American International Group, Inc. Patent applications |
Patent application number | Title | Published |
20140236798 | METHOD AND SYSTEM FOR INITIATING AND CLEARING TRADES - A system and method are provided for facilitating the exchange of data between one or more price providers and customers who communicate with the price providers through various portals, each of which may use it own data format. In transmitting data from customer to price provider, the data output from each portal is normalized to a standardized format and then transmitted to the appropriate price provider(s) where the data exchanged with the various portals can be viewed by a trader at a single display or can be exchanged with an automated pricing engine. The customer may also be provided with a universal Web site at which a customer may access any of the portals' Web sites to simplify access for the customer as well. | 08-21-2014 |
20140058765 | Processing and Optimizing Travel Insurance Transactions - A method and system are provided for processing communications between travel service providers and travel insurers where travel service providers use different messaging formats. A travel service provider transmits itinerary data to a travel insurer in one messaging format. The travel insurer may then convert the itinerary data into a format compatible with the travel insurer's system and determine an optimal policy choice based on the itinerary data. The travel insurer may then transmit this choice to the travel service provider in the travel service provider's preferred messaging format, and the travel service provider offers the product to the consumer through the travel service provider's interface. | 02-27-2014 |
20130185101 | System, Method, and Computer Program Product for Underwriting Mortgage Loan Insurance - Underwriting systems and methods include a non-transitory, tangible computer-readable storage medium bearing instructions for performing underwriting steps for a mortgage insurance product for a mortgage between a borrower and a lender. A processor is adapted to execute an underwriting program contained on the computer-readable medium. A web-enabled interface is adapted to exchange information with partner sites, including to receive loan information, to send mortgage insurance information generated by the underwriting program, and to receive borrower credit information. The underwriting program includes a post-closing underwriting module adapted to perform a post-closing fraud analysis using the loan information received through the web-enabled interface and adapted for use in performing at least a portion of a post-closing borrower credit review using the borrower credit information received through the web-enabled interface within a predetermined period of time after the loan has closed and before a claim under the mortgage insurance product has been received. | 07-18-2013 |
20130085786 | SYSTEM, METHOD, AND COMPUTER PROGRAM PRODUCT FOR DYNAMIC MESSAGING - Dynamic messaging systems and methods include a non-transitory, tangible computer-readable storage medium bearing instructions for performing dynamic messaging steps. A request message is received from a partner site based on a travel product selected by a customer from the partner site. The request message is analyzed using a dynamic messaging service (DMS) module operating within the computer system. A travel insurance product is identified and a message-content is selected from a database based upon information received from the partner site concerning the selected travel product. A quote for the identified travel insurance product is generated. The quotation and the message-content are compiled into a return message, which is communicated to the partner site for display to the customer. | 04-04-2013 |
20120143634 | Systems, Methods, and Computer Program Products for Processing Insurance Claims - Systems, methods, and computer program products for processing a claimant's insurance claim provide the architectural components to facilitate a common philosophy and infrastructure for processing claims in a consistent manner. A highly cohesive infrastructure can be provided that allows for legacy systems to participate in a service-oriented manner. | 06-07-2012 |
20120066008 | Method and System for Processing and Optimizing Travel Insurance Transactions - A method and system for processing communications between travel service providers and travel insurers where travel service providers use different messaging formats. A travel service provider transmits itinerary data to a travel insurer in one messaging format. The travel insurer may then convert the itinerary data into a format compatible with the travel insurer's system and determine an optimal policy choice based on the itinerary data. The travel insurer may then transmit this choice to the travel service provider in the travel service provider's preferred messaging format, and the travel service provider offers the product to the consumer through the travel service provider's interface. | 03-15-2012 |
