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January 17, 2006

Insurance Auto Auctions enhances online bidding tool

Insurance Auto Auctions has introduced a number of significant enhancements to its internet-based auction tool, claiming to make it easier for buyers to bid on multiple cars across multiple auctions.

By CBR Staff Writer

The US automotive salvage and claims processing services provider claims that enhancements to its I-bid Live product provide online bidders with the ability to monitor and bid on up to eight live auctions across the country through a single window instead of the previous allowance of only one auction per window.

According to Insurance Auto Auctions (IAA), a buyer can now bid on multiple cars located at multiple auctions at the same time, creating additional bidding opportunities.

Our goal has continued to be improving our technology and services to generate the most buying activity possible, and this product enhancement will help achieve that goal by increasing the bidding ability of each of our internet buyers, said Tom O’Brien, CEO of IAA. Improving our buyers’ ability to bid at multiple auctions should have a positive impact on our selling prices, translating into even higher returns for both IAA and our insurance company suppliers.

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