System, method, and computer program product for processing workers' compensation claims

Number of patents in Portfolio can not be more than 2000

United States of America Patent

PATENT NO 11410132
APP PUB NO 20170039526A1
SERIAL NO

14816210

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ATTORNEY / AGENT: (SPONSORED)

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Abstract

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Systems and methods for administering a workers' compensation (WC) claim include a non-transitory, tangible computer-readable storage medium including a WC claim processing program bearing instructions for performing a settlement strategy for WC claims. A processor is configured to execute the WC claim processing program. The WC claim processing program includes a Cost of Waiting (COW) calculating module configured to calculate a COW for a predetermined period of time after an Arrival of a Settlement Opportunity (ASO) of each of the population of seasoned WC claims using the seasoned WC claim financial data and a machine learning module configured to conduct a regression analysis of the population of seasoned WC claims to determine a WC claim characteristic comprising an adversely-developing predictor that the COW of an open WC claim will more likely develop adversely when the corresponding WC claim characteristic data of the open WC claim matches the adversely-developing predictor.

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Patent Owner(s)

Patent OwnerAddress
AMERICAN INTERNATIONAL GROUP INC1271 AVENUE OF THE AMERICAS 11TH FLOOR NEW YORK NY 10020-1304

International Classification(s)

Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Laws, Christopher Delray Beach, US 1 0
Schmid, Frank Hoboken, US 36 105

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