You can create text template compositions in After Effects wherein the source text can be edited in Premiere Pro. Any composition with text layers can be used as a text template, and unlocked text layers in that composition can be edited in Premiere Pro.
With After Effects CC April 2017 release, you can use Motion Graphics templates to create graphics, which can be shared and edited in Premiere Pro. The Motion Graphics templates expand on text templates in After Effects.
You can share After Effects compositions as text templates with Premiere Pro CC as a single, packaged file that contains all the assets required for that composition. The template behaves like any other imported footage within Premiere Pro, with the added ability to modify the text. Using this feature, you can easily send a text template as a single file to the editor. To make this feature work, you need a free or licensed copy of After Effects installed on the same computer on which you have installed Premiere Pro.
Edit the source text items in the Effect Controls panel in Premiere Pro, and verify that the items appear in the content in Premiere Pro. The changes do not affect the original material in After Effects.
The edited text is sent from Premiere Pro to After Effects and the original text in After Effects is replaced.
You can modify the source text in After Effects for one of the text layers where the text was changed in Premiere Pro. The text does not change in Premiere Pro.
See the Live text templates section in Premiere Pro for details specific to Premiere Pro.
In After Effects, you can add different controls, modify them, and then pack them as shareable Motion Graphics templates. Motion Graphics templates expand on the text templates in After Effects and give more tools to create shareable assets. For more information, see Creating Motion Graphics templates using Essential Graphics panel.