DETERMINING RECOMMENDED SETTLEMENT AMOUNTS BY ADJUSTING VALUES DERIVED FROM MATCHING SIMILAR CLAIMS
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Accused Products
Abstract
Precedent claims that match a pending claim are identified. A general damages amount is determined based on the likelihood value for at least one of the matching precedent claims. A general damages amount is derived from the likelihood value for at least one of the matching precedent claims. Pending claim adjustments are calculated based on amounts associated with the pending claim. Pending claim adjustments are applied to the general damages amount to determine a recommended settlement amount.
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Citations
128 Claims
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1-105. -105. (canceled)
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106. A computer-implemented method for determining amounts for use in settling insurance claims, comprising:
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automatically identifying on an insurance claim processing system one or more precedent claims that match a pending claim based on one or more characteristics of the pending claim; determining a likelihood value for at least one of the matching precedent claims; determining a general damages amount based at least in part on the likelihood value for at least one of the matching precedent claims; calculating one or more pending claim adjustments, wherein at least one of the pending claim adjustments is based on an amount associated with the pending claim; and applying at least one of the pending claim adjustments to the general damages amount to determine a recommended settlement amount. - View Dependent Claims (107, 108, 109, 110, 111, 112, 113, 114, 115, 116, 117, 118, 119, 120, 121, 122, 123, 124, 125)
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126. A system, comprising:
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a processor; a memory coupled to the processor and configured to store program instructions executable by the processor to implement; identifying one or more precedent claims that match an pending claim based on one or more characteristics of the pending claim; determining a likelihood value for at least one of the matching precedent claims; determining a general damages amount based at least in part on the likelihood value for at least one of the matching precedent claims; calculating one or more pending claim adjustments, wherein at least one of the pending claim adjustments is based on an amount associated with the pending claim; and applying one or more pending claim adjustments to the general damages amount to determine a recommended settlement amount.
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127. A tangible, computer readable medium comprising program instructions, wherein the program instructions are computer-executable to implement:
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identifying one or more precedent claims that match an pending claim based on one or more characteristics of the pending claim; determining a likelihood value for at least one of the matching precedent claims; determining a general damages amount based at least in part on the likelihood value for at least one of the matching precedent claims; calculating one or more pending claim adjustments, wherein at least one of the adjustments is based on an amount associated with the pending claim; and applying at least one of the pending claim adjustments to the general damages amount to determine a recommended settlement amount.
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128-168. -168. (canceled)
Specification