NEW YORK, Sept. 29, 2020 /PRNewswire/ — Spruce, the proptech company powering online real estate transactions nationwide, today announced its partnership with Munich Re, one of the world’s leading reinsurers, to bring cost-effective title insurance fueled by automation to the U.S. market.
The partnership pairs Munich Re’s technical and risk expertise and financial strength with Spruce’s agility and proprietary API-driven technology to help solve a historically stagnant aspect of the title insurance and mortgage industries: price. In addition, U.S. homeowners, investors, and lenders will continue to have access to Spruce’s digital real estate transaction process.
“The consumer experience is at the core of our mission and values,” said Patrick Burns, Spruce CEO and co-founder. “Our automated underwriting paired with the backing and security of Munich Re allows us to offer lower pricing for title insurance and a best-in-class experience for lenders, real estate companies, and consumers. As