IAA Maintains Better Business Bureau A+ Rating
Continued Alignment with World-Class, Accredited Organizations Promoting Best Practices
Published July 8, 2020 - Written by IAA, Inc.
WESTCHESTER, Ill. – IAA, Inc. (NYSE: IAA), a leading global digital marketplace connecting vehicle buyers and sellers, has again received the highly coveted A+ rating from the Better Business Bureau (BBB). Receiving this rating underscores the company’s focus and commitment to customer satisfaction.
The BBB, a non-profit organization established in 1912, provides ratings that represent how a business is likely to interact with its customers. Assigned from A+ (highest) to F (lowest), BBB ratings are based on information collected directly from businesses and public data sources, including complaints received from the public. The BBB is often recognized by customers as their most trusted source over any other organization for information on a particular business.
As an accredited A+ business, IAA is also recognized by BBB for maintaining a higher standard of excellence within key areas, including:
- Building trust with customers in the industry
- Always maintaining transparency with its customers
- Honoring its promises
- Quickly responding to issues and complaints
- Embodying integrity
“IAA’s ongoing A+ rating as a nationally accredited business, is by far the highest in our industry and recognizes our commitment to providing the best vehicle buying experience,” said Tim O’Day, President U.S. Operations. “IAA has been able to bring our industry-leading technology and innovative solutions to customers globally, and the BBB reaffirming our A+ rating will allow us to further our leadership role in the communities we serve.”
Furthering this commitment, IAA has also developed their Voice of the Customer™ platform, which provides real-time customer data and trends. The platform allows IAA to consistently measure customer sentiment and proactively respond to changes in the market while swiftly implementing modifications or enhancements to products and services. The platform results are reviewed by the company’s Voice of Customer council which includes diverse representation from across the organization and regularly interacts with the company’s Buyer Council. IAA’s goal is to collaborate with the customer to understand the needs, risks and driving characteristics of each segment in the on-going pursuit of making the buying process transparent and the experience exceptional.
IAA, Inc. (NYSE: IAA) is a leading global digital marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique multichannel platform processes approximately 2.5 million total-loss, damaged and low-value vehicles annually. Headquartered near Chicago in Westchester, Illinois, IAA has nearly 4,000 talented employees and more than 200 facilities throughout the U.S., Canada and the United Kingdom. IAA serves a rapidly growing global buyer base – located throughout over 135 countries – and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. Buyers have access to innovative vehicle merchandising, efficient evaluation services and digital bidding tools, enhancing the overall purchasing experience. IAA offers sellers a comprehensive suite of services aimed at maximizing vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns. For more information visit IAAI.com, and follow IAA on Facebook, Twitter, Instagram, YouTube and LinkedIn.
Uncertainties Affecting Forward-Looking Statements
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 the expected timing and associated benefits of the Better Business Bureau rating, and the services, products, and platforms discussed in this release. 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: uncertainties regarding the impact of the COVID-19 outbreak, and measures to prevent its spread, on our business and the economy generally; the loss of one or more significant suppliers or a reduction in significant volume from such suppliers; our ability to meet or exceed customers’ demand and expectations; significant current competition and the introduction of new competitors or other disruptive entrants in our industry; the risk that our facilities lack the capacity to accept additional vehicles and 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; our ability to implement and maintain measures to protect against cyberattacks and comply with applicable privacy and data security requirements; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements, including from our margin expansion program; business development activities, including acquisitions and integration of acquired businesses; our expansion into markets outside the U.S. and the operational, competitive and regulatory risks facing our non-U.S. based operations; our reliance on subhaulers and trucking fleet operations; changes in used-vehicle prices and the volume of damaged and total loss vehicles we purchase; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under "Risk Factors" in our Form 10-K for the year ended December 29, 2019 filed with the SEC on March 18, 2020. Additional information regarding risks and uncertainties will also be contained in subsequent annual and quarterly 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.
SVP, Global Marketing and Communications
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