INSURANCE CLAIMS AND RATE EVASION FRAUD SYSTEM BASED UPON VEHICLE HISTORY
First Claim
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1. A computer-implemented method of inferring potential fraud related to a vehicle insurance transaction using an electronic vehicle history database, comprising the steps of:
- identifying a vehicle by at least one of receiving an insurance claim on an insurance policy associated with the vehicle or receiving a request for an insurance quote on the vehicle;
obtaining a VIN for the identified vehicle;
using a computing device, retrieving vehicle history information about the vehicle associated with said VIN from an electronic vehicle history database;
using a computing device, determining if the vehicle history information indicates potential fraud based on factors which show a relationship between said vehicle history information and potential fraud incidents related to the claim or the quote request; and
based on the results of said determination, flagging said incidents of potential fraud for further action.
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Abstract
A system and method of identifying warning signs of fraud associated with vehicle insurance transactions is presented. The system and method operate by identifying a vehicle, retrieving vehicle history information about the vehicle and determining if the vehicle history information indicates potential fraud based on factors which show a relationship between said vehicle history information and potential fraud incidents. Inferences related to an insurance claim or quote are made based on the results of the determination.
100 Citations
69 Claims
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1. A computer-implemented method of inferring potential fraud related to a vehicle insurance transaction using an electronic vehicle history database, comprising the steps of:
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identifying a vehicle by at least one of receiving an insurance claim on an insurance policy associated with the vehicle or receiving a request for an insurance quote on the vehicle; obtaining a VIN for the identified vehicle; using a computing device, retrieving vehicle history information about the vehicle associated with said VIN from an electronic vehicle history database; using a computing device, determining if the vehicle history information indicates potential fraud based on factors which show a relationship between said vehicle history information and potential fraud incidents related to the claim or the quote request; and based on the results of said determination, flagging said incidents of potential fraud for further action. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23)
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24. A computer system designed for inferring potential fraud related to a vehicle insurance transaction using an electronic vehicle history database, comprising:
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means for identifying a vehicle by at least one of receiving an insurance claim on an insurance policy associated with the vehicle or receiving a request for an insurance quote on the vehicle; means for obtaining a VIN for the identified vehicle; means for retrieving vehicle history information about the vehicle associated with said VIN from an electronic vehicle history database; means for determining if the vehicle history information indicates potential fraud based on factors which show a relationship between said vehicle history information and potential fraud incidents related to the claim or the quote request; and means for flagging said incidents of potential fraud for further action based on the results of the determining means. - View Dependent Claims (25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46)
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47. A set of instructions encoded on a computer-readable medium, which when executed by a computer carries out a computer-implemented method of inferring potential fraud related to a vehicle insurance transaction using an electronic vehicle history database, said instructions comprising:
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instructions for identifying a vehicle by at least one of receiving an insurance claim on an insurance policy associated with the vehicle or receiving a request for an insurance quote on the vehicle; instructions for obtaining a VIN for the identified vehicle; instructions for using a computing device, retrieving vehicle history information about the vehicle associated with said VIN from an electronic vehicle history database; instructions for using a computing device, determining if the vehicle history information indicates potential fraud based on factors which show a relationship between said vehicle history information and potential fraud incidents related to the claim or the quote request; and instructions for, based on the results of said determination, flagging said incidents of potential fraud for further action. - View Dependent Claims (48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69)
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Specification