Insurance claim capitation and predictive payment modeling
First Claim
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1. A system for efficiently using computing resources to process insurance claims, comprising:
- a processor;
a non-transitory computer-readable medium storing instructions that, when executed by the processor, cause the system to;
store, in the non-transitory computer-readable medium, first data representing a model, wherein the model associates a first set of loss attributes of a plurality of loss attributes with a plurality of multipliers and associates a second set of loss attributes of the plurality of loss attributes with a plurality of costs;
receive, via a communication network, second data that comprises information about a vehicle and that comprises vehicle sensor data generated by a sensor device of the vehicle;
select, based on the second data, at least a first loss attribute from the first set of loss attributes and at least a second loss attribute from the second set of loss attributes;
determine a capitated cost of repair of the vehicle based on one or more of the plurality of multipliers associated with the at least the first loss attribute and based on one or more of the plurality of costs associated with the at least the second loss attribute;
identify one or more factors of a customer associated with the vehicle to create a statistical model with the one or more factors;
predict, based on the statistical model in response to a first notice of loss, whether the customer associated with the vehicle is likely to allow an insurance company to manage repair of the vehicle; and
transmit a payment to a repair facility responsive to a determination that the customer associated with the vehicle has accepted an offer transmitted to the customer, wherein the offer is transmitted upon a prediction that the customer will let the insurance company manage the repair and wherein the payment includes an amount based on the capitated cost.
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Abstract
A claim-based capitation model is proposed for handling vehicle repair insurance claims. Rather than determining a detailed estimate of the expected actual cost of repair, the estimate may be determined using a simpler model. For example, the insurance company and a repair facility may agree to following a predictive payment model in which the insurance company pays a fixed predicted capitated amount of money for each repair claim, regardless of the amount of repair work that will be needed. Alternatively, the insurance company may pre-pay a fixed capitated amount for a predicted number of future insurance claims.
9 Citations
19 Claims
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1. A system for efficiently using computing resources to process insurance claims, comprising:
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a processor; a non-transitory computer-readable medium storing instructions that, when executed by the processor, cause the system to; store, in the non-transitory computer-readable medium, first data representing a model, wherein the model associates a first set of loss attributes of a plurality of loss attributes with a plurality of multipliers and associates a second set of loss attributes of the plurality of loss attributes with a plurality of costs; receive, via a communication network, second data that comprises information about a vehicle and that comprises vehicle sensor data generated by a sensor device of the vehicle; select, based on the second data, at least a first loss attribute from the first set of loss attributes and at least a second loss attribute from the second set of loss attributes; determine a capitated cost of repair of the vehicle based on one or more of the plurality of multipliers associated with the at least the first loss attribute and based on one or more of the plurality of costs associated with the at least the second loss attribute; identify one or more factors of a customer associated with the vehicle to create a statistical model with the one or more factors; predict, based on the statistical model in response to a first notice of loss, whether the customer associated with the vehicle is likely to allow an insurance company to manage repair of the vehicle; and transmit a payment to a repair facility responsive to a determination that the customer associated with the vehicle has accepted an offer transmitted to the customer, wherein the offer is transmitted upon a prediction that the customer will let the insurance company manage the repair and wherein the payment includes an amount based on the capitated cost. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. An apparatus for efficiently using computing resources to process insurance claims, comprising:
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a processor; a non-transitory computer-readable medium storing instructions that, when executed by the processor, cause the apparatus to; store, in the non-transitory computer-readable medium, first data representing a model, the model associating one or more first loss attributes with a plurality of multipliers and associates one or more second loss attributes with a plurality of costs; receive, via a communication network, vehicle sensor data that comprises information about a vehicle and is generated by a sensor device of the vehicle; select, based on the vehicle sensor data, a first loss attribute from the one or more first loss attributes and at least a second loss attribute from the one or more second loss attributes; determine a capitated cost of repair of the vehicle based on the plurality of multipliers associated with the first loss attribute and based on one or more of the plurality of costs associated with the second loss attribute; identify one or more factors of a customer associated with the vehicle to create a statistical model with the one or more factors; transmit, to the customer, responsive to a prediction that the customer associated with the vehicle is likely to allow an insurance company to manage repair of the vehicle, an offer to repair the vehicle, wherein the prediction is generated based on the statistical model in response to a first notice of loss; and transmit a payment to a repair facility responsive to a determination that the customer associated with the vehicle has accepted an offer transmitted to the customer. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19)
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Specification