Platform Processes Transactions Faster, Increases Customer Satisfaction
WESTCHESTER, Ill.–(BUSINESS WIRE)–DDI Technology (“DDI”) a leading electronic vehicle title and registration technology firm and a subsidiary of IAA, Inc. (NYSE: IAA), a leading global digital marketplace connecting vehicle buyers and sellers, announces the expansion of their electronic title and registration product offering into the state of Indiana as an authorized Partial Service Provider of Electronic Title & Registration (ETR) and salvage title processing services.
Through Premier EVR™, DDI will now provide a secure, web-based software system for Indiana dealers to electronically submit vehicle registrations and title applications, along with tag and title transaction fees, directly to the Indiana Bureau of Motor Vehicles (BMV), thereby eliminating trips to the BMV for their customers. Premier EVR™ also allows dealers to access real-time current title, vehicle and owner data and provides quotes for taxes and registration to owners.
“Partnering with the state of Indiana as a service provider aligns with our overall strategy to automate titling and registration services for dealers,” said Todd Phillips, Director of Sales. “Our expert product team and support staff are especially excited about the document management and tracking aspects of our Premier EVR™ product, allowing documents to be sent to the state electronically and eliminating mailing, delivery delays and associated costs.”
“Not only will DDI’s entry into Indiana enable dealers to process transactions faster and increase customer satisfaction, but it will enhance the experience of clients selling vehicles in the state,” said Tab Edmundson, IAA Vice President of Client Solutions and DDI President. “Premier EVR™ is one of several technology solutions contributing to IAA’s ability to reduce the cycle time of closing an insurance claim and selling a total loss asset.”
About IAA
IAA, Inc. (NYSE: IAA) is a leading global digital marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique platform facilitates the marketing and sale of total-loss, damaged and low-value vehicles. Headquartered near Chicago in Westchester, Illinois, IAA has nearly 4,000 employees and more than 200 facilities throughout the U.S., Canada and the United Kingdom. IAA serves a global buyer base – located throughout over 170 countries – and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. Buyers have access to multiple digital bidding and buying channels, innovative vehicle merchandising, and efficient evaluation services, enhancing the overall purchasing experience. IAA offers sellers a comprehensive suite of services aimed at maximizing vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns. For more information on IAA visit IAAI.com, and follow IAA on Facebook, Twitter, Instagram, YouTube and LinkedIn. For more information on DDI visit DDITechnology.com, and follow DDI on Facebook, Twitter, and LinkedIn.
Uncertainties Affecting Forward-Looking Statements
Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made that are not historical facts may be forward-looking statements and can be identified by words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions. In this release, such forward-looking statements include statements regarding the expected timing and associated benefits with respect to DDI’s expansion into the Indiana market on our business and plans regarding our growth strategies, margin expansion plan, and the related platforms and services discussed in this release, and to our customers and company generally. Such statements are based on management’s current expectations, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: uncertainties regarding the duration and severity of the COVID-19 pandemic and measures intended to reduce its spread; the loss of one or more significant vehicle seller customers or a reduction in significant volume from such sellers; our ability to meet or exceed customers’ demand and expectations; significant current competition and the introduction of new competitors or other disruptive entrants in our industry; the risk that our facilities lack the capacity to accept additional vehicles and our ability to obtain land or renew/enter into new leases at commercially reasonable rates; our ability to effectively maintain or update information and technology systems; our ability to implement and maintain measures to protect against cyberattacks and comply with applicable privacy and data security requirements; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements, including from our margin expansion program; business development activities, including acquisitions and integration of acquired businesses; our expansion into markets outside the U.S. and the operational, competitive and regulatory risks facing our non-U.S. based operations; our reliance on subhaulers and trucking fleet operations; changes in used-vehicle prices and the volume of damaged and total loss vehicles we purchase; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under Item 1A “Risk Factors” in our Annual Report on Form 10-K for the year ended December 29, 2019 filed with the SEC on March 18, 2020 and in our Quarterly Report on Form 10-Q for the quarter ended March 29, 2020 filed with the SEC on May 6, 2020, as such risk factors may be amended, supplemented or superseded from time to time by other reports we file with the SEC, including subsequent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Many of these risk factors are outside of our control, and as such, they involve risks which are not currently known that could cause actual results to differ materially from those discussed or implied herein. The forward-looking statements included in this release are made as of the date hereof, and we undertake no obligation to publicly update or revise any forward-looking statement to reflect new information or events, except as required by law.
Contacts
IAA Contacts
Media Inquiries:
Jeanene O’Brien | IAA, Inc.
SVP, Global Marketing and Communications
(708) 492-7328
jobrien@iaai.com
Analyst Inquiries:
Arif Ahmed | IAA, Inc.
VP, Treasury
(708) 492-7257
arif.ahmed@iaai.com
Caitlin Churchill | ICR
(203) 682-8200
investors@iaai.com
