The largest U.S. title insurance underwriter, Fidelity National Financial Inc., is reportedly planning to expand operations in India as its workforce there moves beyond data entry and into title insurance search and underwriting, database management, and software development.
Established three years ago, Fidelity National Financial India currently employs more than 850 workers in Bangalore, and will increase its headcount by 1,000 to 1,800 workers next year, according to a report from the Indo-Asian News Service (IANS).
Fidelity has decided to develop integrated software programs for its U.S. title insurance business in India, and will expand a team of software engineers there from 25 to 125 people by the first quarter of 2011, IANS reported.
FNF India managers say they have better worker retention than other "captive BPOs," or business process outsourcing companies. The company was recently recognized by human resource professionals for its innovative workplace recruitment and retention programs at the Asia Pacific HRM Congress.
In its most recent annual report to investors, Fidelity said it laid off 5,400 workers companywide in 2007 and 2008 as orders for title insurance declined. Employment at Fidelity National Title Group bounced back from an average of 13,957 workers in 2008 to 14,661 in 2009, after Fidelity’s acquisition of LandAmerica Financial Group Inc.’s underwriting companies.