IAA Launches Active Inventory Management™ Solution
Published July 25, 2017 - Written by IAA, Inc
WESTCHESTER, Ill. – July 25, 2017 – Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services, Inc., (NYSE: KAR), and the leading live and live-online salvage auto auction company, today announced its latest innovation, Active Inventory Management™. The Active Inventory Management™ service enables insurance company customers to save time and resources by outsourcing their entire salvage inventory management process to IAA.
“IAA developed the Active Inventory Management™ solution to help our insurance customers streamline their salvage management process and generate better economic returns,” said John Kett, CEO and president, IAA. “IAA is committed to providing the tools, resources, and technology needed to deliver an unmatched customer experience. Active Inventory Management is the latest enhancement in this effort, and early adopters have already seen improved results in returns, cycle time and internal expense.”
Utilizing IAA’s unique CSAToday® platform, the salvage industry’s first mobile vehicle inventory management tool, IAA is able to actively monitor vehicles, identify issues, and coordinate any resolutions through its dedicated customer service team. Together with the Active Inventory Management Solution™, IAA hopes to help customers drive higher levels of satisfaction and retention amongst their own customer-base. Additionally, with salvage inventory often managed by insurance company employees with multiple responsibilities, Active Inventory Management™ provides a turnkey alternative that can improve APD process efficiency and keep employees focused on other value-added responsibilities.
As an industry leader in technology and innovation, IAA continues to develop new capabilities like Active Inventory Management™ that address and anticipate the needs of salvage buyers and sellers. The company was the first to invest beyond the physical auction and provide sellers and buyers with technology solutions that decrease cycle times, increase customer satisfaction, and help manage costs.
Jeanene O’Brien SVP, Global Marketing and Communications
About IAA, Inc.
IAA, Inc. (NYSE: IAA) is a leading global marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique multi-channel platform processes more than 2.5 million vehicles annually. Headquartered near Chicago, IL, IAA has over 3,600 talented employees and over 190 facilities throughout the US, Canada and the United Kingdom. IAA provides a broad range of services to insurers, fleet and rental companies, rebuilders, charity organizations and financing companies that dramatically reduce the cycle time of selling a vehicle with a focus on delivering the highest economic returns. Buyers have access to the industry’s most-innovative vehicle evaluation and digital bidding tools, enhancing the overall purchasing experience.
Uncertainties Affecting Forward-Looking Statements
Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and which are subject to certain risks, trends and uncertainties. In particular, statements made that are not historical facts may be forward-looking statements. Words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions identify forward-looking statements. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. Such forward-looking statements include the statements regarding IAA’s future financial and operating performance, benefits and synergies of the separation, strategic and competitive advantages, future opportunities and any other statements regarding events or developments that IAA believes or anticipates will or may occur in the future. We disclaim any obligation or undertaking to update any forward-looking statements. For further discussion of such risks and uncertainties, see “Information Statement Summary,” “Risk Factors” and “Cautionary Statement Concerning Forward-Looking Statements” in the information statement filed as an exhibit to IAA’s Registration Statement on Form 10, as amended.