Patent ID: 11861729
Assignee: STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY
Field: IT methods for management (Electrical engineering)
Classification: CPC G  H | IPC G

Claim 15:
16. A computer-implemented method of settling a subrogation claim by a shared ledger, the method comprising, via one or more processors, servers, and/or associated transceivers:
monitoring a blockchain maintained by a plurality of participants in a blockchain network according to a set of consensus rules for an indication of a subrogation claim, the subrogation claim a) identifying a subrogation claimant, b) including evidence regarding an insured loss and a proof-of-identity to cryptographically prove that the evidence of the insured loss is originated by a participating entity, and c) including data relating to fault in the subrogation claim, the data including one or more of:
biometric data collected from a driver of a vehicle, data from vehicles not involved in a crash giving rise at least in part to the subrogation claim, or road sensor data transmitted from an evidence oracle to the shared ledger;
determining a party at fault in the subrogation claim based at least in part on the data relating to fault in the subrogation claim;
broadcasting to the blockchain network an indication of liability of the party determined to be at fault in the determining operation thereby updating the shared ledger, and wherein the update is appended to the shared ledger in response to the plurality of participants in the shared ledger network determining that the update satisfies the set of consensus rules;
and
remitting a payment to the subrogation claimant in settlement of the subrogation claim, wherein the subrogation claim is closed after the payment is remitted.