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Insurance Auto Auctions Introduces FastTrack Appraisal Services

10 May 1999

Insurance Auto Auctions Introduces FastTrack Appraisal Services

    SCHAUMBURG, Ill., May 10 -- Insurance Auto Auctions, Inc.
a leading provider of automotive and specialty services, today
introduced FastTrack(R) Appraisal Services in selected markets.  Through this
service, IAA will offer its customers on-site services to evaluate or appraise
damages for probable total loss vehicles.
    Vehicle appraisals are an integral part of the claims management process.
A quick, accurate and cost-effective appraisal solution is critical to
settling a claim.  Through IAA's FastTrack(R) Appraisal Services, insurers now
have access to a partner that can fulfill a greater array of their vehicle
appraisal service needs on total loss vehicles.  FastTrack(R) Appraisal
Services uses a dedicated claims solution team trained on industry-leading
claims management products.  The benefits of this service include shortened
turn-around times, reduced storage fees, reduced car rental expenses and
increased customer satisfaction.  FastTrack(R) customers can electronically
schedule vehicle appraisals.  Once scheduled, IAA will perform the appraisal,
prepare a prior unrelated damage estimate, include digital photographs of the
vehicle and can electronically upload the completed appraisal directly to the
customers' data systems.  Combined with IAA's existing FastTow(R) service,
moving the unit to an IAA location at the earliest determination point and
completing the appraisal can take days off of the settlement process and
dramatically reduce total loss costs.
    Christopher G. Knowles, chief executive officer, commented, "We have been
offering this service in many of our Texas facilities for the past several
months as a pilot test.  We now have a dedicated appraisal management team in
place that is working with our customers in several of our other locations to
implement our FastTrack(R) service.  We will continue to expand this service
as the market dictates."
    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 51 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 from 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 and Form 10-K for the fiscal year ended December 31, 1998.
Among these risks are legislative acts, weather conditions, changes in the
market value of salvage, outcome of litigation, competition, quality and
quantity of inventory available from suppliers and dependence on key insurance
company suppliers.
    For additional information regarding Insurance Auto Auctions free of
charge via fax, dial 1-800-PRO-INFO and use the company's stock symbol,
"IAAI."  Additional information about Insurance Auto Auctions, Inc. is
available on the World Wide Web at http://www.iaai.com