Insurance Auto Auctions Announces Express Notary Ability For Total Loss Settlements

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.

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SOURCE Insurance Auto Auctions, Inc.