August 28, 2016 5:14 AM ET

Commercial Services and Supplies

Company Overview of Insurance Auto Auctions, Inc.

Company Overview

Insurance Auto Auctions, Inc. provides live and live-online auto auction services in North America and internationally. The company engages in facilitating the sale of total loss vehicles; and remarketing lightly damaged, high mileage vehicles for dealers, fleet lease companies, rental companies, and financial institutions. It also provides services for selling agriculture equipment, construction equipment, emergency equipment, forestry equipment, fleet trucks, heavy trucks and trailers, material handling equipment, marine vehicles, and RVs; services for non-profit organizations to process and sell donated vehicles as a source of funding; and resources for charity vehicle donation programs. ...

Two Westbrook Corporate Center

Suite 500

Westchester, IL 60154

United States

Founded in 1982

1,161 Employees

Phone:

708-492-7000

Fax:

708-492-7078

Key Executives for Insurance Auto Auctions, Inc.

Chief Executive Officer and President
Age: 52
Senior Vice President of Finance
Chairman, Member of Compensation Committee, Chairman of KAR AUCTION SERVICES INC, Chairman of KAR Holdings Inc and Chief Executive Officer of KAR Holdings Inc
Age: 56
Director, Member of Compensation Committee, Chief Executive Officer of ADESA Auctions, Chief Executive Officer of KAR AUCTION SERVICES INC and President of ADESA Auctions
Age: 63
Chief Client Officer and Senior Vice President
Age: 67
Compensation as of Fiscal Year 2016.

Insurance Auto Auctions, Inc. Key Developments

Insurance Auto Auctions, Inc. Increases Presence in Texas with Three Strategic Branch Expansions

Insurance Auto Auctions, Inc. (IAA) has announced the expansion and improvement of three locations in Texas Corpus Christi, Houston, and McAllen facilities. Through strategic, ongoing growth, the expansions of facilities serve to both promote IAA's continued dedication to its customers and to add to the company's footprint in the industry, with over 170 locations in North America. IAA Corpus Christi underwent an expansion, and now spans a total of approximately 12 acres. Chosen for expansion based on space demands and to assist in potential future catastrophe (CAT) situations, the enhanced location was officially operational as of May 1. In line with IAA's environmental philosophy, reclaimed asphalt was used in the development of the new acreage. IAA Houston, the company's largest branch, recently completed a building extension to accommodate an additional fourth lane for the popular live IAA Run & Drive® segment of the auction. With over 1,200 units sold per week at this location, expanding the Run & Drive capabilities and hiring another auctioneer will further accommodate the high volume in one of IAA's largest growth markets. As of July 1, IAA McAllen also opened a new live Run & Drive lane to increase the pace of vehicle sales at the facility and increase capacity for IAA's growing buyer base.

Insurance Auto Auctions, Inc. Announces the Expansion of its Branch in Culpeper, Virginia

Insurance Auto Auctions, Inc. announced the recent expansion of its branch in Culpeper, Virginia. The facility now encompasses 10 additional acres of usable property, presenting IAA with increased capacity to enhance operational capabilities. One of six locations in Virginia, the now expanded 32 acre Culpeper facility highlights IAA's strategic expansion in the growing industry. The expansion in Culpeper will enable customers to select from a larger inventory of vehicles with increased convenience, while also providing more flexibility and quality service to buyers and sellers. As part of IAA's continued commitment to better serving its customers, the Culpeper site expansion incorporates many enhanced features, including a brand new garage and motorcycle storage area. The branch is located at 15201 Review Road Culpeper, VA 22701. Auctions will occur every Tuesday at 9:00 A.M. EST.

Insurance Auto Auctions, Inc. Announces New Offering IAA Express Notary

Insurance Auto Auctions, Inc. (IAA) announced its newest offering, IAA Express Notary™, which allows for the electronic assignment of title documents, significantly shortening the cycle time for total loss settlements. This is the newest development in the IAA Total Loss Solutions™ suite of products that directly allows for more management of costs, while simultaneously boosting customer satisfaction and retention. Carriers that choose Express Notary as their document delivery service can tap into a national network of mobile notaries who will travel directly to the vehicle owner and execute documents on the spot. The electronic assignment ability allows the notary requirement to be satisfied at a faster rate, leading to an overall enhancement of the customer experience. In addition, improved cycle time leads to a reduction in costs, as insurance carriers are able to save on vehicle rental fees and to better allocate employee bandwidth.

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