is driven by the independent title agent. Using world-class software and a new way of thinking about partnerships, we can create a better experience for consumers. It’s not a fierce competition, but working together in the best interest of our customers that will allow the industry to redefine how it operates,” said Tony Franco, CEO of SafeChain.