Title Insurance - beneficial or scam

[Steve Vogel]

Having bought 20 properties without title insurance, I'm trying to understand the value of title insurance to a cash buyer.  I have made an offer on a property in Florida.  The owner wont sell without title insurance, believing they get some benefit from it.  The title companies won't close the deal without it, worried that they will get sued if something goes wrong.    Now, I don't believe the seller is considered an insured person to the title company, so I don't see how they benefit.  I guess I see the title companies concern and I'm wondering if there is a modern internet way to handle escrow and closing that bypasses the local title companies.  As for my risk,  I'm comfortable "self insuring" these transactions.  Do other cash investors buy title insurance or skip it?