20120041863 | System, Method and Computer Program Product for Compiling Golden Copy of Securities Pricing - Systems, methods, and computer program products include a golden copy application for compiling golden copies of securities pricing according to a set of securities rules established by a subscriber that can be used in a computing environment and embodied in computer readable media. Disclosed embodiments of a golden copy application can compile each subscriber's golden copy in accordance with specific rules defined by the subscriber relative to which information source should be used for different asset classes. Each subscriber can identify more than one information source for each asset class, and rank those sources in order of desirability. | 02-16-2012 |
20120010908 | SYSTEM, METHOD, AND COMPUTER PROGRAM PRODUCT FOR DETERMINING WORKERS COMPENSATION CLAIMS - An Average Weekly Wage calculator application is provided to implement rules-based technology to assist with the adjudication of Workers' Compensation (WC) claims. The AWW calculator application can be included as part of various embodiments of a method for processing a workers' compensation claim, a system for processing a workers' compensation claim, and a non-transitory, tangible computer-readable storage medium bearing instructions for processing a workers' compensation claim. The AWW calculator can be tailored to include jurisdictionally-specific logic to define the required Payment Periods and calculate the Average Weekly Wage in a particular jurisdiction. | 01-12-2012 |
20120010907 | SYSTEM, METHOD, AND COMPUTER PROGRAM PRODUCT FOR DETERMINING WORKERS COMPENSATION CLAIMS - An Average Weekly Wage calculator application is provided to implement rules-based technology to assist with the adjudication of Workers' Compensation (WC) claims. The AWW calculator application can be included as part of various embodiments of a method for processing a workers' compensation claim, a system for processing a workers' compensation claim, and a non-transitory, tangible computer-readable storage medium bearing instructions for processing a workers' compensation claim. The AWW calculator can be tailored to include jurisdictionally-specific logic to define the required Payment Periods and calculate the Average Weekly Wage in a particular jurisdiction. | 01-12-2012 |
20110153510 | SYSTEM AND METHOD FOR AUTOMATED PROCESSING OF REQUESTS FOR APPROVAL OF MATERIALS FOR BUSINESS DEVELOPMENT - A system and method for automated processing requests for reviewing and approving business development materials, such as marketing flipbooks and request for proposals, etc., for compliance and performance approval employs an application server that presents a web-based request form. A requestor uses the request form to enter information regarding the approval request and to select reviewer. The application server then generates a request document and sends it with the business development materials to the selected reviewer(s). The request form and marketing presentation materials are archived in a database to allow real-time monitoring and future auditing. | 06-23-2011 |
20110055061 | Method and system for retaining customers with interrupted payment streams - A method and system for retaining customers with interrupted payment streams includes identifying an at-risk-for-lapse customer based on at least one failed billing attempt. The at-risk-for-lapse customer by use of at least one communication channel. A billing information database is updated with updated billing information provided by the at-risk-for-lapse customer as a result of the communication, and a transaction record, which is indicative of the failed billing attempt, is recorded in a transaction history for future reference. This method is enabled by use of a specialized software application capable of retrieving, analyzing, and storing customer information from a central database. The software application is capable of identifying the at-risk-for-lapse customer based on certain factors, as well as selecting an appropriate customer contact strategy. | 03-03-2011 |
20110035239 | System, method, and computer program product for valuing and administering annuity with guaranteed minimum withdrawal benefit to generate rising withdrawal stream - Processes, systems, and computer-readable storage media value and administer a variable annuity having a guaranteed minimum withdrawal benefit (GMWB) feature such that an investor can receive a guaranteed rising stream of income. The GMWB feature can be adapted to help create a guaranteed income stream that will last as long as the Covered Person(s) live(s) even if the entire value of the contract has been reduced to zero provided that withdrawals taken are within the parameters of the feature. The GMWB feature can “lock-in” an increased Income Base at the end of a predetermined period that is equal to the greater of (1) actual investment gains on the contract period or (2) an income credit based upon an Income Credit Base, adjusted by withdrawals taken in the prior period. The contract owner may withdraw an amount less than or equal to a Maximum Periodic Withdrawal Amount in each Benefit Period without reducing the Income Base or the Income Credit Base. | 02-10-2011 |
