Online method and system for fulfilling needs resulting from property and other similar losses

• US 20020035528A1
• Filed: 05/25/2001
• Published: 03/21/2002
• Est. Priority Date: 05/26/2000
• Status: Active Grant

• Current Assignee: Alan Aleia, Donald Cadden, Donald Pierce, Douglas Simpson, Joseph Carvalko
• Original Assignee: Alan Aleia, Donald Cadden, Donald Pierce, Douglas Simpson, Joseph Carvalko
• Inventors: Simpson, Douglas, Aleia, Alan, Carvalko, Joseph, Cadden, Donald, Pierce, Donald
• Granted Patent: US 7,624,031 B2
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A method of fulfilling needs acquired as a result of property and other similar losses, the method involving the steps of directing a person or entity with a need resulting from a loss to a site on a global computer network, interviewing the person or entity at the site to obtain information about the person or entity and the need they have, and analyzing and processing the information to provide the person or entity automatic access at the site to at least one service that will go toward fulfilling the need of the person or entity. In addition to the method, a system for fulfilling needs acquired as a result of property and other similar losses, the system including a site on a global computer network for fulfilling needs of persons or entities acquired from property and other similar losses, the site having an interviewing component for obtaining information about the person or entity and the need they have, and a data analyzing and processing component for analyzing the information provided by the person or entity and providing the person or entity automatic access at the site to at least one service that will go toward fulfilling the need of the person or entity.

Claims

1. A method of fulfilling needs of a person or entity acquired as a result of property and other similar losses, the method comprising the steps of:

directing a person or entity with a need resulting from a loss to a site on a global computer network;

interviewing the person or entity at the site to obtain information about the person or entity and the need they have; and

analyzing and processing the information to provide the person or entity automatic access at the site to at least one service that will go toward fulfilling the need of the person or entity.

2. A system for fulfilling needs of a person or entity acquired as a result of property and other similar losses, the system comprising a site on a global computer network for fulfilling needs of persons or entities acquired from property and other similar losses, the site including an interviewing component for obtaining information about the person or entity and the need they have, and a data analyzing and processing component for analyzing the information provided by the person or entity and providing the person or entity automatic access at the site to at least one service that will go toward fulfilling the need of the person or entity.

3. A computer system for fulfilling needs resulting from claims for losses to person or property, the system comprising:

a site generating component for generating a site on a global computer network for inputting insurance claims from a plurality of sources;

a claim data analyzing component for analyzing the inputted insurance claim using deep domain knowledge about claim processing;

a claim rehabilitation component that aggregates services and products related to loss recovery and uses network market-making tools to provide services to consumers and commercial interests which go toward rehabilitating insurance claims.

4. The computer system according to claim 3, wherein the commercial interests include insurers.

5. The computer system according to claim 4, wherein the site is operative as an online claim reporting hub that permits the plurality of sources to report details of personal and commercial insurance claims against any insurer at any time.

6. The computer system according to claim 5, wherein the plurality of sources include individuals and institutions.

7. The computer system according to claim 5, wherein the personal and commercial insurance claims are selected from the group consisting of automobile claims, homeowners claims and business claims.

8. The computer system according to claim 5, wherein the site generating component accepts inputs from the global computer network and respond to site users graphically, in sound and in printable forms.

9. The computer system according to claim 3, wherein the system provides continuous network claim service handling 24 hours a day, 7 day per week.

10. The computer system according to claim 3, further comprising a privacy preserving component for preserving site users'"'"' privacy while online at the site.

11. The computer system according to claim 3, wherein the plurality of sources is selected from the group consisting of individuals who experienced an insurance loss, entities that anticipate claims against its policies, and witnesses to losses.

12. The computer system according to claim 11, wherein the plurality of sources is selected from the group consisting of consumers, policy holders, insurance companies, potentially responsible parties to a lawsuit, and persons reporting claim events whose specific roles have not yet been defined.

13. The computer system according to claim 3, wherein the system is adapted to permit consumers to process their own claims and utilize offered ancillary services and commodities.

14. The computer system according to claim 3, wherein the system is adapted to permit claim processing without an agent, broker or an insurance company.

15. The computer system according to claim 3, wherein the site is operative as an online consumer-to-business exchange that permits vendors of goods and services to advertise and offer products that individuals and businesses require to rehabilitate a loss.

