Systems and methods for automated payment processing
First Claim
1. A computer implemented method of processing loss payments, the method comprising:
- receiving a notice of loss at a computer system, the notice of loss including information contained in one or more fielded data points, the loss due to an automobile accident and including multiple exposures, each exposure representing a discrete portion of the loss that can be processed separately, where each exposure may independently expose an insurance company to liability;
deriving, by the computer system, a payee from the information received;
processing, by the computer system, one or more rules using the information to derive a context of the loss and to derive a payment amount for an exposure of the multiple exposures of the loss based on the context;
determining, by the computer system, whether an automatic payment can be made to the payee after verifying the accuracy of the payment amount for the exposure, where the automatic payment is processed in parallel with other exposures of the multiple exposures;
transferring funds with the computer system to the payee if the automatic payment can be made; and
notifying a customer service representative if the automatic payment cannot be made.
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Accused Products
Abstract
Apparatus and methods to process loss payments are described herein. In one example, an apparatus includes one or more data stores, a rules engine, an audit engine and a payment engine. In another example, the method may include receiving a notice of loss, deriving a payee, processing one or more rules using the information, determining whether an automatic payment can be made and transferring funds if the automatic payment can be made. In a further example, the method may include receiving a notice of loss, the loss having one or more exposures, processing one or more rules for each of the exposures in parallel, determining if an automatic payment can be made for each of the exposures and removing the automatic payment for an exposure if it can not be made while continuing processing payments for the remaining exposures.
79 Citations
18 Claims
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1. A computer implemented method of processing loss payments, the method comprising:
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receiving a notice of loss at a computer system, the notice of loss including information contained in one or more fielded data points, the loss due to an automobile accident and including multiple exposures, each exposure representing a discrete portion of the loss that can be processed separately, where each exposure may independently expose an insurance company to liability; deriving, by the computer system, a payee from the information received; processing, by the computer system, one or more rules using the information to derive a context of the loss and to derive a payment amount for an exposure of the multiple exposures of the loss based on the context; determining, by the computer system, whether an automatic payment can be made to the payee after verifying the accuracy of the payment amount for the exposure, where the automatic payment is processed in parallel with other exposures of the multiple exposures; transferring funds with the computer system to the payee if the automatic payment can be made; and notifying a customer service representative if the automatic payment cannot be made. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A machine-readable medium that processes loss payments on a computer system that performs the following operations:
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receiving a notice of loss at a computer system, the notice of loss including information contained in one or more fielded data points, the loss due to an automobile accident and including multiple exposures, each exposure representing a discrete portion of the loss that can be processed separately, where each exposure may independently expose an insurance company to liability; deriving, by the computer system, a payee from the information received; processing, by the computer system, one or more rules using the information to derive a context of the loss and to derive a payment amount for an exposure of the multiple exposures of the loss based on the context; determining, by the computer system, whether an automatic payment can be made to the payee after verifying the accuracy of the payment amount for the exposure, where the automatic payment is processed in parallel with other exposures of the multiple exposures; transferring funds with the computer system to the payee if the automatic payment can be made; and notifying a customer service representative if the automatic payment cannot be made. - View Dependent Claims (8, 9, 10, 11, 12)
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13. A computer implemented system for processing loss payments, the system comprising at least one subsystem that performs the following operations:
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receiving a notice of loss at a computer system, the notice of loss including information contained in one or more fielded data points, the loss due to an automobile accident and including multiple exposures, each exposure representing a discrete portion of the loss that can be processed separately, where each exposure may independently expose an insurance company to liability; deriving, by the computer system, a payee from the information received; processing, by the computer system, one or more rules using the information to derive a context of the loss and to derive a payment amount for an exposure of the multiple exposures of the loss based on the context; determining, by the computer system, whether an automatic payment can be made to the payee after verifying the accuracy of the payment amount for the exposure, where the automatic payment is processed in parallel with other exposures of the multiple exposures; transferring funds with the computer system to the payee if the automatic payment can be made; and notifying a customer service representative if the automatic payment cannot be made. - View Dependent Claims (14, 15, 16, 17, 18)
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Specification