The Silicon Valley start-up's office is located in San Francisco's Mission District improvement zone. (Photo: Shutterstock)
California Insurance Commissioner Dave Jones has approved a license for States Title Insurance Company of California, the first InsurTech title insurer licensed and domiciled in California. States Title will use data-driven technology to predict the risk and severity of a title defect on a particular property, aiming to deliver title insurance more efficiently and at lower costs.
"We are incredibly pleased to be doing business in the state of California," States Title CEO Max Simkoff said in a statement. "We look forward to bringing much-needed innovation and efficiency to the title insurance industry, as well as top-notch service to our customers."
California welcomes its latest insurer
The Silicon Valley start-up's office is located in San Francisco's Mission District improvement zone.
"California consumers benefit when new competitors enter our insurance market and they use technology to provide more efficient services at a lower cost," Commissioner Jones said in a statement. "I am pleased to approve a license for States Title to not only sell title insurance in California but also to be domiciled here."
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