Auto Bid® started in 1974 as Compute-A-Sale, an industry pioneer in the collection of automobile pricing trends and data. Compute-A-Sale collaborated with automobile dealers to build a comprehensive warehouse of vehicle inventory data. This database included detailed pricing and local market data for vehicles that were for sale on dealers lots. By including only vehicles currently available for sale versus vehicles that had been sold in the database, insurance companies were offered real time, real steel values for their claim settlement process.
In 1991 Compute-A-Sale became Auto Bid Inc. due to the continued strong demand from the insurance industry for more accurate and timely information to assist in the settlement of total loss claims. Auto Bid's relationship with participating dealers helped bridge the gap between book values and actual vehicle pricing resulting in a more streamlined total loss process for insurance companies. Auto Bid® expanded its databases to include property values and classic vehicles for stated value policies.
Growing again in 1993, Auto Bid® added to its offering all specialty vehicle lines including motorcycles, snowmobiles, power water crafts, boats, commercial trucks, heavy duty equipment and farm machinery.
Lonegan Snow LLC, which also owns ClaimSolution Inc. and Dakabi LLC, acquired Auto Bid® in 2005. The acquisition gave Auto Bid® access to unlimited internal technology resources allowing further enhancement to their systems and structure. Today, Auto Bid® runs on the Dakabi claims management solution platform providing increased stability, reduced redundancy, and improved user friendliness.
The partnership of Auto Bid® and Lonegan Snow LLC provides the greatest benefit to the automotive claims industry by providing real time, real steel data and eliminating the need for multiple services and vendors to settle a total loss claim. Insurance customers can now utilize a single, complete service from initial inspection to total loss settlement saving time and increasing their customer's satisfaction