WESTCHESTER, Ill. -

Insurance Auto Auctions rolled out its newest tool on Tuesday — IAA Loss Advisor — which the business unit of KAR Auction Services highlighted as a solution that can help insurance claims staff.

The company explained IAA Loss Advisor can quickly generate an early total loss recommendation based on information insurance personnel provide regarding the post-accident condition of the vehicle combined with the ACV (actual cash value) and IAA salvage vehicle market value data.

IAA Loss Advisor is the latest advancement in the IAA Total Loss Solutions, the company’s suite of products that ultimately leads to increased management of costs as well as an enhancement in customer satisfaction and retention.

“The Loss Advisor tool uses insurance company and IAA data to allow for a significant enhancement in the accuracy of the evaluation typically given by existing tools regarding early total loss prediction,” said Pat Walsh, senior vice president of business development at IAA. “Because of this, Loss Advisor decreases storage and advance charges, reduces the cycle time and enhances the customer’s satisfaction.”

Insurance Auto Auctions chief executive officer and president John Kett added, “By implementing the Loss Advisor tool, insurers can instill a greater sense of confidence in customers going through the claims process, which leads to increased policyholder fulfillment and retention.

“This development complements the existing features of IAA Total Loss Solutions, which serve to further exhibit IAA's dedication towards being the leading industry expert providing a seamless suite of technologies that increases the effectiveness of the total loss claims process,” Kett went on to say.