WESTCHESTER, Ill., Oct. 1, 2015 /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 the launch of IAA Total Loss
Solutions™, a suite of products that directly impacts the
opportunities to improve customer satisfaction and more effectively
manage costs during the total loss claims process. The first
two product lines the company has launched are IAA Inspection
Services™ and IAA Title Services™.
"Our customers are consistently focused on providing the best
possible experience for their insureds while increasing the
efficiency of their claims process," said John Kett, CEO and president, IAA. "The total
loss claims process has become a more important success factor for
our property and casualty carrier clients, as well as a primary
influencer of customer satisfaction and retention."
"These are the first products IAA is bringing to market within
our Total Loss Solutions strategy," commented Pat Walsh, senior vice president of business
development, IAA. "We completed extensive research on the
total loss claims process and our results clearly indicate that
opportunity exists to help our clients improve customer
satisfaction and gain economic benefits."
IAA Inspection Services was developed to reduce the cycle
time from date-of-loss to total loss determination. Three
offerings are included: Enhanced Images, Condition Report and
Appraisal. These offerings are designed to allow direct
towing to the salvage auction, where high-resolution imagery can
support virtual inspection of vehicles, resulting in faster cycle
time and reduced claims cost. Efficiencies within the
inspection process can be further leveraged by IAA providing a
pre-loss vehicle condition and option report, and a vehicle
valuation to provide a comprehensive solution to the total loss
claims process.
IAA Title Services includes three offerings, all designed
to suit the specific needs of the customer, including: Title
Procurement, Title Solutions and Title Direct. Title Procurement is
a seamless offering that can be used by carriers to manage the
document procurement process on all total loss claims. Title
Solutions can be utilized on those complex claims with unresolved
title and document issues. Title Direct is a service that
allows documents from multiple sources, typically the insured and
lienholder, to be sent directly to an IAA Branch, reducing cycle
time and cost for the carrier.
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 165
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
2,000 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
(708) 492-7328 | www.iaai.com
Logo -
http://photos.prnewswire.com/prnh/20150617/223790LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/insurance-auto-auctions-launches-total-loss-solutions-suite-of-products-300152892.html
SOURCE Insurance Auto Auctions, Inc.