16. The computer system according to claim 3, wherein the claim rehabilitation component suggests multiple vendors and services for performing tasks and requirements associated with rehabilitating a claim.

17. The computer system according to claim 3, wherein the site is operative as an online a business-to-business exchange where sellers, market makers and investors transact for wholesale claims, post-accident purchase and sale of tranches of risk obligations, and subrogation rights.

18. The computer system according to claim 17, further comprising an automatic claim scoring and valuing component for automatically scoring a claim to determine the likelihood of recovery and valuing the claim.

19. The computer system according to claim 18, wherein the automatic claim scoring and valuing component values a claim'"'"'s subrogation value by reviewing criteria including accident description, loss state, and responsible party and then assigns a subrogation value to the claim.

20. The computer system according to claim 19, further comprising a claim bundling component that bundles the scored and valued claim into a group of claims that have commonality to the claim.

21. The computer system according to claim 20, further comprising a sale price determining component for determining a sale price for the bundled group of claims.

22. The computer system according to claim 3, further comprising a database which permits selected users to search for similar claims, thereby enabling the selected users to identify potential claims which are likely to develop as class action suits or mass tort claims.

23. The computer system according to claim 22, further comprising an identity concealment component for concealing the identities of claimants of the claims when searching for similar claims in the database.

24. The computer system according to claim 23, further comprising a pooling component for pooling common issues into anonymous class action groups.

26. The method according to claim 25, wherein the commercial interests include insurers.

27. The method according to claim 26, wherein the site is operative as an online claim reporting hub that permits the plurality of sources to report details of personal and commercial insurance claims against any insurer at any time.

28. The method according to claim 27, wherein the plurality of sources include individuals and institutions.

29. The method according to claim 27, wherein the personal and commercial insurance claims are selected from the group consisting of automobile claims, homeowners claims and business claims.

30. The method according to claim 27, wherein the site generating step includes accepting inputs from the global computer network and responding to site users graphically, in sound and in printable forms.

31. The method according to claim 25, wherein the site generating step includes providing continuous network claim service handling 24 hours a day, 7 day per week.

32. The method according to claim 25, further the step of preserving site users'"'"' privacy while online at the site.

33. The method according to claim 25, wherein the plurality of sources is selected from the group consisting of individuals who experienced an insurance loss, entities that anticipate claims against its policies, and witnesses to losses.

34. The method according to claim 33, wherein the plurality of sources is selected from the group consisting of consumers, policy holders, insurance companies, potentially responsible parties to a lawsuit, and persons reporting claim events whose specific roles have not yet been defined.

35. The method according to claim 25, wherein the site is operative as an online consumer-to-business exchange that permits vendors of goods and services to advertise and offer products that individuals and businesses require to rehabilitate a loss.

36. The method according to claim 25, wherein the aggregating step includes suggesting multiple vendors and services for performing tasks and requirements associated with rehabilitating a claim.

37. The method according to claim 25, wherein the site is operative as an online a business-to-business exchange where sellers, market makers and investors transact for wholesale claims, post-accident purchase and sale of tranches of risk obligations, and subrogation rights.

38. The method according to claim 37, further comprising the step of automatically scoring a claim to determine the likelihood of recovery and valuing the claim.

39. The method according to claim 38, wherein the automatic claim scoring and valuing step as it pertains to valuing a claim'"'"'s subrogation value includes reviewing criteria including accident description, loss state, and responsible party and assigning a subrogation value to the claim.

40. The method according to claim 39, further comprising the step of bundling the scored and valued claim into a group of claims that have commonality to the claim.

41. The method according to claim 40, further comprising the step of determining a sale price for the bundled group of claims.

42. The method according to claim 41, further comprising the steps of providing a database and permitting selected users to search for similar claims, thereby enabling the selected users to identify potential claims which are likely to develop as class action suits or mass tort claims.

43. The method according to claim 42, further comprising the step of concealing the identities of claimants of the claims during the claim searching step.

44. The method according to claim 43, further comprising the step of pooling common issues into anonymous class action groups.

25. A method for fulfilling needs resulting from claims for losses to person or property, the method comprising the steps of:

generating a site on a global computer network for inputting insurance claims from a plurality of sources;

analyzing the inputted insurance claim using deep domain knowledge about claim processing;

aggregating services and products related to loss recovery using network market-making tools to provide services to consumers and commercial interests which go toward rehabilitating insurance claims.