#BLUEPRINT TITLE INC PROFESSIONAL#
#BLUEPRINT TITLE INC SERIES#

Our call with Blueprint was the first in which a startup discussed shrinking its market.īut the point is reasonable if title insurance is mispriced, and Blueprint sells to corporate customers, it can likely offer profitable coverage at a lower-than-market price point - and grow quickly in the process. The result of market concentration and effective price harmonization is that Berneman thinks that the $18 billion title insurance business should really be a $10 billion market. And thanks to rules requiring public pricing in many states, there’s alignment on pricing from some leading players. That means its risk profile is different, and its pricing less flexible there’s less loss ratio to wring out of title insurance underwriting, so cost and delivery of service are even more important than in other insurance varietals.Īccording to the CEO, the title insurance market in the United States today is made up of four companies with around 90% market share. Title insurance, Berneman said, has around a 1% to 4% claims rate, far lower than auto insurance, to pick an example. Insurtech is hot on both sides of the Atlantic That means that the company’s go-to-market activities are distinct from its mates in the consumer-focused cohort and that its loss profile is very different. That means its customer base is not made up of consumers hoping to cover their main residence, Blueprint CEO Steve Berneman told TechCrunch in an interview.

#BLUEPRINT TITLE INC PROFESSIONAL#

Blueprint, in contrast, sells to professional groups looking for a better title insurance experience. The neoinsurance companies that went public in the last year and a half sell to consumers. Blueprint is different from the Roots and MetroMiles and Hippos that debuted via traditional IPOs or SPACs it largely sells to business customers and has a very different product on offer. While Blueprint is an insurtech startup and therefore fits into the neoinsurance cohort that we’ve tracked in recent quarters as a number of companies from the group have gone public, it’s somewhat distinct.

#BLUEPRINT TITLE INC SERIES#

The startup previously raised an $8.5 million Series A in the final weeks of 2019. The company was established in 2017 by a group of real estate developers, tech entrepreneurs, and title attorneys who strive to deliver transparent pricing, current technology, and high-quality service to real estate consumers and professionals. Blueprint Title believes these clients “deserve more from a title company.” In addition to its primary office in Nashville, Tennessee, the company is licensed in 26 states and maintains operations in 19 states.Blueprint Title, an insurtech startup working in the title insurance space, announced this morning that it closed a $16 million Series B. Looking to transform the multitrillion title industry, Blueprint Title works to provide smooth customer experiences and closings that reduce friction and increase confidence that transactions are done right.

As eligible, employees are offered a robust benefits package that may include competitive pay, unlimited vacation, a wellness stipend, 100% employer-paid medical coverage, performance-based bonuses, a 401(k) savings plan, and more. In new hires, the company looks for experienced, passionate, and ambitious individuals who are naturally driven to pursue growth and revenue, hold themselves accountable for their own responsibilities, are able to work independently with minimal supervision, and have an understanding or desire to learn about industry and market trends. Blueprint Title jobs have been posted in career areas like mortgage & real estate, accounting & finance, project management, operations, and administrative. In the past, the title and escrow agency has posted jobs with flexible schedules and up to 100% remote flexibility. Researched & Written by Kara Lidberg on the FlexJobs Teamīlueprint Title is on a mission to assist sellers, buyers, and other real estate service professionals by using tech-enabled solutions to streamline real estate closings.

Blueprint title inc