Insurance Auto Auctions Releases New Internet Product
25 August 1998
Insurance Auto Auctions Releases New Internet Product for Insurance Company Assignments, Inquiries and Management ReportingSCHAUMBURG, Ill., Aug. 25 -- Insurance Auto Auctions, Inc. announced the release of the newest version of its Internet- based product, DataLink(R), which provides insurance companies with an electronic means to assign total loss and recovered theft vehicles. IAA provides a wide array of services to assist insurance, leasing, and rental car companies with the processing and sale of total loss and recovered theft vehicles. "Our focus has always been to help our customers solve business issues. This new, open-architecture version will provide our customers with a faster, easier, more accurate and cost effective means of sending us their assignments. DataLink(R) also provides real-time access to the status of any vehicle assigned to us anywhere in the U.S., and allows user-defined management reporting to help our customers manage their total loss processing timeline," said James P. Alampi, chairman, chief executive officer and president. "This product sets a new standard for the industry since it doesn't require any software on the users' PC; any customer with a PC, modem, Internet access and a web browser can connect quickly and securely to IAA." Founded in 1982, Insurance Auto Auctions, Inc. is the largest provider of automotive and specialty salvage services in the United States, providing insurance companies with cost-effective, turnkey solutions to process and sell total-loss and recovered-theft vehicles, a $3 billion per year industry. The company currently has 48 auction sites across the United States. This press release contains forward-looking information that is subject to certain risks and uncertainties that could cause actual results to differ materially form those projected, expressed or implied by such forward-looking information. The company's actual results could differ materially from those discussed or implied herein. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the company's annual report, Form 10-K for the fiscal year ended December 31, 1997, or subsequent quarterly reports.