WESTCHESTER, Ill.--(BUSINESS WIRE)--Insurance Auto Auctions, Inc. (IAA) the leading live and live-online salvage auto auction company and wholly-owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), today announced that it has launched I-Pay through its IAA Buyer App for Apple, making it the first to introduce payment services for salvage buyers via an app in the industry. I-PAY offers qualified buyers with a U.S. bank account the ability to pay for vehicle purchases online, anytime, which brings added benefits to buyers as well as providers. Apple users are already realizing cycle time and efficiency benefits by successfully using the I-Pay service through the IAA Buyer App.
“Technology today is driving how we connect with our buyers and providers, and how we go to auction. It is also playing a significant role in how we measure our performance with respect to cycle time to ensure we are delivering the greatest value to our customers”
Since the IAA Buyer App first debuted in December 2011, thousands and thousands of buyers have been using the software, demonstrating its growing success with customers and an increased focus on technology in the salvage industry. The IAA Buyer App was the industry’s first buyer app to make mobile bidding available on the go. IAA has plans to introduce I-Pay for Android later in 2013.
In addition to I-Pay, IAA has launched a new re-designed buyer landing page for both Apple and Android with enhanced functionality that offers users a more efficient bidding and buying process. The improvements include new features such as “Won History” and “Lost Pre-Bids” complementing existing capabilities which help users search inventory, access branch-specific information and track the status of vehicles. Improved financial tools also help buyers claim vehicles through a more streamlined purchasing process. These added capabilities offer users greater visibility into the auction cycle, which helps them make more informed decisions during the bidding process.
“Technology today is driving how we connect with our buyers and providers, and how we go to auction. It is also playing a significant role in how we measure our performance with respect to cycle time to ensure we are delivering the greatest value to our customers,” said Tom O’Brien, chief executive officer at Insurance Auto Auctions, Inc. “We are committed to constantly improving our technological capabilities to meet the growing demands of our customers and provide a best in class buyer experience.”
Apple App users can also take advantage of the re-designed branch details page, which offers a comprehensive mapping function that provides users with a faster and easier way to identify IAA locations nationwide.
The IAA Buyer app was designed to provide users with access to the unique elements and resources that are available on IAA’s website, iaai.com. The App includes a number of specialized capabilities including a PIN feature which allows for easier access to the site, a variety of user-driven alerts as well as navigation features specific to both Apple and Android versions of the app. IAA has been on the forefront of technological advancements in the industry and was the first to provide users the ability to bid live on vehicles through mobile technology.
About Insurance Auto Auctions, Inc.
Insurance Auto Auctions is the leading live and live-online salvage vehicle auction company and a wholly-owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR). Headquartered in Westchester, Illinois, IAA owns over 160 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 hundreds of 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 1,800 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.