IAA Launches Technology Innovation for Title Procurement
Published March 8, 2016 - Written by IAA, Inc.
Self-service Dashboard Simplifies Administration, Increases Visibility, and Promotes Policyholder Retention
WESTCHESTER, Ill., March 8, 2016 — 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, recently announced the launch of its Title Procurement Dashboard, a new feature within IAA’s online vehicle inventory management and analysis tool, CSAToday®. The Title Procurement Dashboard is the latest innovation in the IAA Total Loss Solutions suite of products that directly impacts the opportunity to improve customer satisfaction and more effectively manage costs during the total loss claims process.
The new dashboard feature improves the management of the title-procurement process and provides IAA Title Services™ customers with enhanced visibility of document status, enabling total loss claims to be settled more efficiently. “The added capabilities of the Title Procurement Dashboard allow insurance carriers to be alerted to delays and problem documents,” said Pat Walsh, senior vice president of business development, IAA. “The loss to claim settlement timeline is decreased through improved visibility, and this can influence policyholder satisfaction and retention. The faster a total loss claim is settled, the higher probability a policyholder will remain a customer of the insurance company.”
Through the Title Procurement Dashboard, customers are able to identify where they have delays or problems, and to address those individual files that are falling behind timeline targets for loss to claim settlement. This convenient feature not only simplifies the title procurement process, but can also reduce total loss claims cycle time. “IAA designed this dashboard feature to build on our comprehensive solution for insurance clients. We are committed to helping our customers reduce costs, improve cycle times and increase employee engagement within the total loss claims process,” said John Kett, CEO and president, IAA.
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.
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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.
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