Electronic Data Exchange Will Create Significant Benefits for Insurers
ACD, a leading auto claims technology, decision support, and connector of claims networks for the property and casualty industry today announced an agreement with Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (NYSE: KAR) the leading live and live-online salvage auto auction company. The agreement integrates total loss claims data between the two companies, creating a seamless claims management process for both organizations’ customers.
“We are very excited to be integrating IAA’s data seamlessly into ourplatform for our shared customers. When we decided to build in an auto salvage interface, IAA stepped up and has been an innovative partner to work with,” stated Ernie Bray, CEO of ACD. “Adding the power of a data exchange with IAA helps our growing base of insurers to drive efficiencies and achieve better and faster total loss resolutions,” added Bray.
ACD is a web-based integrated platform that is a critical tool for claims adjusters as it saves them time and ensures higher levels of satisfaction for their customers. Including IAA’s data will enable a claims adjuster to better serve customers and provide them access to various tools that are part of the ACD dashboard. It will enable claims adjusters to directly assign a total loss claim from their own claims solutions site to IAA, eliminating the need to re-key claims into a second site. The electronic data exchange will benefit insurers with cost control as well as cycle time reduction.
IAA President and CEO, John Kett, noted that, “ACD is a nimble technology company, which will help IAA continue to improve its use of new technologies as we continually strive to provide higher quality service to our buyers and sellers.”
The integration was completed on July 06, 2016.
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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 2,400 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