Interactive credential system and method

• US 8,554,584 B2
• Filed: 09/24/2010
• Issued: 10/08/2013
• Est. Priority Date: 07/03/2006
• Status: Active Grant

• Current Assignee: Hargroder Companies Incorporated
• Original Assignee: Hargroder Companies Incorporated
• Inventors: Hargroder, Dwayne Paul
• Primary Examiner(s): Hammond, III, Thomas M
• Application Number:
  US12/890,514
• Publication Number:
  US 20110016056A1
• Time in Patent Office: 1,110 Days
• Field of Search: 705/4
• US Class Current: 705/4
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 50/265 Personal security, identity or safety

Abstract

The interactive credential system and method has a database containing employee-employer-applicant surveyed information, industry specific criteria, such as insurance loss history and account performance, an authorization code for authorizing access to the database and a control device, operatively associated with the database, for presenting weighted scores. The system further includes a surveyed party processor operatively associated with the control device, and wherein the surveyed party processor is capable of transmitting the authorization code to view the surveyed information. The system also has a participant processor that is capable of requesting authorization to download the employee-employer-applicant information, including weighted scores computed from the system'"'"'s algorithms processed from industry specific parameters.

Claims

1. A computerized method of aggregating, scoring, and distributing information on an entity in real time comprising the steps of:

establishing a network interface between a central server, at least one remote data collection terminal and at least one authorized third party terminal, the central server having computer readable memory associated therewith;

receiving information on an entity from the at least one remote data collection terminal, wherein the information includes the entity'"'"'s real time insurance-related information selected from the group consisting of;

insurance premium and insurance loss history, insurance payment history, non-renewal history, cancellations of insurance, motor vehicle reports and prior misrepresentations and combinations thereof, wherein the real time insurance premium and insurance loss history further includes information selected from the group consisting of;

information related to prior employment of the individual, information related to commercial auto insurance, general liability insurance, garage insurance, property insurance, inland marine insurance, workers'"'"' compensation, wherein the workers'"'"' compensation is determined using a real time measurement of the employee'"'"'s insurance performance within a workers compensation insurance program, including the computation of at least one of the specific employee'"'"'s earned premium development and incurred loss information and an employee modifier comparing employee performance to an industry performance result, health insurance, home insurance, personal auto insurance, cargo insurance, umbrella insurance, excess liability insurance, difference in conditions insurance, motor home insurance, recreational vehicle insurance, motorcycle insurance, watercraft insurance, vehicle insurance, commercial insurance, personal insurance, liability fidelity bonds and surety bonds;

storing the information in a database stored in the computer readable memory;

updating the information upon a change therein;

calculating a single weighted score by aggregation of a plurality of separate selected factors of the information, wherein at least one of the selected factors includes workers'"'"' compensation, the single weighted score represents a risk measure of an entity'"'"'s real time insurance-related information, the calculation of the single weighted score being performed by a processor of the central server;

storing the single weighted score in the computer readable memory;

updating the single weighted score upon an updated change in the information on the entity;

transmitting authorization data to view the information and the single weighted score from the at least one authorized third party terminal to the server;

authenticating and authorizing the at least one third parties'"'"' access to the database;

displaying the information and the single weighted score to the at least one third party;

continuously monitoring the database for a change in at least one third party-selected factor;

transmitting an alert signal to the at least one third party terminal upon detection of a change in the at least one third party selected factor; and

transmitting the single weighted score to the at least one third party and monitoring behavior modification and its risk management impact on the single weighted score.

2. The computerized method of aggregating, scoring, and distributing information on an entity as recited in claim 1, wherein the step of requesting authorization to download the information and the at least one weighted score includes paying a request fee by the at least one third party in order to view the real time insurance loss history and account performance information and the at least one weighted score.

3. The computerized method of aggregating, scoring, and distributing information on an entity as recited in claim 2, further comprising the step of transmitting authorization data to update the personal information from the at least one remote data collection terminal to the server.

4. The computerized method of aggregating, scoring, and distributing information on an entity as recited in claim 1, wherein said information is sub-divided into categories including prior claim performance, prior customer satisfaction, insurance payment history, motor vehicle report history, insurance premium size, insurance policy duration and prior complaint filings.

5. The computerized method of aggregating, scoring, and distributing information on an entity as recited in claim 1, wherein the entity is an individual.

6. The computerized method of aggregating, scoring, and distributing information on an entity as recited in claim 5, wherein the individual is an insurance policyholder and the information is policyholder information.

7. The method of claim 1, wherein a motor vehicle report includes at least one of citations, criminal violations, and civil violations from at least one of a state department of motor vehicles and a third party.

8. The computerized method of aggregating, scoring, and distributing information on an entity as recited in claim 1, wherein the risk measure of an entity'"'"'s real time insurance-related information further includes a real time measurement of insurance performance on rate basis.