CARPROOF Reveals Next Generation Vehicle Valuation Tool at Client Advisory Board Meeting
LONDON, ON, Oct. 14, 2014 – Last week, CARPROOF, Canada’s most trusted vehicle history provider, hosted its second annual Client Advisory Board Meeting in Muskoka, Ont. with great success. The event generated excitement and anticipation around innovative new product offerings coming from CARPROOF in the near future.
The Client Advisory Board Meeting was held over three days and attendees included key dealer, auction, corporate, lender and insurance partners. The event gave these industry leaders insight into the company’s vision and strategy for 2015, in particular CARPROOF’s commitment to adding more value to customers by becoming a multi-product, multi-vertical force in the automotive sector – the result of more than two years of strategic planning and investment.
CARPROOF is focused on creating next generation solutions to address automotive industry pain points across all market constituents. As an example, the company revealed plans to launch a vehicle valuation tool that is anchored in using actual retail and wholesale transaction data to provide VIN-specific analysis. This critical data is information that until now hasn’t been available and will completely change the way vehicles are valued and ultimately bought and sold in Canada. In addition, CARPROOF officially announced the acquisition of Canadian Red Book, the leading valuation brand in the government and insurance verticals. CARPROOF plans to materially expand the Canadian Red Book solution over the next year.
“What really matters in vehicle valuation is what cars are selling for and we have that data,” said Paul Antony, President and CEO of CARPROOF. “We’re entering into valuation because of the significant gaps in accuracy that exist right now. It’s a natural extension for CARPROOF and we’re approaching it from the same angle as we do our vehicle history reports – we want to use real transactional data to produce the most accurate and comprehensive valuation tool available in Canada.”
This announcement generated a strong buzz at the event as attendees could already see the impact that this type of offering will have. “CARPROOF is once again going to significantly improve the way we do business,” said Jeff Polo, General Manager of Destination Toyota in Burnaby, B.C. “They are further empowering me to make informed buying and selling decisions.”
CARPROOF, a unit of IHS Markit (Nasdaq: INFO), is a world-class data company that creates insight through information for the automotive industry. Offering solutions in vehicle history, appraisal, valuation and more, the CARPROOF name is synonymous with trusted, impartial and comprehensive used vehicle data. CARPROOF’s products are used by dealerships, vehicle manufacturers, consumers, major auctions, governments, insurance providers and police agencies across Canada, to help users buy, sell and appraise vehicles with full transparency. Based in London, Ontario and founded in 2000, CARPROOF has been named one of Canada’s 50 Best Managed Companies, and was also honoured with Deloitte’s 2013 Technology Fast 50™ and Fast 500™ awards. For more information about CARPROOF, visit www.carproof.com.
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