How Stewart Title doubled their capacity and improved prices for their clients
“Since using Orbital Witness I’ve gone from reviewing one case per day to two to three cases, each involving around 30 properties.”
Shaun Wing, Senior Development Underwriter
Stewart Title underwrite legal indemnity insurance policies for commercial, residential and mixed use property. The London office, which headquarters Stewart Title’s UK operations, became the first title indemnity insurer to adopt Orbital Witness.
Stephen Smith manages the UK arm of Stewart Title; Shaun Wing is a Senior Development Underwriter, focusing on some of their most complex legal indemnity cases.
“In a recent case we received a right of light report from the client citing hundreds of properties with potential rights to light that could impact the client’s proposed development. The client required adequate insurance to mitigate this risk. As the underwriter, as part of the process of facilitating the insurance, it is our role to evaluate each property in order to understand the overall risk posed to the client’s project. This means we need to understand ownership details, reserved rights and the likelihood of a claim.
A project of this size poses several challenges not least the time required, pricing, level of risk, all which is balanced against the commercial advantage of responding to the client quickly without compromising a proper assessment of the risk. ”
“Using Orbital Witness, we can quickly identify and visualise the properties that may benefit from rights of light. The Orbital Witness platform is used to obtain the underlying documents including direct links to relevant information such as company structures. We can use key words to scan through a plethora of documents.
Orbital Witness is a user friendly and efficient system. It accelerates the risk assessment process allowing us to devote our time to the important assessment process, pricing and providing terms.
Orbital Witness takes away the lengthy manual process and has increased our capacity to assist clients without having to increase operational resource.”
“We’ve definitely seen an uplift in the number of enquiries, given the current market we may have seen a decline without Orbital Witness.”
Stephen Smith, Country Manager
“Orbital Witness reduces our operational resources by providing a one stop platform solution for garnering information. The effect of which is increased capacity, reduced response times to clients and elevating our position as a preferred solution provider.
With Orbital Witness we can creatively harness innovation to provide a better solution for clients minimising queries and conditions attached to quotes. Orbital Witness has made a positive material impact on our business.”