Insurance Auto Auctions, Inc. (IAA) has launched IAA Express Notary, a document delivery service that allows for the electronic assignment of title documents and significantly shortens the cycle time for total loss settlements.
Express Notary 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. The improved cycle time can lead to a reduction in costs, as insurance carriers are able to save on vehicle rental fees and to better allocate employee bandwidth, according to the company.
“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.”
This is the newest development in the IAA Total Loss Solutions line of products that directly allows for more management of costs, according to the company.
“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.”