SCHAUMBURG, Ill., Aug. 25 /PRNewswire/ -- Insurance Auto Auctions, Inc.
(Nasdaq: IAAI) 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.
SOURCE Insurance Auto Auctions, Inc.
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Related links:
http://www.iaai.com
CONTACT:
Linda C. Larrabee, Sr. VP/CFO of Insurance
Auto Auctions, 847-839-4132; or General Inquiries, Norha Lee,
312-640-6689, Analyst Inquiries, Janine Warell, 312-640-6775, or
Media Inquiries, Katy Rizzo, 312-640-6751, all of The Financial
Relations Board
NOTE TO EDITORS: 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.
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