20110016377 | SYSTEM AND METHOD FOR INCIDENT REPORTING - A system and method for incident reporting uses an application server on a network to facilitate the creation of incident reports and distribution of the reports for review, and controls access to the incident reports to protect the integrity and confidentiality of the reports. Each incident report is given a routing profile, which is tailored such that only proper authorized persons can review and/or edit the report. The progress of incident report review and incident investigation is tracked, and the tracking data are stored for monitoring and auditing purposes. Access to selected reports may be given to users on a temporary basis. The incident reports are archived to enable auditing and generation of reports. | 01-20-2011 |
20100325064 | SYSTEM, METHOD, AND COMPUTER PROGRAM PRODUCT FOR CALCULATING WITHDRAWAL AMOUNT UNDER GUARANTEED BENEFIT OF INVESTMENT PRODUCT USING MARKET-BASED VARIABLE RATE - Systems, methods, and computer program products for determining a guaranteed benefit of an investment product include a means for changing an allowable withdrawal amount of the benefit associated with the guarantee based on a market-based interest rate that can be correlated to the hedging cost of the provider in funding the guarantee. | 12-23-2010 |
20100250409 | Computer-implemented method and system for posting journal entries to general ledger - Embodiments of computer-implemented methods and systems for posting non-machine journal entries to a general ledger can help the user validate non-machine journal entries posted to the general ledger. A non-machine journal entry application can be operated on a web platform which can be operated to maintain recurrent entries, create new or correct existing entries, and validate entries before posting them to the general ledger system. Operating the non-machine journal entry application, a user can store and maintain recurring entries in a database; validate a journal batch before posting; post recurring entries; correct existing entries; track journal entry batches sent to the general ledger; report on types of journal entries and posting history; and verify recurring batch completeness from exception, summary and account detail reports. The application centralizes the data entry and collection processes, enforces strict validation and quality control rules, and provides control through management reporting in a web-based environment. | 09-30-2010 |
20100191701 | SYSTEM AND METHOD FOR MANAGING A BUSINESS PROCESS AND BUSINESS PROCESS CONTENT - Aspects of the invention relate to a method and system to manage a business process and business process content, comprising a content management system that includes efficiency-improving and workflow features. Efficiency-improving features allow several people involved in a business process, including those residing in different locations, to store and access documents in a central repository of a content management system. Further, these features manage business process content that include functions such as document handling and searching capabilities that allow users to navigate, search, and develop business content efficiently. In addition, the business process becomes a virtual electronic environment without the need for redundant physical files spread throughout different offices. Alternatively, workflow features allow personnel involved upstream of the business process to record and complete their own tasks, and then annotate and route documents to downstream personnel to facilitate their tasks as part of the business process. | 07-29-2010 |
20100179921 | BEHAVIOR BASED PRICING FOR INVESTMENT GUARANTEE INSURANCE - Aspects of the present disclosure allow an insurance company or other institution to manage its risk by establishing a charge consistent with hedging costs in offering a minimum guarantee on an underlying investment product to its customers. Such guarantees on underlying investment products may be included in, but are not limited to, variable annuities and contingent deferred annuities (CDA). Embodiments of a process are disclosed by which the charge for a guaranteed benefit in an investment product on underlying investments can vary by investor based on actual investment behavior. Advantageously, the insurance company or other institution can better manage its risk by reducing exposure from the actual experience compared to the investment behavior assumption and enable benefits to be charged more precisely for the actual risk taken (e.g., the insurance company can offer lower cost benefits for customers who are more risk averse). | 07-15-2010 |
20100042442 | Home Value Estimator - A home value estimator software application and related method assist a broker to systematically and accurately estimate the value of a customer's home. Another aspect of the disclosure relates to a heuristic research methodology that can be used to determine values of different characteristics of a home to estimate the value of the customer's home. Further, the values are categorized into different levels using other heuristic methods and then stored in at least one matrix in a database. The software application accesses the values based on user input data to calculate an estimate of the value of the customer's home. Thus, the estimate more accurately reflects the appraised value of the home than the prior art. Consequently, an insurance company may quote an initial premium and insurance coverage of home insurance product to a customer that requires less or nor adjustment after a home inspector appraises the home. | 02-18-2010 |
