September 27, 2018
September 27, 2018
WESTCHESTER, Ill. – September 27, 2018 – Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services, Inc. (NYSE:KAR), announced the expanded launch of its IAA Tow AppTM. This enhanced technology utilizes complex data analytics and the latest mobile technology to streamline the dispatch and towing cycle of salvage vehicles. During natural disaster and catastrophic events, IAA recovers flood-damaged and total-loss vehicles on behalf of their insurance customers, clearing roadways for recovery vehicles and expediting the claims process for policy-holders. The second phase of IAA Tow App has been deployed to towing and hauling contractors transporting vehicles impacted by Hurricane Florence and the resulting flooding.
“One of our primary commitments is to quickly and efficiently transport customer assets to our facilities. This is particularly important during catastrophic events when impacted vehicle volumes surge,” said John Kett, president and CEO of IAA. “By digitizing and automating a historically cumbersome, paper-driven assignment process, our towing partners can better manage their assignments and loads. And by accelerating recoveries, we can inventory, process and auction salvage vehicles faster to help our customers and the communities we support get back on their feet.”
The IAA Tow App utilizes inventory management software to automatically push tow assignments directly to IAA contracted towers with capacity on their tow trucks or haulers. When a tow truck driver accepts an assignment, the app opens the mobile device map function to provide driving instructions. Once assigned vehicles are located, drivers can check in and quickly complete the entire transport process via the app — from location, to pick-up, to drop-off at an auction facility or holding yard.
“We’ve leveraged the best mobile technology and fueled it with home-grown engineering and data from across the KAR platform to deliver a fast, simple and intuitive resource for our partners,” said John Krupnik, senior vice president and chief technology officer at IAA. “The app also allows us to deliver real-time tracking and recovery information to our customers so they can monitor the location and status of their assets anytime, anywhere.”
IAA has a Catastrophe Response Team prepared year-round to respond to natural disasters. In advance of Hurricane Florence and its subsequent flooding, IAA secured nearly 1,100 acres available to store recovered vehicles, obtained commitments from over 1,300 towers and has more than 400 IAA team members ready to respond. IAA has 16 branches in Virginia, North Carolina, South Carolina and Georgia with capacity for the anticipated vehicle volume as a result of Hurricane Florence and historic flooding. All IAA branches, including Wilmington, North Carolina, are open and fully operational.
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 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.
Two Westbrook Corporate Ctr.
Westchester, IL 60154
2040 E. Algonquin Rd. Suite 501
Schaumburg, IL 60173
69 Hinckley Rd.
Clinton, ME 04927
69 Hinckley Rd.
Clinton, ME 04927
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