First American Appoints Chief Innovation Officer
March 10, 2022
First American Financial Corp. appointed Paul Hurst as chief innovation officer and will be responsible for identifying opportunities to innovate through strategic venture investments, partnerships, and mergers and acquisitions.
“In this new position, Paul will identify additional opportunities to leverage our strong capital position, nationwide distribution channels, industry-leading data assets, and proprietary technologies, on which we hold more than 30 active patents, to help accelerate our already extensive innovation investments,” said Ken DeGiorgio, chief executive officer of First American Financial Corporation. “Paul’s insightful approach to the rapidly evolving real estate and mortgage finance landscape and his expertise in the process of innovation make him ideally suited for this new role, which will strengthen our position as the leader in the digital transformation of the title and settlement industry.”
In addition to his new role, Hurst, will continue to serve as the managing director of the company’s venture investing arm. He has guided investments in 20 high-growth proptech companies. Many of the proptech companies within First American’s venture portfolio have become strategic partners, positioning First American at the forefront of real estate innovation. As of the end of 2021, the company’s venture investments had produced $355 million in gains.
“Our investments internally and externally connect to a larger, comprehensive strategy that leverages First American’s position as the leading innovator in title and settlement,” Hurst said. “Through sustained, significant investments in our operations and external third parties, we are well positioned to further automate processes, extend our leadership in data breadth and quality, attract and retain top talent, and create products that significantly improve the experience of our customers and all the parties involved in real estate transactions.”
Hurst also helped develop and launch Endpoint, a digital title and settlement company funded by First American that streamlines home closing for real estate agents, buyers and sellers, and empowers proptech companies and investors looking to scale their closing operations. Launched in 2018, Endpoint has rapidly expanded and is currently operating in 20 markets across seven states.
Prior to joining First American, Hurst was a partner at a leading international consulting firm, where he applied a process-based approach to innovation to launch and scale five venture-backed companies across three continents, spanning insurance, financial services and real estate.
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