20100036684 | Method and system of insuring risk - A method for underwriting an insurance product includes identifying a plurality of event categories of operational risk loss and drafting information requests for operational risk management components thereof. A database of the insurance company for stores and analyzes information provided by the client to yield an operational risk exposure assessment of the client. | 02-11-2010 |
20100017721 | Method and apparatus for performing a transaction - A system and method for performing a transaction can allow a user to perform a multi-step process on a single web page. The system can receive an initiate-application command from a user at an application server and, in response, initiate an application for facilitating a transaction. The system can present a parameter-request panel, including a set of parameter-request fields, to the user at a client. The system can receive transaction parameters from the user via the set of parameter-request fields. In response to receiving the transaction parameters, the system can present a transaction-options panel, including a set of transaction options associated with the transaction parameters, to the user without obscuring the parameter-request panel. The system can receive from the user a transaction-option selection associated with the set of transaction options and, in response, present a transaction-completion panel to the user without obscuring the parameter-request panel or the transaction-options panel. The transaction-completion panel can include a set of transaction-completion fields associated with the transaction-option selection. The system can receive from the user transaction-completion information via the transaction-completion fields and, in response, complete the transaction. | 01-21-2010 |
20090326987 | COMPREHENSIVE INSURANCE PRODUCT WITH LOSS COVERAGE AND ASSISTANCE SERVICES - Aspects of the disclosure describe systems and methods for providing a combined insurance and assistance product to an insured. Insurance coverage can be provided to the insured for at least one insured loss event in conjunction with assistance services coverage based upon the at least one insured loss event. A base premium for the combined insurance and assistance product can be calculated based at least in part on a premium for the insurance coverage and a premium for the assistance services coverage. Assistance services can include preventive services directed to helping avoid the occurrence of at least one insured loss event and/or rehabilitative services directed to providing assistance after an occurrence of at least one insured loss event. | 12-31-2009 |
20090240530 | METHOD FOR SELLING MARINE CARGO INSURANCE IN A NETWORK ENVIRONMENT - A storage media and method for transacting cargo insurance business in a network environment includes the on-line automation of quoting, billing, certificate issuance, underwriting, and claims processing. Moreover, the method also includes customer qualification and support services, in addition to data collection and analysis, for management report generation. | 09-24-2009 |
20090164258 | SYSTEM AND METHOD FOR SELLING INSURANCE PRODUCTS - A system and method for selling insurance products online is described. The system and method allow a provider to sell insurance products to a customer, either directly or through a broker or aggregator, whereby a single GUI is used for all insurance products sold and the customer only has to enter their personal details once when purchasing multiple insurance products. | 06-25-2009 |
20090089102 | METHODS AND SYSTEMS FOR ADMINISTERING INDEXED LIFE INSURANCE - Disclosed is a system and method for administering a life insurance policy to provide increased interest based on specifically weighted linkage to multiple equity indices that typically may include Standard & Poor's 500 Composite Price Index, Dow Jones EURO STOXX 50, the Hang Seng Index, and/or derivatives thereof wherein the leading-performing index during a look back period is weighted more heavily than any other index. Also disclosed is a computer system using at least one administration component to implement a series of steps associated with administering an equity indexed-interest universal life insurance policy. | 04-02-2009 |
20090063200 | METHOD AND SYSTEM FOR INITIALLY PROJECTING AN INSURANCE COMPANY'S NET LOSS FROM A MAJOR LOSS EVENT USING A NETWORKED COMMON INFORMATION REPOSITORY - A system and method by which an insurance company can make a loss estimate resulting from a loss event use a networked central repository, such as an electronic collaboration site, for collecting and sharing information to be used in the loss projection process. The common repository can be provided on a computer network that is accessible by a plurality of computers. Upon identifying an incident as likely causing a major loss, information concerning the event can be stored in the repository and reviewed to identify entities involved in, or affected by, the event. A database of in-force insurance policies can be searched for policies held by the identified entities. These identified policies can be reviewed to identify those that should be included in the loss estimate. The loss estimate for the event is generated based on the identified in-force policies. | 03-05-2009 |
