INSURANCE CLAIM PAYMENT CARD SYSTEM

• US 20120239439A1
• Filed: 05/31/2012
• Published: 09/20/2012
• Est. Priority Date: 08/15/2001
• Status: Active Grant

• Current Assignee: e2Interactive Incorporated
• Original Assignee: Meridian Enterprises Corporation
• Inventors: Bush, Lawrence P.
• Granted Patent: US 8,494,883 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• 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 system for the adjudication of insurance claims, such as automobile repair claims, by an insurance provider is provided. A claim submitted by a policyholder is received is received by the insurance provider. The claim is assigned to an insurance adjuster. The insurance provider receives a determination of a dollar value of the claim from the adjuster, and uses this information to determine how much money to disburse to the policyholder. The insurance provider then issues an account funded with the dollar value of the claim to the policyholder, accessible by the policyholder through a card. As the card is used, the insurance provider collects purchase information, such as information relating to the date, place, and amount of each purchase made on the account. The insurance provider may then collate the purchase information in a database and analyze the data for mathematically significant trends and relationships.

Claims

1. A method for facilitating the disbursement of claim payments, comprising the steps of:

(a) receiving from an insurance provider a request to issue a bill-on-redemption card account loaded with a value corresponding to at least a portion of a dollar value of a claim;

(b) issuing a bill-on-redemption card account loaded with a value corresponding to at least a portion of said dollar value of the claim;

(c) receiving purchase information relating to a purchase, wherein the purchase is made using a card associated with the bill-on-redemption card account, and wherein the purchase information includes a purchase price, and;

(d) deducting at least a portion of the purchase price from the value in the bill-on-redemption card account.

2. The method of claim 1, further comprising the step of:

(e) issuing payment to a merchant for at least a portion of the purchase price.

3. The method of claim 1, further comprising the steps of:

(e) entering the purchase information into a database.

4. The method according to claim 3, further comprising the step of:

(f) using the database to review purchase trends.

5. The method according to claim 4, further comprising the step of:

(g) using the database to review insurance investigations for accuracy.

6. The method according to claim 1, wherein the card account is a debit card account.

7. The method according to claim 1, wherein the card account is a credit card account.

8. The method according to claim 1, wherein the claim relates to disability payments.

9. The method according to claim 1, wherein the claim is an insurance claim.

10. The method according to claim 1, wherein the claim relates to an automobile accident.

11. The method according to claim 1, wherein the claim relates to medical treatment.

12. The method according to claim 1, wherein the claim relates to death benefits.

13. The method according to claim 1, wherein the claim relates to property damage.

14. The method according to claim 1, wherein the claim relates to property loss.

15. The method according to claim 1, wherein the claim relates to theft.

16. The method according to claim 1, wherein the purchase information includes a time of purchase.

17. The method according to claim 1, wherein the purchase information includes a place of purchase.

18. The method according to claim 1, further comprising the step of:

(e) closing the account after a predetermined amount of time.

19. The method of claim 18, further comprising the step of:

before step (e), reimbursing a card account recipient any money remaining in the account.

20. The method of claim 1, wherein the value loaded in the bill-on-redemption card account is capped at a predetermined limit as a theft prevention measure.