Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services and live and live-online salvage auto auction company, announced the launch of IAA Total Loss Solutions, a suite of products that directly impacts the opportunities to improve customer satisfaction and more effectively manage costs during the total loss claims process. The first two product lines the company has launched are IAA Inspection Services and IAA Title Services.
"Our customers are consistently focused on providing the best possible experience for their insureds while increasing the efficiency of their claims process," said John Kett, CEO and president, IAA. "The total loss claims process has become a more important success factor for our property and casualty carrier clients, as well as a primary influencer of customer satisfaction and retention."
"These are the first products IAA is bringing to market within our Total Loss Solutions strategy," commented Pat Walsh, senior vice president of business development, IAA. "We completed extensive research on the total loss claims process and our results clearly indicate that opportunity exists to help our clients improve customer satisfaction and gain economic benefits."
IAA Inspection Services was developed to reduce the cycle time from date-of-loss to total loss determination. Three offerings are included: Enhanced Images, Condition Report and Appraisal. These offerings are designed to allow direct towing to the salvage auction, where high-resolution imagery can support virtual inspection of vehicles, resulting in faster cycle time and reduced claims cost. Efficiencies within the inspection process can be further leveraged by IAA providing a pre-loss vehicle condition and option report, and a vehicle valuation to provide a comprehensive solution to the total loss claims process.
IAA Title Services includes three offerings, all designed to suit the specific needs of the customer, including: Title Procurement, Title Solutions and Title Direct. Title Procurement is a seamless offering that can be used by carriers to manage the document procurement process on all total loss claims. Title Solutions can be utilized on those complex claims with unresolved title and document issues. Title Direct is a service that allows documents from multiple sources, typically the insured and lienholder, to be sent directly to an IAA Branch, reducing cycle time and cost for the carrier.