SYSTEM AND METHOD FOR MANAGING COMPLEX INSURANCE CLAIMS AT ACCOUNT LEVEL
First Claim
Patent Images
1. A computer system for generating a payment associated with an insurance claim, comprising:
- a data storage device comprising a database and an Account Portal application program;
the database storing;
one or more invoice files, each of the one or more invoice files defining an amount to be paid by an insurer for a service rendered by a vendor in connection with one or more loss events;
one or more disposition files, each one of the one or more disposition files defining an amount to be paid by the insurer as an indemnity payment and/or a settlement payment in connection with one or more loss events;
a plurality of electronic financial files corresponding to a plurality of liability insurance policies covering a plurality of policy periods;
at least one processor connected to the data storage device for executing the Account Portal application program to;
receive a selection of one or more of the invoice files and/or disposition files for payment;
allocate the amount to be paid by the insurer for the selection of one or more of the invoice files and/or disposition files across the plurality of electronic financial files corresponding to the plurality of liability insurance policies covering the plurality of policy periods; and
generate one or more disbursements for the amount to be paid by the insurer for the selection of one or more of the invoice files and/or disposition files.
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Accused Products
Abstract
Provided are systems and methods for administering insurance payments for a loss event that implicates multiple liability insurance policies. In particular, the systems and methods may be used to allocate various portions of an insurance payment across multiple liability insurance policies. The systems and methods further monitor payments allocated to an insurance policy to ensure that the payments allocated to the insurance policy do not exceed defined limits.
14 Citations
20 Claims
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1. A computer system for generating a payment associated with an insurance claim, comprising:
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a data storage device comprising a database and an Account Portal application program; the database storing; one or more invoice files, each of the one or more invoice files defining an amount to be paid by an insurer for a service rendered by a vendor in connection with one or more loss events; one or more disposition files, each one of the one or more disposition files defining an amount to be paid by the insurer as an indemnity payment and/or a settlement payment in connection with one or more loss events; a plurality of electronic financial files corresponding to a plurality of liability insurance policies covering a plurality of policy periods; at least one processor connected to the data storage device for executing the Account Portal application program to; receive a selection of one or more of the invoice files and/or disposition files for payment; allocate the amount to be paid by the insurer for the selection of one or more of the invoice files and/or disposition files across the plurality of electronic financial files corresponding to the plurality of liability insurance policies covering the plurality of policy periods; and generate one or more disbursements for the amount to be paid by the insurer for the selection of one or more of the invoice files and/or disposition files. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A computerized method for generating a payment associated with an insurance claim, comprising
storing, by the Account Portal application program executed on the computer processor, one or more invoice files, each of the one or more invoice files defining an amount to be paid by an insurer for a service rendered by a vendor in connection with one or more loss events; -
storing, by the Account Portal application program executed on the computer processor, one or more disposition files, each one of the one ore more disposition files defining an amount to be paid by the insurer as an indemnity payment and/or a settlement payment in connection with one or more loss events; storing, by the Account Portal application program executed on the computer processor, a plurality of electronic financial files corresponding to a plurality of liability insurance policies covering a plurality of policy periods; receiving, by the Account Portal application program executed on the computer processor, a selection of one or more of the invoice files and/or disposition files for payment; allocating, by the Account Portal application program executed on the computer processor, the amount to be paid by the insurer for the selection of one or more of the invoice files and/or disposition files across the plurality of electronic financial files corresponding to the plurality of liability insurance policies covering the plurality of policy periods; and generating, by the Account Portal application program executed on the computer processor, one or more disbursements for the amount to be paid by the insurer for the selection of one or more of the invoice files and/or disposition files. - View Dependent Claims (8, 9, 10, 11, 12, 13)
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14. A non-transitory, tangible computer-readable medium storing instructions adapted to be executed by a computer processor to perform a method for generating a payment associated with an insurance claim, the method comprising the steps of:
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storing, by the computer processor, one or more invoice files, each of the one or more invoice files defining an amount to be paid by an insurer for a service rendered by a vendor in connection with one or more of the loss events; storing, by the computer processor, one or more disposition files, each one of the one ore more disposition files defining an amount to be paid by the insurer as an indemnity payment and/or a settlement payment in connection with one or more of the loss events; storing, by the computer processor, a plurality of electronic financial files corresponding to a plurality of liability insurance policies covering a plurality of policy periods; receiving, by the computer processor, a selection of one or more of the invoice files and/or disposition files for payment; allocating, by the computer processor, the amount to be paid by the insurer for the selection of one or more of the invoice files and/or disposition files across the plurality of electronic financial files corresponding to the plurality of liability insurance policies covering the plurality of policy periods; and generating, by the computer processor, one or more disbursements for the amount to be paid by the insurer for the selection of one or more of the invoice files and/or disposition files. - View Dependent Claims (15, 16, 17, 18, 19, 20)
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Specification