We’re proud to announce our partnership with Munich Re, one of the world’s leading insurance companies, to lower title insurance costs up to 20% in some states via automation. Munich Re joins our existing relationships with leading underwriters First American, Fidelity, and WFG.
Four years ago, we started Spruce to make buying and selling real estate simple, affordable, and effortless for everyone involved. A key part of that mission has always been to bring transparency to a historically opaque aspect of the title industry: pricing. This partnership helps take that vision one step further, and we’re pleased to offer a new solution to make our clients more competitive and help alleviate pain points for homeowners.
“The consumer experience is at the core of our mission and values,” said Patrick Burns, Spruce CEO and co-founder. “Our automated underwriting paired with the backing and security of Munich Re allows us to offer lower pricing for title insurance and a best-in-class experience for lenders, real estate companies, and consumers. As a result, we can further reduce the friction in real estate and mortgage transactions for all involved, bringing us closer to a one-click checkout for real estate transactions.”
Since launching in 2016, Spruce has enabled more than $3.5bn of transaction volume, and continues to grow revenue at more than 400% annually. We work with mortgage lenders, real estate investors, and proptech companies nationwide to fulfill real estate transactions in all 50 states and D.C.
Spruce’s partners benefit from its national scale and local expertise, combining a tech-first model with a people-centric ethos that allows mortgage lenders, real estate investors, and proptech companies to scale confidently.
"At Better.com we strive to give our customers the most efficient and accessible mortgage experience possible," said Landy Liu at Better.com. "By working with other tech-first companies like Spruce, we've been able to provide customers competitive pricing and a more seamless experience."
Title insurance policies will be underwritten by American Digital Title Insurance Company, which is owned by Digital Partners, a Munich Re company. We’re currently working with American Digital in Arizona, Colorado, and Tennessee, with more states coming soon. To learn more about our partnership with Munich Re, schedule a demo with our team today!
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