WESTCHESTER, Ill., June 21, 2016 /PRNewswire/ -- 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, today announced its newest offering, IAA Express Notary™, which allows for the electronic assignment of
title documents, significantly shortening the cycle time for total loss settlements. This is the newest development in the IAA
Total Loss Solutions™ first-of-its-kind suite of products that directly allows for more management of costs, while simultaneously
boosting customer satisfaction and retention.
Carriers that choose Express Notary as their document delivery service can tap into a national network of mobile notaries who
will travel directly to the vehicle owner and execute documents on the spot. The electronic assignment ability allows the notary
requirement to be satisfied at a faster rate, leading to an overall enhancement of the customer experience. In addition, improved
cycle time leads to a reduction in costs, as insurance carriers are able to save on vehicle rental fees and to better allocate
employee bandwidth.
"The mobile aspect of Express Notary markedly reduces the time typically required for a total loss settlement to be
processed," said Pat Walsh, senior vice president of business development, IAA. "Because the
notary can meet the vehicle owner at a place and time of their choosing, rather than requiring the vehicle owner to execute the
entire process on their own, the results are distinctively more efficient and more accurate, giving customers a greater sense of
relief."
"By deploying mobile notaries, insurance carriers remove the step in the claims process that customers find most inconvenient,
which in turn leads to increased policyholder satisfaction and retention," said John Kett, CEO and
president, IAA. "Every feature added to IAA Total Loss Solutions further demonstrates IAA's dedication to consistently innovating
as an industry leader to provide a seamless suite of technologies that streamline the total loss claims process for our customers
and theirs."
About Insurance Auto Auctions, Inc.
Insurance Auto Auctions is the leading live and live-online salvage vehicle auction company and a business unit of KAR Auction
Services (NYSE: KAR). Headquartered in Westchester, Illinois, IAA has over 170 auction
facilities throughout North America offering towing, financing and titling services. With the most auction facilities
in North America, IAA provides registered buyers from around the globe with millions of opportunities to bid on and purchase
donated and salvaged vehicles. Since 1982, IAA has sold millions of vehicles through its weekly auctions for insurance companies,
fleet and rental companies, financing companies, charity organizations and the general public. IAA also leverages its business
model to assist charitable organizations in the US through its One Car One Difference® campaign. To date IAA has provided
millions of dollars in additional funding to charities by assisting in the processing of donated vehicles. Learn how we are
making a difference by visiting www.1car1difference.com. With a talented team of over 2,700 employees, IAA is committed to providing customers
with the highest level of services in the salvage auto industry. Go to www.IAA-Auctions.com to learn more, and follow IAA on Facebook and Twitter.
|
Jeanene O'Brien | Vice President, Global Marketing
|
708-492-7328 | www.iaai.com
Media Inquiries
814-714-0585
|
Logo - http://photos.prnewswire.com/prnh/20150617/223790LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/insurance-auto-auctions-announces-express-notary-ability-for-total-loss-settlements-300288058.html
SOURCE Insurance Auto Auctions, Inc.