IAA Launches Comprehensive Fast Search Tool
Published April 12, 2017 - Written by IAA, Inc.
WESTCHESTER, Ill., April 12, 2017 – Insurance Auto Auctions, Inc. (IAA) today announced the launch of IAA Fast Search™, the salvage vehicle industry’s most comprehensive search tool. With over 30 vehicle search and filter options, IAA Fast Search™ provides vehicle buyers with a smart, mobile-friendly tool that delivers more efficient and more accurate search results. The innovative Fast Search functionality complements the recently announced enhancements to IAA’s Vehicle Details™ feature on IAAI.com. Together, these launches help advance IAA’s strategy to deliver increased customer value through technology and innovation.
“IAA is committed to continuously improving and simplifying the buyer experience,” said John Kett, CEO and president of IAA. “Fast Search reduces the time-intensive task of sourcing specific vehicles by enabling buyers to search with both speed and precision. This ultimately helps them bid and buy with greater knowledge, confidence and convenience.”
Additional functionality of the Fast Search technology, which is available on desktop and mobile devices, allows buyers to recall previous searches and quickly pick up where they left off. Buyers can also easily add or remove filters, such as odometer reading, vehicle type or loss type, to refine or expand results at any point during a search.
“We know time and efficiency are highly valued commodities for our buyers,” said Jeanene O’Brien, senior vice president of global marketing. “So we built them a comprehensive and intuitive search tool to help them make better informed decisions more quickly. Fast Search and our growing suite of customer tools, resources and technology help IAA deliver an unmatched buying experience.”
As an industry leader in technology and innovation, IAA has announced 27 new tools and enhancements since January 2010 that anticipate and address the needs of salvage buyers and sellers. The company was the first to invest beyond the physical auction and provide sellers with technology solutions that decrease cycle time, increase customer satisfaction and help manage costs. In 2010, IAA introduced CSAToday®, the salvage industry’s first mobile seller vehicle inventory management tool, followed by the 2011 release of the first live bidding app for Apple and Android. In 2013, IAA’s Market Value™ tool became the first salvage vehicle value tool app released for iPhones. In 2015, IAA released the IAA Total Loss Solutions® suite of products, which has since been supplemented with seven additional customer tools and enhancements. Last month, the company launched its enhanced IAA Vehicle Details™ page, which provides buyers instant access to an industry-leading 320 VIN attributes on any vehicle.
To become an IAA buyer today, go to: https://www.iaai.com/Registration/Free.
To view the new Fast Search tool, go to: https://www.iaai.com/Search.
SVP, Global Marketing and Communications
About IAA, Inc.
IAA, Inc. (NYSE: IAA) is a leading global marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique multi-channel platform processes more than 2.5 million vehicles annually. Headquartered near Chicago, IL, IAA has 3,600 talented employees and over 190 facilities throughout the US, Canada and the United Kingdom. IAA provides a broad range of services to insurers, fleet and rental companies, rebuilders, charity organizations and financing companies that dramatically reduce the cycle time of selling a vehicle while also delivering industry-leading economic returns. Buyers have access to the industry’s most-innovative vehicle evaluation and bidding tools, enhancing the overall purchasing experience.
Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made that are not historical facts may be forward-looking statements and can be identified by words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions. In this release, such forward-looking statements include statements regarding our expectations as an independent company and our ability to enhance our competitive position and drive long-term value for shareholders. Such statements are based on management’s current expectations, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. These risks and uncertainties include: fluctuations in consumer demand for and in the supply of damaged and total loss vehicles and the resulting impact on auction sales volumes; our ability to meet or exceed customers’ expectations, as well as develop and implement information systems responsive to customer needs; significant current competition and the introduction of new competitors; competitive pricing pressures; the ability of consumers to lease or finance the purchase of new and/or used vehicles; our ability to obtain land or renew/enter into new leases at commercially reasonable rates; our ability to effectively maintain or update information and technology systems and to implement and maintain measures to protect against cyberattacks; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements; business development activities, including acquisitions and integration of acquired businesses; trends in the vehicle remarketing industry; changes in the volume of vehicle production, including capacity reductions at the major original equipment manufacturers; changes in the market value of vehicles auctioned, including changes in the actual cash value of damaged and total loss vehicles; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; general economic conditions; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under "Risk Factors" in our information statement filed as Exhibit 99.1 to our Registration Statement on Form 10 filed with the SEC on June 13, 2019. Additional information regarding risks and uncertainties will also be contained in subsequent quarterly and annual reports we file with the SEC. The forward-looking statements included in this release are made as of the date hereof, and we undertake no obligation to publicly update or revise any forward looking statement to reflect new information or events, except as required by law.
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