A new mortgage platform has been launched, which is expected to offer “data-driven ownership insurance policies generated in seconds.”
Incept said its algorithm-driven underwriting software uses real-time data feeds of land registry to formulate property insurance policies.
The insurer was founded last year and the company said the software targets funders of mortgage and bridge lenders, real estate funds, auction houses and renewable energy projects.
It added: “The results are faster, less costly and easier to complete than the standard title diligence, saving time and money when it comes to completing real estate transactions.”
“Title due diligence can be a significant burden on the real estate transaction process, often resulting in unnecessary delays and extended timelines,” said Reema Mannah, CEO and founder of Incement. Incept was designed and built by experts from real estate underwriting companies to speed up real estate transactions.
“We have leveraged the pioneering innovations in data technology to take the power of title insurance into your hands.
“Major players in the transaction life cycle can now move faster, reduce costs and better manage their own risks.”
