WESTCHESTER, IL - Insurance Auto Auctions, Inc., (IAA) an automotive total loss and specialty salvage services company, has agreed to market an auto lien payoff system developed by Assurant Solutions to U.S. insurance companies.
Assurant Solutions is a provider of title administration services, service contracts, and debt protection programs to auto lenders and dealers. Its recently introduced Web-based Auto Lien Payoff System, know as ALPS, can reduce by as much as two-thirds the amount of time it takes auto insurers and lenders to process and settle claims on totaled vehicles. Through ALPS, insurers and lenders communicate through a dedicated Web site. They can exchange information and move funds electronically, and title delivery is guaranteed.
Assurant Solutions said that ALPS was designed for insurance companies with the needs of the auto insurance, auto salvage, and auto lender markets in mind.