20090055226 | METHOD AND SYSTEM FOR DETERMINING RATES OF INSURANCE - The invention provides a method and system for determining rates of insurance for travelers based on certain risk parameters. Insurance rates are computed using factor relativities derived from insured data and parameters for several different insurance coverages. Factor relativities are computed through an iterative process using a minimum bias procedure according to each coverage. Parameters are evaluated simultaneously for each coverage to eliminate cross bias from one parameter to another. Once factor relativities are calculated, the system and method allows for a consumer to request a rate on an insurance coverage. The system and method provides the rate using the factor relativities for the requested coverage. The method and system also provides insurance rates to additional or upgraded insurance coverages based on consumer preferences. | 02-26-2009 |
20090043614 | PROCESSES AND SYSTEMS FOR DIRECT MARKETING INSURANCE PRODUCTS WITH VOICE RESPONSE UNIT TO CLOSE SALE THEREOF - The invention provides a method and apparatus for the sale of insurance products using a telemarketing system combined with a voice response unit (“VRU”) housed at a licensed agency to efficiently offer, make, and close the sale of insurance products. The direct marketing process includes providing a lead file to an agency, operating a dialer from the agency to call a consumer, obtaining an indication of interest in an insurance product using an unlicensed agent, and passing the consumer to a VRU housed in a licensed agency to offer and close sale using a pre-approved script. Also, the apparatus for direct marketing of insurance products includes an outbound autodialer, a VRU at a licensed agency, telephonic or computer interfaces, and related connection equipment. | 02-12-2009 |
20080300924 | METHOD AND SYSTEM FOR PROJECTING CATASTROPHE EXPOSURE - A web-based application for an insurance carrier that combines national account information and detailed insurance policy information with catastrophe modeling technology. As an event occurs, the modeling technology determines a projected damage area that the event will cause. The insurance carrier can cross-reference that information with its account and policy information. In a short time, the insurance carrier can generate the following catastrophe exposure data: (1) summary reports indicating the projected number of damaged locations for each account; (2) maps and graphs of each account's affected locations that provide a visual image of the epicenter and the concentration of the losses; and (3) tables with detailed property location information. After receiving this data, the insurance carrier can secure the services of independent adjusters and assign other resources according to the scope and magnitude of the projected loss. | 12-04-2008 |
20080235062 | METHOD AND SYSTEM FOR INITIALLY PROJECTING AN INSURANCE COMPANY'S NET LOSS FROM A MAJOR LOSS EVENT - A system and method by which an insurance company can project an initial net projected loss arising from a major loss event quickly after the occurrence of the event. The system uses a networked central repository, such as an electronic collaboration site, for collecting and sharing information to be used in the initial net loss projection process. After the occurrence of a major incident, media reports can be reviewed to identify entities involved in, or affected by, the event. In-force insurance policies and applicable reinsurance information of the identified entities are collected and stored in the repository and reviewed to identify those that should be included in the initial net loss projection. Additional information can be entered into a policy database regarding those policies which allows aggregation of net policy limits and an initial projection of the net loss arising from the major loss event. | 09-25-2008 |
20080208637 | Method And System For Assessing Environmental Risk Associated With Parcel Of Real Property - Disclosed is a system and method for assessing environmental risk associated with a parcel of real property through the form of reports which can be generated without the significant expense and time delay of a physical site inspection. Also disclosed is a method to facilitate contaminated land transactions by reports that provide consultancy, legal, and/or financial advice based on factors determined in the absence of a property site visit. In one aspect, the disclosed method comprises several steps based on certain determinations made using commercially-available and publicly-available databases. In another aspect, the disclosed method is a way of providing financial assurance via an insurance policy with the steps of supplying an environmental risk report and automatically supplying an environmental insurance quote based upon the environmental risk report. | 08-28-2008 |