As they use technology to scour public records more quickly, firms like OneTitle are able to compete by charging less. (Photo: iStock)
(Bloomberg) – Tech-focused startups are knocking on the door of a $15 billion industry that's dominated by just four companies: Title insurance.
A California regulator announced Tuesday that, for the first time, it gave approval to a tech-focused startup title insurer to operate in the biggest U.S. state by population. States Title Inc. joins newcomers including OneTitle National Guaranty Co. and Spruce Holdings Inc. that have gained footholds in other U.S. regions to enter the complex and closely regulated world of title insurance.
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