Catastrophe Response
Hurricane Harvey: Complete
Published February 22, 2018 - Written by John Kett
Summary
Hurricane Harvey made landfall in Houston, leaving immense devastation to the state of Texas and a huge volume of total loss vehicles. With the partnership of our customers, our dedicated CAT teams, our extensive network of towers and the commitment from the Texas Department of Motor Vehicles to turn titles fast, we can announce that as of January 31st, 2018 – with over 95% of inventory sold – IAA has officially closed the books on Harvey!
An unpredictable storm of this magnitude meant our customers needed a rapid response to manage and move the incredible number of flood-damaged inventory. IAA delivered with record-shattering speed compared to any past catastrophic event. We were prepared with space and triggered tower recruitment well before the storm’s landfall so capacity was available for organized vehicle alignment and spacing, ensuring safety and efficiency for buyers and providers. With space, manpower and transport working in harmony, IAA performed at new levels for customers.
Using technology and innovation to lead the way, IAA acted immediately to start getting vehicles picked up and set for sale. Our newly launched IAA Tow App™ kept customers updated in real time throughout the process. Always embracing a flexible auction model, our team implemented a multi-channel auction approach to deal with the influx of vehicles coupled with the needs of our customers and buyers alike. IAA Timed Auctions™ and IAA Direct to Buy Now™ are complements to our already successful live auctions and IAA Buy Now™ channel. With a $26M credit extension from our sister company AFC, buyers financed 6% of Harvey vehicles. IAA simply would not have been able to accomplish it all without the help of our hard working towers and the ingenuity of the Texas DMV – a very sincere thank you to them both.
Though a catastrophe is never a welcome event, IAA realizes that they are unavoidable. IAA is proud of our thorough, efficient and speedy response to Hurricane Harvey. We are committed to constantly refining our CAT preparedness and response through continuous improvement. We know that the service we provide to our customers is valuable during a catastrophic event, and we remain committed to our aggressive, customer centric CAT response approach.
Thank you for your continued partnership with IAA.