System and Method for Providing Dynamic Insurance Policy Claim and Contest Entry Claim Resolution Infrastructure for Automatically Identifying and Settling Valid Insurance Claims in connection with Previously Acquired Competitive Prize-Bearing Game Event-Related Insurance Policies, and for Automatically Identifying and Resolving Valid Claims in connection with Prize-Bearing Contests

• US 20120282986A1
• Filed: 05/03/2012
• Published: 11/08/2012
• Est. Priority Date: 05/03/2011
• Status: Abandoned Application

• Current Assignee: Bbl Enterprises LLC
• Original Assignee: Bbl Enterprises LLC
• Inventors: Castro, Eugene
• Application Number:
  US13/463,782
• Publication Number:
  US 20120282986A1
• Time in Patent Office: Days
• US Class Current: 463/1
• CPC Class Codes: G07F 17/32 for games, toys, sports, or amusements
• CPC Class Codes: G07F 17/3244 Payment aspects of a gaming system, e.g. payment schemes, setting payout ratio, bonus or consolation prizes

Abstract

The present invention provides a modular and flexible system and method, readily usable in conjunction with various game-event-related insurance policy provision solutions, for selectively and/or automatically identifying and settling eligible claims associated with corresponding previously acquired game-event-related insurance policies, either in a manner transparent to the policyholder, or automatically, but under selective control thereof.

Claims

1. A data processing method for dynamically identifying and settling eligible insurance policy claims for previously purchased game-event-related insurance policies, each having a predetermined coverage condition, comprising the steps of:

(a) monitoring results of at least one game event associated with each previously purchased insurance policy;

(b) identifying at least one eligible claim that meets the at least one predetermined coverage condition in a corresponding insurance policy; and

(c) automatically settling said at least one identified eligible claim.

2. A data processing method for dynamically identifying and settling eligible insurance policy claims for game-event-related insurance policies, each having a predetermined coverage condition, that have been previously purchased by a predetermined policyholder, comprising the steps of:

(a) monitoring results of each game event for which the predetermined policyholder has purchased an associated insurance policy;

(b) identifying at least one eligible claim that meets the at least one predetermined coverage condition in a corresponding insurance policy;

(c) notifying the predetermined policyholder of each identified eligible claim;

(d) enabling the predetermined policyholder to selectively determine the settlement of each eligible claim in accordance with at least one of;

at least one previously configured claim settlement parameter, and one or more newly selected settlement parameter; and

(e) automatically settling said at least one identified eligible claim in accordance with at least one settlement parameter determined at said step (d).