Greenlight Re Innovations, part of Greenlight Capital Re, has invested in Blueprint, a full-stack title insurer focused on the digitalisation and integration of new technologies into the industry.
More specifically, Blueprint reduces the historically-outsized expense ratios associated with title insurance by centralising underwriting and agency operations under a full-stack carrier.
The company is said to be capable of significantly reducing the expenses per file while offering a modernised title closing platform that facilitates an efficient and seamless closing process.
“Title insurance is the perfect example of an inefficient marketplace with high expense ratios,” said Simon Burton, Chief Executive Officer at Greenlight Re.
“The title market is well-suited to innovative solutions, and we are pleased to partner with Blueprint as they look to transform this market through innovative technology, automated processes, and competitive pricing.”
Steve Berneman, Chief Executive Officer at Blueprint, added, “Buying real estate has been too difficult for too long. The ‘Single Family Residential’ asset class should be accessible to all, and that’s only possible if title and escrow take a modern approach to transactions.
“At Blueprint, we use technology, transparency, and innovative insurance models to empower buyers and sellers and to remove friction from the process.
“The team at Greenlight Re understood that mission from our first conversation – insurance doesn’t have to be complicated and frustrating. I’m thrilled to welcome them to the Company.”
