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SYSTEM FOR DYNAMICALLY CALCULATING CLAIM ALLOCATIONS

  • US 20160104246A1
  • Filed: 10/09/2014
  • Published: 04/14/2016
  • Est. Priority Date: 10/09/2014
  • Status: Active Application
First Claim
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1. A system to dynamically calculate workers'"'"' compensation insurance claim amounts, the system comprising:

  • an insurance risk factor computer storage unit for receiving, storing, and providing insurance risk factor data;

    a processor in communication with the insurance risk factor computer storage unit, wherein the processor is configured for;

    receiving information about a worker potentially entitled to receive a stream of future workers'"'"' compensation payments, including injury information,automatically determining payment values associated with the stream of future payments based at least in part on the injury information,automatically calculating a nominal value associated with the stream of future workers'"'"' compensation payments based at least in part on the information about the worker potentially entitled to receive the stream of future workers'"'"' compensation payments, the automatically determined payment values, and insurance risk factor data,calculating a discount value, wherein reduction of the nominal value by the discount value results in a present value of the stream of future workers'"'"' compensation payments,calculating a portion of the discount value to be allocated to an insured employer that purchased a workers'"'"' compensation insurance policy from an insurer, andtransmitting an indication of the portion of the discount value to be allocated to the insured.

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