Press Release

KAR Business Units Support Progressive’s Annual Keys to Progress® Event Honoring America’s Veterans

Published November 7, 2017 - Written by KAR Auction Services

CARMEL, Ind. – Nov. 7, 2017 – A reliable vehicle can mean independence and easier access to work, medical care and educational opportunities for our nation’s veterans – especially for those who live in rural areas with limited public transportation. That’s why KAR Auction Services, Inc. (NYSE: KAR), a global vehicle remarketing and technology solutions provider, and its business units Insurance Auto Auctions, Inc. (IAA) and Preferred Warranties, Inc. (PWI) have teamed up with Progressive in support of its fifth annual Keys to Progress® event.

Every November in honor of Veterans Day, Progressive and its partners host a one-day vehicle giveaway event for veterans. This year, IAA will donate nine vehicles to veterans honored during the event on Nov. 9, 2017. PWI will provide one-year service contracts for most of the more than 100 vehicles donated to veterans at the event.

The Keys to Progress® event takes place at 68 locations across the country including Progressive Service Centers, one-stop facilities where Progressive handles claims and coordinates repairs for customers. At each of the locations, veterans and their families will be presented with keys to their vehicle. Since 2013, Keys to Progress® has donated more than 500 vehicles collectively to deserving veterans, their families and veterans’ organizations.

“Progressive’s Keys to Progress® program is an opportunity for the broader automotive claims industry to come together and support those who have selflessly served our nation,” said John Kett, CEO and president of IAA. “IAA is proud to continue its collaboration with Progressive and help provide transportation support to our military men and women.”

PWI’s one-year vehicle service contracts give the veterans and their families peace of mind knowing their donated vehicle is protected.

IAA will be donating vehicles in the following Progressive locations:

  • 300 N. Commons Blvd., Mayfield Village, Ohio

  • 1410 NW 78th Ave., Miami, Fla.

  • 4030 Crescent Park Dr., Riverview, Fla.

  • 4415 American Way, Baton Rouge, La.

  • 6201 Broadway, Denver, Colo.

  • 2380 Maryland Rd., Willow Grove, Pa.

  • 40770 Mound Rd., Sterling Heights, Mich.

  • 1045 Wisterwood Dr., Houston, Texas

  • 4333 Trans World Park, Schiller Park, Ill.

For a complete list of Keys to Progress® event times and locations, please visit Progressive’s Keys to Progress® site.

Media Inquiries:

Jeanene O’Brien
SVP, Global Marketing and Communications
(708) 492-7328

Analyst Inquiries:

Caitlin Churchill
(203) 682-8200

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.

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 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.