A new insurtech platform, Incept, has been launched to streamline the way property transactions are completed, using real-time data to generate title insurance policies in seconds.
The system is designed for mortgage and bridging lenders, real estate funds, auction houses and renewable energy project funders.
It uses data sourced directly from the Land Registry to create all-risks title insurance policies instantly, removing the need for lengthy manual processes.
According to its developers, the platform reduces the time and cost associated with title due diligence while helping manage risk across both individual properties and portfolios.
Policies produced on the platform are underwritten by two A-rated risk management providers.
Reema Mannah, chief executive and founder of Incept, said: “Title due diligence can be a significant burden on the real estate transaction process, often resulting in unnecessary delays and extended timescales. But with Incept, these obstacles are a thing of the past.
“Incept has been designed and built by experts in real estate underwriting to accelerate property deals. We’ve harnessed pioneering innovations in data technology to put the power of title insurance in your hands.
“Major players across the transaction lifecycle can now move faster, cut costs, and better manage their risks.”