A comprehensive monitoring and protection plan, Total Title Protection, is designed to help protect consumers from real estate fraud, which cost them more than $145M in 2023.
WASHINGTON, Sept. 24, 2024 - Iris® Powered by Generali ("Iris"), provider of a proprietary identity and cyber protection platform, today announced the launch of Total Title Protection, a comprehensive protection package that combines key products and services to help protect homebuyers against home title theft, scams, cyberattacks, and identity fraud.
Paige Schaffer, CEO of Iris, commented on the launch, "As providers of industry-leading identity protection, we are constantly looking out for new fraud trends or changes to the identity theft landscape. While these real estate-related scams & identity theft issues aren't new, we launched Total Title Protection in response to the worrying increase of this type of fraud, which the FBI reported cost consumers more than $145M in 2023 alone. A package that protects against scams, proactively monitors for any changes or filings made to a customer's title, and even provides expert resolution in case of fraud or cyberattacks is unlike any other product out there. This solution gives real estate professionals, lenders, insurance carriers, and builders an edge over their competition by providing their clients protection well beyond the closing date."
Data reported by HousingWire showed that nearly 52% of loans had at least one wire and title fraud risk issue in Q4 of 2023, which was an all-time high. Some key tactics deployed by real estate fraudsters include forging of deeds, fraudulently refinancing a home, and fraudulently applying for a reverse mortgage or home equity line of credit. Some of the offerings unique to Total Title Protection include:
Home Title Monitoring & Alerts – Professionals involved in the home buying process can protect their customers against title fraud by providing continuous monitoring of their property title(s). Customers receive alerts of changes or filings made against their title that could indicate fraud.
$2M Reimbursement for Home Title ID Theft Expenses** – Clients are protected against the costly financial expenses associated with the resolution and restoration of a stolen identity and home title theft. Total Title Protection plan users can receive up to $2 million home title identity theft expense reimbursement.
Caller ID Monitoring and Alerts – Customers are protected against phone impersonation fraud through instant alerts sent when suspicious, masked, inbound, and outbound call attempts occur. These threats include vishing and spoofing.
These offerings are paired with other high-value Iris tools and services, such as high-risk transaction monitoring and alerts, ScamAssist®, personal cyber protection, 24/7 award-winning resolution assistance, and a monthly risk report.
Michele Krisanda, Senior VP of Global Product Development, added, "Iris is going beyond your standard title monitoring or this concept of a "home title lock," which is a misnomer we've seen among many of the products on the market that look to address real estate fraud currently. Since titles get recorded all throughout the country in local courthouses, there's no centralized database that can be "locked" like there is with credit. Our home title solution monitors home title changes from thousands of county recorders offices across the country and sends alerts when we detect activity that could indicate fraud. In addition, our package includes a comprehensive suite of services to help protect the homeowner and resolve issues related to identity theft, scams, and cyberattacks, along with up to $2M expense coverage for identity theft or home title theft incidents."
Over the past year, Iris has continued to enhance its current offerings and roll out new ones, including ScamAssist, which is part of Total Title Protection. Iris plans to continue monitoring trends in identity theft and scams to develop comprehensive solutions, like Total Title Protection, so that consumers are protected both before an incident happens and after one occurs, with the assistance of expert support to rectify it in the event they are scammed, or their identity is stolen.
**DISCLAIMER: The Home Title Theft Expense Reimbursement is underwritten and administered by American Bankers Insurance Company of Florida, an Assurant company, under group or blanket policies issued to Generali Global Assistance, Inc., dba Iris® Powered by Generali for the benefit of its Members. Please refer to the actual policies for terms, conditions, and exclusions of coverage. Coverage may not be available in all jurisdictions. Review the Summary of Benefits for more details.
About Iris® Powered by Generali
Iris® Powered by Generali is a B2B2C global identity and cyber protection company owned by the 190-year-old multinational insurance company, Generali, that is passionate about not just developing effective identity protection solutions but also integrating them into people's lives in a meaningful and impactful way. Today, we partner with some of the world's most well-known brands, protecting their people how they want to be protected, no matter where they are.
To learn more about Iris' offerings, please visit https://www.irisidentityprotection.com/.
Iris Media Contact
M Group Strategic Communications
IrisPR@mgroupsc.com
SOURCE Iris powered by Generali
