Fault determination of blockchain subrogation claims

US10949926B1 · kind B1 · utility

Assignee

• State Farm Mutual Automobile Insurance Company · US

Inventors

• Shawn M. Call · Bloomington, US
• Jaime Skaggs · Chenoa, US
• Eric Bellas · Bloomington, US
• Douglas A. Graff · West Plains, US
• William J. Leise · Normal, US
• Vicki King · Bloomington, US
• Jacob J. Alt · Downs, US
• Eric R. Moore · Heyworth, US
• Stacie A. McCullough · Bloomington, US

Key dates

• Filing date: Apr 17, 2018
• Grant date: Mar 16, 2021
• Expiry date: Sep 24, 2038

Classification

• Technology area (CPC H): Electricity
• CPC primary: H04L9/50
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A shared ledger operated by a group of network participants according to a set of consensus rules manages and resolves subrogation claims between a clamant and a defendant with arbitration. Evidence regarding the value of the subrogation claim is sent to the shared ledger by the parties to the subrogation claim such as sending data to a smart contract deployed on the shared ledger. The parties to the subrogation claim or entities that are not parties to the subrogation claim may broadcast data relating to fault to the blockchain. The data relating to fault may be evaluated by the parties or entities acting on the parties' behalf to determine fault. A fault determination may be broadcast to the blockchain based upon the analysis of the data relating to fault. Once the claim is resolved, arbitrator may release funds on the chain to the prevailing party or may accept confirmation that any payments have been made between the parties off-chain.