Patent ID: 11900474
Assignee: WELLS FARGO BANK, N.A.
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 0:
1. A method comprising:
storing, by a server, an insurance policy for a virtual wallet stored on a computing device with an insured amount based on a value of the virtual wallet, the value of the virtual wallet being equal to an assigned value of at least one virtual financial asset included in the virtual wallet, wherein storing the insurance policy comprises recording the insured amount of the insurance policy as an initial entry in a ledger;
updating, by the server, the insured amount of the insurance policy for the virtual wallet based on an updated value of the virtual wallet, the updated value of the virtual wallet being based on changes to the assigned value of the at least one virtual financial asset included in the virtual wallet, wherein updating the insured amount comprises recording the updated insured amount of the insurance policy as a new entry in the ledger;
in response to the virtual wallet being compromised, determining, by the server, a most recent insured amount of the insurance policy for the virtual wallet as recorded in a most recent entry in the ledger; and
processing, by the server, a claim against the insurance policy for payment of the most recent insured amount of the insurance policy for the virtual wallet.