BidFast® | IAA-Insurance Auto Auctions

BidFast^®

BidFast gives insurance providers a quick way to determine total losses, and policyholders guaranteed purchase offers for their vehicles.

Determine Total Losses Quickly

If your policyholders are concerned about their damaged vehicles’ cost of repair, refer them to BidFast for an easy solution. With this tool, vehicles undergo a comprehensive analysis to determine their value, allowing insurance providers to easily obtain bids that include a written, and a 30-day guarantee.

What Does BidFast Do for Insurance Providers?

BidFast gives insurance providers a quick way to determine if a vehicle is repairable or a total loss by providing a market-driven comprehensive analysis. Based on the analysis providers can give their policyholders a documented purchase offer. Policyholders can use the bid and receive immediate payment if they decide to sell to IAA.

How Does BidFast Work?

IAA draws from historical auction data—which meets state Department of Insurance requirements for determining salvage values—to produce a purchase offer. BidFast then sends the purchase offer—which is guaranteed for 30 days—to the insurance provider. BidFast does not pressure policyholders to sell their vehicles through IAA. BidFast purchases vehicles based on the bids it produces.

How Do Insurance Providers Start Using BidFast?

The BidFast team has subject matter experts (SMEs) in boats, RVs, commercial and classic vehicles. BidFast responds to all requests within 4 business hours.

Step 1

Contact your IAA Account Management Representative.

Step 2

IAA will train new providers on how to use the service.

Step 3

Complete form to produce the most accurate salvage value possible.

Step 4

Provide photos if requested to assist in the valuation process.

Need More Information About BidFast?

Contact the IAA Account Management team for questions about BidFast.

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Additional Tools to Assess Vehicle Value

Explore these tools and technologies for effective vehicle management.

IAA Vehicle Value™

IAA Vehicle Value is a cutting-edge tool that delivers more precise vehicle valuations, helping sellers expand overall value and vehicle sales returns. The Vehicle Value model uses machine learning and data mining methods to create accurate, unbiased vehicle values.

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SettlementAssistant.com 

IAA offers SettlementAssistant.com, a convenient online tool that helps insurance carriers settle clients’ total loss vehicle claims faster and more efficiently. This helps carriers speed up the claims process by reducing errors and delays.

Loss Advisor

Get a second opinion with Loss Advisor. Offered through CSAToday, this tool uses predictive analytics and management reporting to help insurance carrier representatives quickly determine whether a vehicle is a candidate for total loss.