An AI-powered Title document risk analysis platform for conveyancers has announced an integration with data provider Search Acumen.
Avail specialises in using artificial intelligence to assess legal risk on property titles. The platform describes itself as a way to “simplify the search, purchase and analysis of HM Land Registry (HMLR) title documents, producing a range of instant client friendly reports.”
Search Acumen recently announced the integration of artificial intelligence tool ChatGPT into its existing portal and says it uses AI within its “end-to-end digital due diligence platform (capturing) over 500 layers of essential property data, digitally and on-demand, allowing conveyancers to analyse transaction sites and portfolios with ease.
The firm says the integration with Avail is “rooted in their joint aim to embed technology with the common goal of helping property lawyers by digitally automating tasks to increase efficiency, save time and reduce costs.”
Both Search Acumen and Avail report growing demand from both conveyancers and clients for digitised services. The most recent Conveyancing Market Tracker, published by Search Acumen highlighted the growing demand on conveyancing firms with annual property transactions having nearly doubled in the past decade while the volume of active firms has decreased by 10% over the same period.
Andrew Lloyd, Managing Director at Search Acumen, said:
“It has never been more important to reduce the strain on property lawyers through technology than it is now. Entering into this exciting new venture with Avail will enable us to accelerate our vision to increase digitisation across the sector. We want to help lawyers do things faster and smarter. This partnership will strengthen our ability to present the most efficient and effective methods to achieve this goal.”
This partnership continues our strategy to collaborate with like-minded, innovative firms to give a rounded all-in service to our customers that grasp the possibilities of emerging tech like AI and blockchain. Search Acumen is focused on pushing back the boundaries of 21st century conveyancing to help our clients to support their businesses and ultimately satisfy their clients.”
Search Acumen’s research has calculated that the average conveyancing firm stands to save 115 hours a month through automation, adding up to a saving of more than eight million hours each year across the sector through digitisation.
Dom Conte, Avail’s Chief Product Officer, said:
“We’re delighted to be partnering with Search Acumen – a like-minded business poised to innovate the property sector. We know property due diligence is ripe for disruption, and Search Acumen’s vision for using data and AI to turbocharge the industry is exciting. Avail has found a kindred spirit in this philosophy. By combining best-in-class search with best-in-class AI tools, we can’t wait to explore how this partnership will deliver genuinely game-changing services to our customers.”
