Patent ID: 8655683
Filing Date: 2014-02-18
Classification: G06Q

Abstract:
1. A computer-implemented method comprising: receiving a loss claim at a client device, the loss claim corresponding to inventory data comprising a list of a plurality of items lost in an event resulting in the loss claim; receiving liability limits data for the loss claim from a claim processing server; receiving inventory data for the list of the plurality of items; receiving price data for the list of the plurality of items from the claim processing server, wherein the price data is adjusted by a taxable status adjustment factor that is determined based on at least one of an actual cash value (ACV) and full replacement cost (FRC) of each of the plurality of items; storing the liability limits data, the inventory data, and the adjusted price data in a memory of the client device; using a claims processor associated with the client device, mapping each item of the list of the plurality of items to the adjusted price data to determine an estimated cost of replacement for each item, wherein the mapping comprises selecting a lowest price for a first item when the first item of the plurality of items maps to a plurality of prices of the adjusted price data in the memory of the client device; calculating, using the claims processor, an estimate of a cost of settling the loss claim based on a sum of the estimated costs of replacement of each item; using the claims processor, capping the estimate by applying the liability limits data; using a display device associated with the client device, outputting the estimate to a web page; and using the claims processor, settling the loss claim by taking into account a difference between an actual cash valuation (ACV) and a full replacement cost (FRC) of the plurality of items.