SYSTEMS, METHODS, AND APPARATUS FOR STACKING INSURANCE DEDUCTIBLES
First Claim
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1. An apparatus comprising:
- a processor; and
a computer-readable memory in communication with the processor, the computer-readable memory storing instructions configured so that when executed by the processor the instructions direct the processor to;
determine information relating to a claim associated with damage to an insured, the information comprising an indication of an insurance policy associated with the claim;
determine a first deductible amount for damage to the insured associated with the insurance policy;
determine a second deductible amount for third party liability associated with the insurance policy;
determine an amount of damage to the insured associated with the claim;
determine an amount of damage to a third party associated with the claim;
determine a total deductible amount to apply to the claim, based on the first deductible amount and the second deductible amount; and
transmit an indication of the total deductible amount.
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Accused Products
Abstract
Systems, apparatus, methods, and articles of manufacture provide for facilitating management of insurance claims, including determining a stacked deductible amount based on a deductible associated with coverage of an insured'"'"'s property and a deductible associated with liability coverage against damage to third parties.
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Citations
24 Claims
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1. An apparatus comprising:
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a processor; and a computer-readable memory in communication with the processor, the computer-readable memory storing instructions configured so that when executed by the processor the instructions direct the processor to; determine information relating to a claim associated with damage to an insured, the information comprising an indication of an insurance policy associated with the claim; determine a first deductible amount for damage to the insured associated with the insurance policy; determine a second deductible amount for third party liability associated with the insurance policy; determine an amount of damage to the insured associated with the claim; determine an amount of damage to a third party associated with the claim; determine a total deductible amount to apply to the claim, based on the first deductible amount and the second deductible amount; and transmit an indication of the total deductible amount. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A claim management system comprising:
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a processor; a user interface controlled by the processor; a first computer-readable memory in communication with the processor, the first computer-readable memory storing a database of policy data; and a second computer-readable memory in communication with the processor, the second computer-readable memory storing claim processing instructions configured so that when executed by the processor the instructions direct the processor to; determine claim information relating to a claim; determine, based on the claim information, that a third party payout is required for the claim; determine, based on the claim information, that damage occurred to an insured; accessing, from the database of policy data, policy information for a policy associated with the claim; determine, based on the policy information, that a third party deductible is associated with the policy; determine, based on the policy information, that a deductible for damage to the insured is associated with the policy; calculate a stacked deductible amount by adding the deductible for damage to the insured to the lesser of (i) the third party payout and (ii) the third party deductible; determine, based on the claim information, a damages payment for the damage to the insured; determine whether the stacked deductible amount is less than the damages payment; and perform one of; (i) if the stacked deductible amount is less than the damages payment, reducing the damages payment by the stacked deductible amount, and providing the reduced damages payment to the insured, or (ii) if the stacked deductible amount is not less than the damages payment, not providing any damages payment to the insured. - View Dependent Claims (12, 13, 14)
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15. A non-transitory computer readable medium storing instructions configured so that when executed by a processor of a computing device the instructions direct the processor to:
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determine, by a computing device comprising at least one processor, information relating to a claim associated with damage to an insured, the information comprising an indication of an insurance policy associated with the claim; determine, by the computing device, a first deductible amount for damage to the insured associated with the insurance policy; determine, by the computing device, a second deductible amount for third party liability associated with the insurance policy; determine, by the computing device, an amount of damage to the insured associated with the claim; determine, by the computing device, an amount of damage to a third party associated with the claim; determine, by the computing device, a total deductible amount to apply to the claim, based on the first deductible amount and the second deductible amount; and transmit, by the computing device, an indication of the total deductible amount. - View Dependent Claims (16, 17, 18, 19, 20, 21, 22, 23, 24)
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Specification