Old Republic Title and Qualia Announce Strategic Technology Partnership

Rhea-AI Summary

Old Republic Title and Qualia Labs have announced a strategic technology partnership aimed at transforming digital closing experiences in the title industry. As part of the initiative, Qualia will acquire Old Republic Title's RamQuest and E-Closing platforms. The partnership combines Qualia's cutting-edge technology solutions with Old Republic Title's 117 years of industry experience.

The collaboration focuses on delivering enhanced value and efficiency to clients and stakeholders. Old Republic Title will utilize Qualia's title production offerings to support its direct division, agents, and customers. Both companies emphasize the partnership's role in leveraging AI advancements and technological evolution in the title industry.

Positive

• Strategic acquisition of Old Republic Title's RamQuest and E-Closing platforms by Qualia
• Technology enhancement and modernization of Old Republic Title's service offerings
• Potential competitive advantage through AI integration and technological advancement

Negative

• None.

Insights

Technology and Financial Analyst

This strategic partnership marks a pivotal moment in the title insurance industry's technological evolution, with significant implications for Old Republic International (ORI)'s market position and operational efficiency. The deal structure is particularly noteworthy as it combines platform acquisition with co-development initiatives, creating a dual-benefit scenario.

The transaction's strategic value lies in three key areas:

• Platform Consolidation: Qualia's acquisition of RamQuest and E-Closing platforms represents a significant consolidation in the title tech space, potentially leading to improved operational efficiency and reduced technology maintenance costs for ORI
• AI Integration Positioning: The partnership strategically positions ORI at the forefront of AI adoption in title insurance, a critical advantage as the industry moves toward automated underwriting and risk assessment
• Market Differentiation: By leveraging Qualia's modern technology stack, ORI gains a competitive edge in attracting tech-savvy agents and customers, potentially increasing market share

The timing is particularly strategic given the increasing pressure on title insurers to digitize operations and reduce closing costs. This partnership could accelerate ORI's digital transformation while maintaining its strong market position through reduced technology overhead and enhanced service capabilities. The focus on AI integration suggests potential for significant operational cost reductions and improved risk assessment accuracy in the medium to long term.

For investors, this represents a forward-thinking move that addresses both current market demands and future technological requirements. The partnership structure allows ORI to maintain its core competencies while outsourcing technology development to a specialized partner, potentially leading to improved margins and sustained competitive advantage in an increasingly digital-first market.

Technology acquisition and co-development partnership will deliver transformative value to Old Republic Title technology customers and agents, as well as Qualia ecosystem

TAMPA, Fla. and SAN FRANCISCO, Calif., Jan. 29, 2025 /PRNewswire/ -- Old Republic National Title Holding Company (Old Republic Title), the parent company of one of the nation's largest title insurance underwriters, and Qualia Labs, Inc. (Qualia), an innovator in the digital closing experience, have announced a strategic partnership. This partnership represents a shared vision for the future of technology in the title industry. By combining Qualia's cutting-edge technology solutions and Old Republic Title's extensive industry experience, the partnership is poised to deliver enhanced value and efficiency to clients and stakeholders alike.

"Technology has become integral to the process of conducting smooth and secure real estate transactions," says Carolyn Monroe, President and CEO of Old Republic Title. "Throughout Old Republic Title's 117-year history in serving the American homeowner, we have embraced opportunities to improve the method of transferring real estate. As the speed of technological innovation in our industry accelerates, partnering with Qualia will help us provide an improved experience for both our agents and our insureds. It creates a mutually effective path for offering the expertise of Qualia in the rapidly changing technology environment, and the strength of Old Republic Title as a leader in the title industry."

As part of this initiative, Qualia will acquire Old Republic Title's RamQuest and E-Closing platforms. Qualia will expand the capabilities of its title production offerings, which Old Republic Title will use to support its direct division, agents and customers.

"Old Republic Title has been a leader in real estate technology for decades, and we're excited to partner with their leadership and technology teams," said Nate Baker, CEO of Qualia. "We believe that this strategic partnership will enable Old Republic Title to be the title insurer best positioned to take advantage of the coming AI wave, and to be at the forefront of our industry's technological evolution. We are excited to build a large-scale, long-term strategic partnership with Old Republic Title that has meaningful benefits to both businesses, our mutual customers, and our industry."

About Old Republic Title
Old Republic Title Insurance Group, Inc. (ORTIG) is comprised of a multitude of title and related services companies and is one of the largest title insurance groups in the United States. Its underwriters are Old Republic National Title Insurance Company, formed in 1907, and American Guaranty Title Insurance Company, dating back to 1899. Since 1992, no other title insurance group has had higher overall financial-strength ratings than ORTIG. The Company has a national network of more than 270 branch and subsidiary offices, and approximately 8,000 independent, authorized policy-issuing title agents. It is a wholly owned subsidiary of Old Republic International Corporation (NYSE: ORI), one of America's 50 largest shareholder-owned insurance businesses. For more information, visit oldrepublictitle.com. 

About Qualia:

Qualia is the leading comprehensive digital closing platform used by title, escrow, real estate, and mortgage lending professionals to transform home buying and selling into simple, secure, enjoyable experiences for millions of homeowners each year. The Qualia platform provides a secure system of record for the real estate settlement ecosystem through a suite of workflow, accounting, reporting, and collaboration products as well as its expansive product and service integrations. Qualia is headquartered in San Francisco, CA and has offices in Austin, TX, and Superior, CO. For more information on Qualia, visit www.qualia.com.

Contacts:

For Old Republic Title:

Corporate Communications

CorporateCommunications@oldrepublictitle.com 

For Qualia:

Greg Schneider, Chief Marketing Officer

press@qualia.com

View original content:https://www.prnewswire.com/news-releases/old-republic-title-and-qualia-announce-strategic-technology-partnership-302361360.html

SOURCE Qualia

FAQ

What technology assets is Qualia acquiring from Old Republic Title (ORI)?

Qualia is acquiring Old Republic Title's RamQuest and E-Closing platforms as part of their strategic partnership.

How will the Qualia partnership benefit Old Republic Title (ORI) customers?

The partnership will provide improved digital closing experiences, enhanced title production capabilities, and more efficient services for Old Republic Title's direct division, agents, and customers.

What is the strategic focus of the ORI-Qualia partnership in 2025?

The partnership focuses on leveraging AI technology, enhancing digital closing experiences, and improving title production capabilities while combining Qualia's technology with Old Republic Title's industry experience.

How will the 2025 Qualia partnership affect Old Republic Title's (ORI) technology infrastructure?

The partnership will modernize Old Republic Title's technology infrastructure through Qualia's title production offerings and advanced digital closing solutions.