“Insurance Risk Management Systems and Methods” in Patent Application Approval Process (USPTO 20220284516): Patent Application – InsuranceNewsNet


2022 Sep 27 (NewsRx) — By a News Reporter – Staff News Editor at Daily Insurance News — A patent application by inventors Giudici, Jeffrey (Westwood, MA, WE); guyen, Hoang (Revere, MA, WE); Kouri, Damon (Hanover, MA, WE); Lucia, Deborah (Medford, MA, WE); Schröder, Michael (Westwood, MA, WE); Telsey, Stacia (Glen Allen, VirginiaUnited States), filed on May 24, 2022was posted on September 8, 2022According to reports from washington d.c.by NewsRx correspondents.

This patent application has not been attributed to any company or institution.

The following quote was obtained by the news editors from background information provided by the inventors: “Various companies and third-party providers ensure that the companies guaranteeing the loans have appropriate insurance, for example, to ensure that the owner of the loan(s) is protected, for example in the event of a natural disaster.Many companies that provide such insurance use enterprise software, such as that provided by Midland.

In addition to the background information obtained for this patent application, NewsRx reporters also obtained the inventors’ summary information for this patent application: “Various embodiments of the present invention relate to an electronic data management system that tracks and displays, for a plurality of loans or other financial instruments, loan-related information, such as information about the status of the loan or other financial instrument (for example, whether a particular loan is in effect), availability, and status of loan documentation, payment information, and other information The system may generate communications such as automatically generated letters to communicate information (such as action items, status reports , notices of deficiency, etc.) to various involved parties such as a borrower, lender, insurance provider urance, mortgage holder or service agent, title holder, title company, bank or other entity. »

The claims provided by the inventors are:

“1. A method comprising: for each of a plurality of properties which each include collateral for one or more loans each having insurance requirements, receiving, by at least one processor in electronic communication with at least one memory having at least a database, insurance information relating to each of one or more insurance policies associated with the respective property, wherein the insurance information includes compliance information indicating whether one or more predetermined insurance requirements apply to the respective one or more insurance policies associated with the respective property have been satisfied, the one or more predetermined insurance requirements including a first requirement applicable to a first insurance policy and a second requirement applicable to a second insurance policy assurance; based on the received compliance information, determine, by at least one processor, for each of are one or more loans on each of the plurality of properties, if each of the one or more respective predetermined insurance requirements have been met, wherein the action of determining whether each of the one or more respective predetermined insurance requirements has been met includes (1) determining that the first requirement associated with the first policy of insurance has been met and (2) determining that the second requirement associated with the second policy has not been met; populating, by the at least one processor, the at least one database based on the received insurance information, wherein the act of populating the at least one database includes (1) storing, in a first database entry associated with the first insurance policy, information indicating that the first requirement has been met and (2) storing, in a second database entry associated with the second insurance policy, information indicating that the second requirement has not been met; receiving, by the at least one processor, from a first user a first request for information indicating whether the first requirement has been met; in response to the first request, querying, by the at least one processor, the first database entry; in response to querying the first database entry, causing, by the at least one processor, first indicia indicating that the first requirement has been met to be displayed at a user interface; receiving, by the at least one processor, a second request for information indicating whether the second requirement has been satisfied; in response to the second request, querying, by the at least one processor, the second database entry; in response to querying the second database entry, causing, by the at least one processor, second indicia indicating that the second requirement has not been met to be displayed at a user interface; after having caused the display of the second indicia, receiving, by the at least one processor, updated compliance information; determining, by at least one processor, that the second requirement has been met based on the updated compliance information; receiving, by the at least one processor, a third request for information indicating whether the second requirement has been met; and in response to the third request, causing, by at least one processor, third indicia indicating that the second requirement has been met to be displayed on a user interface.

URL and more information on this patent application, see: Giudici, Jeffrey; guyen, Hoang; Khouri, Damon; Lucie, Deborah; Schroeder, Michael; Telsey, Stacia. Insurance risk management systems and methods. Class May 24, 2022 and posted September 8, 2022. Patent URL: https://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PG01&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.html&r=1&f=G&l=50&s1=%2220220284516%22.PGNR.&OS= DN/20220284516&RS=DN/20220284516

(Our reports provide factual information on research and discoveries around the world.)

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