IAA’s Technology Superiority Delivers Results to Our Customers Every Day
Published October 22, 2020 - Written by Steve Muscarello
Steve Muscarello, SVP and Chief Commercial Officer at IAA, spotlights IAA’s technology superiority.
It’s only been a week, but I wanted to make sure I followed up on my last newsletter. It’s an exciting and innovative time right now at IAA, and we want you to be the first to know about all of it.
Last week I highlighted that our focus on delivering higher returns, reducing cycle times and providing ease of use to our customers is bolstered by IAA’s best-in-class technology.
IAA’s culture has always been driven by technology and innovation. We opened IAA Engine House™ in Chicago’s 1871 innovation hub in 2019 to foster collaboration with technology leaders and provide a centralized location for ideation and development. Some of our greatest tech-driven customer solutions come from ideation sessions at Engine House. Our proprietary auction platform – IAA AuctionNow™, our IAA Interact™ merchandising platform, and our exclusive IAA Loan Payoff™ portal are just a few examples. Our ideas for the automation of the tower dispatch process and our system and methodology of auction management, both of which IAA has been awarded patents for, also started at Engine House.
When we develop new solutions for our customers, we always seek to provide further reduced cycle-times, increased returns and ease of use. Keeping this in mind, IAA’s products and services are a combination of proprietary and patented solutions like our Automated Tower Dispatch Process, IAA Loan Payoff™ and IAA AuctionNow™, in addition to partnerships with best-in-class technology companies such as SpinCar for offerings like IAA 360 View (part of IAA Interact™) and DealerTrack for additional Loan Payoff™ options. This approach gives IAA and our customers a distinct advantage and allows us to constantly deliver superior products, edging out competitors with our innovative technology.
2020 has shown us just how much the industry – and the world – is moving toward a digital and touchless approach to business. The success of our auction and merchandising platforms have certainly proved this out, and we continue to enhance both AuctionNow and Interact. IAA Loan Payoff is continuing to play a pivotal role for our customers and lenders right now. Just yesterday we released a second Perspectives article about the growing impact of negative equity liens due to the changing times and the pandemic. Our Loan Payoff portal is the only solution in the industry that can handle the entire loan payoff process for both positive and negative equity liens.
As we look to the future, touchless claims continue to be at the forefront of our innovation priorities. We have products and services on the horizon that are completely advanced technology driven, leveraging artificial intelligence and focused on processes such as Title Automation and electronic signature capabilities. These products and innovations underscore our dedication to reduced cycle times, increased customer returns, and ease of use. By utilizing technology like cognitive machine learning and artificial intelligence, we also de-risk the process by removing the potential for human error.
I’ll keep you up to date on our advancements in the technology space. There is so much happening as we continue to provide our customers with superior product and service offerings!
As always, thank you for your business. Stay safe and healthy, and I’ll be in touch again very soon.
Senior Vice President, Chief Commercial Officer, IAA
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