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WESTCHESTER, Ill., April 12, 2017 – Insurance Auto Auctions, Inc. (IAA) today announced the launch of IAA Fast Search™, the salvage vehicle industry’s most comprehensive search tool. With over 30 vehicle search and filter options, IAA Fast Search™ provides vehicle buyers with a smart, mobile-friendly tool that delivers more efficient and more accurate search results. The innovative Fast Search functionality complements the recently announced enhancements to IAA’s Vehicle Details™ feature on IAAI.com. Together, these launches help advance IAA’s strategy to deliver increased customer value through technology and innovation.

“IAA is committed to continuously improving and simplifying the buyer experience,” said John Kett, CEO and president of IAA. “Fast Search reduces the time-intensive task of sourcing specific vehicles by enabling buyers to search with both speed and precision. This ultimately helps them bid and buy with greater knowledge, confidence and convenience.”

Additional functionality of the Fast Search technology, which is available on desktop and mobile devices, allows buyers to recall previous searches and quickly pick up where they left off. Buyers can also easily add or remove filters, such as odometer reading, vehicle type or loss type, to refine or expand results at any point during a search.

“We know time and efficiency are highly valued commodities for our buyers,” said Jeanene O’Brien, senior vice president of global marketing. “So we built them a comprehensive and intuitive search tool to help them make better informed decisions more quickly. Fast Search and our growing suite of customer tools, resources and technology help IAA deliver an unmatched buying experience.”

As an industry leader in technology and innovation, IAA has announced 27 new tools and enhancements since January 2010 that anticipate and address the needs of salvage buyers and sellers. The company was the first to invest beyond the physical auction and provide sellers with technology solutions that decrease cycle time, increase customer satisfaction and help manage costs. In 2010, IAA introduced CSAToday®, the salvage industry’s first mobile seller vehicle inventory management tool, followed by the 2011 release of the first live bidding app for Apple and Android. In 2013, IAA’s Market Value™ tool became the first salvage vehicle value tool app released for iPhones. In 2015, IAA released the IAA Total Loss Solutions® suite of products, which has since been supplemented with seven additional customer tools and enhancements. Last month, the company launched its enhanced IAA Vehicle Details™ page, which provides buyers instant access to an industry-leading 320 VIN attributes on any vehicle.

To become an IAA buyer today, go to: https://www.iaai.com/Registration/Free.

To view the new Fast Search tool, go to: https://www.iaai.com/Search.

Media Inquiries:

Jeanene O’Brien
SVP, Global Marketing and Communications
(708) 492-7328
jobrien@iaai.com


Analyst Inquiries:

Caitlin Churchill
ICR
(203) 682-8200
investors@iaai.com

About IAA, Inc.

IAA, Inc. (NYSE: IAA) is a leading global digital marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique multi-channel platform processes approximately 2.5 million total-loss, damaged and low-value vehicles annually. Headquartered near Chicago in Westchester, Illinois, IAA has nearly 4,000 talented employees and more than 200 facilities throughout the U.S., Canada and the United Kingdom. IAA serves a rapidly growing global buyer base – located throughout over 135 countries – and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. Buyers have access to innovative vehicle merchandising, efficient evaluation services and digital bidding tools, enhancing the overall purchasing experience. IAA offers sellers a comprehensive suite of services aimed at maximizing vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns.


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. In particular, statements made that are not historical facts may be forward-looking statements and can be identified by words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions. In this release, such forward-looking statements include statements regarding the expected timing and associated benefits of CSAToday, and the related services, products and platforms discussed in this release. Such statements are based on management’s current expectations, 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. These risks and uncertainties include: uncertainties regarding the impact of the COVID-19 outbreak, and measures to prevent its spread, on our business and the economy generally; the loss of one or more significant suppliers or a reduction in significant volume from such suppliers; our ability to meet or exceed customers’ demand and expectations; significant current competition and the introduction of new competitors or other disruptive entrants in our industry; the risk that our facilities lack the capacity to accept additional vehicles and our ability to obtain land or renew/enter into new leases at commercially reasonable rates; our ability to effectively maintain or update information and technology systems; our ability to implement and maintain measures to protect against cyberattacks and comply with applicable privacy and data security requirements; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements, including from our margin expansion program; business development activities, including acquisitions and integration of acquired businesses; our expansion into markets outside the U.S. and the operational, competitive and regulatory risks facing our non-U.S. based operations; our reliance on subhaulers and trucking fleet operations; changes in used-vehicle prices and the volume of damaged and total loss vehicles we purchase; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under "Risk Factors" in our Form 10-K for the year ended December 29, 2019 filed with the SEC on March 18, 2020. Additional information regarding risks and uncertainties will also be contained in subsequent annual and quarterly reports we file with the SEC. The forward-looking statements included in this release are made as of the date hereof, and we undertake no obligation to publicly update or revise any forward-looking statement to reflect new information or events, except as required by law.