IAA Partners with Dealertrack

By Staff Writer June 11, 2021

IAA Inc. announced an enhanced strategic agreement with Dealertrack to provide electronic registration and titling services in Ohio through facilitating the digital transfer of total loss titles.

The agreement is announced as the global COVID-19 health crisis continues the acceleration of digitization efforts across the automotive industry, which faces yet another challenging year ahead due to the ongoing impacts of inventory shortages.

The enhanced capabilities offered by IAA and Dealertrack will connect consumers, dealerships, and insurers in Ohio for a more efficient, more profitable electronic total loss title processing experience.

Prior to the pandemic, total loss title processing often took 8-10 weeks. This caused a delay in transferring ownership of total loss vehicles, which stalled cash flow for insurance companies, dealers and the downstream players who derive value from fixing, parting out or recycling salvaged vehicles. Twenty-five (25) states offer Electronic Lien and Title solutions (ELT) and 29 allow electronic registration and titling (ERT), including Ohio, which is eligible to transfer total loss titles digitally. 

“The last year catalyzed digital transformation and adoption in many parts of the auto industry including the total loss sector,” said Kaitlin Gavin, vice president of operations, Dealertrack registration and title solutions. “Technology such as the Ohio electronic titling solution can accelerate the loan payoff and the title release, which not only improves sales velocity, but improves the bottom line for dealerships in Ohio and across the country.”

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Last modified on Friday, 11 June 2021 14:25