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To: Doug R who wrote (29371)	5/10/1999 8:59:00 AM
From: ACAN	Respond to of 79270

Doug; IAAI news [ Business \| US Market \| By Industry \| IPO \| AP \| S&P \| International \| PRNews \| BizWire ] Monday May 10, 8:30 am Eastern Time Company Press Release SOURCE: Insurance Auto Auctions, Inc. Insurance Auto Auctions Introduces FastTrack Appraisal Services SCHAUMBURG, Ill., May 10 /PRNewswire/ -- Insurance Auto Auctions, Inc. (Nasdaq: IAAI - news) a leading provider of automotive and specialty services, today introduced FastTrack® 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® 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® 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® 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® 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® 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 www.iaai.com SOURCE: Insurance Auto Auctions, Inc. More Quotes and News: Insurance Auto Auctions Inc (Nasdaq:IAAI - news) Related News Categories: automobiles, insurance Allan