Online method and system for fulfilling needs resulting from property and other similar losses
First Claim
1. A system for receiving and valuing insurance claims, comprising:
- a server and a data warehouse in communication with the server, wherein the server is configured to;
receive via a computer network data pertaining to a plurality of claims from insureds;
identify claims having subrogation rights from the plurality of the claims;
determine, using at least historical data stored in a data warehouse, a probability of recovery and an estimated cost of recovery relative to each of the identified claims having subrogation rights;
bundle the identified claims having subrogation rights into a group of claims having commonality according to pre-established criteria;
value the group of claims; and
sell the group of claims in an auction-like manner.
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Accused Products
Abstract
A method of fulfilling needs acquired as a result of property and other similar losses, the method involving the steps of directing a person or entity with a need resulting from a loss to a site on a global computer network, interviewing the person or entity at the site to obtain information about the person or entity and the need they have, and analyzing and processing the information to provide the person or entity automatic access at the site to at least one service that will go toward fulfilling the need of the person or entity. In addition to the method, a system for fulfilling needs acquired as a result of property and other similar losses, the system including a site on a global computer network for fulfilling needs of persons or entities acquired from property and other similar losses, the site having an interviewing component for obtaining information about the person or entity and the need they have, and a data analyzing and processing component for analyzing the information provided by the person or entity and providing the person or entity automatic access at the site to at least one service that will go toward fulfilling the need of the person or entity.
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Citations
31 Claims
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1. A system for receiving and valuing insurance claims, comprising:
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a server and a data warehouse in communication with the server, wherein the server is configured to; receive via a computer network data pertaining to a plurality of claims from insureds; identify claims having subrogation rights from the plurality of the claims; determine, using at least historical data stored in a data warehouse, a probability of recovery and an estimated cost of recovery relative to each of the identified claims having subrogation rights; bundle the identified claims having subrogation rights into a group of claims having commonality according to pre-established criteria; value the group of claims; and sell the group of claims in an auction-like manner. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A computer-implemented method for receiving and valuing insurance claims, comprising:
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receiving at a server via a computer network data pertaining to a plurality of claims from insureds and storing the data in a database; identifying by the server claims having subrogation rights from the plurality of the claims; determining by the server, using at least historical data stored in a data warehouse, a probability of recovery and an estimated cost of recovery relative to the identified claims having subrogation rights; bundling by the server the identified claims having subrogation rights into groups of claims having commonality according to pre-established criteria; valuing by the server the groups of claims; and making by the server the groups of claims available for acquisition via sale in an auction-like manner. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
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19. A computer system for receiving insurance claims, comprising:
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a server, and a data warehouse in communication with the server; the server configured to; perform an automated interview process with a claimant, the interview process including receiving data pertaining to a claim from the claimant; determine that the received claim has subrogation rights; determine a probability of recovery and estimated cost of recovery of the received claim, bundle the received claim with a group of claims having commonality, according to pre-established criteria, to the received claim; value the group of claims; and administer a sale in an auction-like manner of the group of bundled claims. - View Dependent Claims (20, 21, 22, 23, 24, 25)
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26. A computer-implemented method for receiving insurance claims, comprising:
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performing by a server an automated interview process with a claimant, the interview process including receiving data pertaining to a claim from the claimant; determining by the server that the received claim has subrogation rights; determining by the server a probability of recovery and estimated cost of recovery of the received claim grouping by the server the received claim together with a plurality of other claims having commonality according to pre-established criteria to define a portfolio of claims; valuing by the server the portfolio of claims; and administering by the server a sale in an auction-like manner of the portfolio of claims. - View Dependent Claims (27, 28, 29, 30, 31)
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Specification