WESTCHESTER, Ill., Sept. 20,
2016 /PRNewswire/ -- Insurance Auto Auctions, Inc. (IAA), a
business unit of KAR Auction Services (NYSE: KAR), and the
leading live and live-online salvage auto auction company, today
announced its newest development, IAA Loss Advisor™. The tool
enables insurance claims staff to quickly generate an early total
loss recommendation based on information they provide regarding the
post-accident condition of the vehicle combined with the ACV
(actual cash value) and IAA salvage vehicle market value data. Loss
Advisor is the latest advancement in the IAA Total Loss Solutions™
first-of-its-kind suite of products that ultimately leads to
increased management of costs, as well as an enhancement in
customer satisfaction and retention.
"The Loss Advisor tool uses insurance company and IAA data to
allow for a significant enhancement in the accuracy of the
evaluation typically given by existing tools regarding early total
loss prediction," said Pat Walsh,
senior vice president of business development, IAA. "Because of
this, Loss Advisor decreases storage and advance charges, reduces
the cycle time and enhances the customer's satisfaction."
"By implementing the Loss Advisor tool, insurers can instill a
greater sense of confidence in customers going through the claims
process, which leads to increased policyholder fulfillment and
retention," said John Kett, CEO and
president, IAA. "This development complements the existing features
of IAA Total Loss Solutions, which serve to further exhibit IAA's
dedication towards being the leading industry expert providing a
seamless suite of technologies that increases the effectiveness of
the total loss claims process."
About Insurance Auto Auctions, Inc.
Insurance Auto Auctions is the leading live and live-online
salvage vehicle auction company and a business unit of KAR Auction
Services (NYSE: KAR). Headquartered in Westchester,
Illinois, IAA has over 170 auction
facilities throughout North America offering towing,
financing and titling services. With the most auction facilities
in North America, IAA provides registered buyers from around
the globe with millions of opportunities to bid on and purchase
donated and salvaged vehicles. Since 1982, IAA has sold millions of
vehicles through its weekly auctions for insurance companies, fleet
and rental companies, financing companies, charity organizations
and the general public. IAA also leverages its business model to
assist charitable organizations in the US through its One Car One
Difference® campaign. To date IAA has provided millions of dollars
in additional funding to charities by assisting in the processing
of donated vehicles. Learn how we are making a difference by
visiting www.1car1difference.com. With a talented team of over
2,700 employees, IAA is committed to providing customers with the
highest level of services in the salvage auto industry. Go
to www.IAA-Auctions.com to learn more, and follow IAA on
Facebook and Twitter.
Jeanene O'Brien | Vice President,
Global Marketing
708-492-7328 | www.iaai.com
Media Inquiries
914-714-0585
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SOURCE Insurance Auto Auctions, Inc.