Given the tectonic shift that is anticipated in business in general in the coming two decades, there is a lot of chatter about becoming a “company of the future” and “future proofing” your company.
Theoretically, becoming a company of the future is pretty understandable, for instance embracing recent technology and investing in education so your staff is prepared as the way we do business in the title insurance industry begins to shift. And of course, finding more innovative ways to serve the customer as their expectations change.
But what does all of that look like inside a specific department within your company? Here are a few examples of what it might look like to prepare specific departments for the future.
Human resources
Staffing is always a challenge in the title insurance industry, as finding experienced candidates is often like looking for a needle in a haystack. Human resource managers of the future will need to be more strategic in using technology to assist them in finding candidates with specific skills, but also in the ongoing training and development of employees once they are onboard.
And given the speed at which technology is changing the way we do business, companies must prioritize investment in continuous learning so the HR department can ensure employees are adapting as the landscape changes.
Sales
We all know what it feels like when our only connection to a service provider is through a website or a text message. While companies of the future will most certainly want to have appropriate investment in data driven strategies, human interaction will always be a fundamental aspect of the title insurance, escrow and closing process and sales teams must understand how to appropriately blend the personal and digital touchpoints within a transaction and within their long-term relationship with the customer.
Having said that, there is going to be an increased emphasis on optimizing the use of your CRM system. This includes establishing a data strategy that ensures the most up-to-date and pristine data from which the sales team can reliably mine for information to improve their sales strategies and customer outreach.
IT
We’ve left the best for last, but the company of the future will need to constantly assess and invest in modern technologies. But this must be strategically approached, with an eye towards adopting technology that can be easily integrated with current solutions in your tech stack.
In this process, title agents must be dedicated to strategic foresight and strategic agility, avoiding the dangers of getting locked in and myopic in their investment and use of technology.
Adaptability will be the keynote for navigating a quickly changing environment and the companies who will find the greatest success will be those who not only have an adaptable management team but hire and train employees to be equally open to continuous learning and shifting responsibilities.
At VizionX, we understand the pace of technological change in the real estate, lending and title insurance triad, and we are dedicated to developing technology that will help title agents future proof their companies. Contact us today to learn more.
