Providing loan services in the event of a total loss claim

US8788406B2 · kind B2 · utility

Assignee

• State Farm Mutual Automobile Insurance Company · US

Inventors

• Leif Agerholm Roll · Bloomington, US
• Jun Wu · Chengdu, CN
• John F. Johnson · Chesapeake, US
• Kimberly D. Leigh · Bloomington, US

Key dates

• Filing date: Sep 13, 2013
• Grant date: Jul 22, 2014
• Expiry date: Sep 13, 2033

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/08
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A computer-based method for automatically providing a loan offer to a customer may include: receiving an indication of a total loss event for the customer's property, collecting prequalification data for the customer from a data source comprising customer-specific data, collecting credit data associated with the customer's credit, determining whether to prequalify the customer for a property replacement loan based at least on (a) the collected prequalification data for the customer and (b) the collected credit data associated with the customer's credit, and in response to a determination to prequalify the customer for a property replacement loan, communicating to the customer an offer for the property replacement loan.