Infrastructure method and system for managing deductibles for insurance policies

US8428976B1 · kind B1 · utility

Assignee

• United Services Automobile Association (USAA) · US

Inventors

• Jeromy Johnson · San Antonio, US
• Michael Chan · Cupertino, US

Key dates

• Filing date: Dec 23, 2010
• Grant date: Apr 23, 2013
• Expiry date: Oct 24, 2031

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q10/10
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method of determining a renewal deductible for an insurance policy includes providing a computer having a processor, determining that a default deductible is less than a current deductible, and determining that a new deductible indicator is negative. The method includes retrieving, using the processor and an available deductible key reference, a plurality of available deductibles from a third table and determining, using the processor, that the plurality of available deductibles does not include the current deductible. The method further includes setting the renewal deductible equal to the available deductible of the plurality of available deductibles higher than and closest to the current deductible if the next higher deductible indicator is in a positive state and setting the renewal deductible equal to the available deductible of the plurality of available deductibles less than and closest to the current deductible if the next higher deductible indicator is in a negative state.