Abstract:
A computer-based method for automatically providing a loan offer to a customer may include: receiving an indication of a total loss event for the customer&#39;s property, collecting prequalification data for the customer from a data source comprising customer-specific data, collecting credit data associated with the customer&#39;s credit, determining whether to prequalify the customer for a property replacement loan based at least on (a) the collected prequalification data for the customer and (b) the collected credit data associated with the customer&#39;s credit, and in response to a determination to prequalify the customer for a property replacement loan, communicating to the customer an offer for the property replacement loan.

Description:
CROSS-REFERENCE TO RELATED APPLICATIONS 
     This application is a Continuation of U.S. patent application Ser. No. 13/489,597 filed Jun. 6, 2012, the contents of which are incorporated herein by reference in their entirety. 
    
    
     TECHNICAL FIELD 
     The present invention relates generally to systems and methods for providing loan services to a customer and more specifically to automatically prequalifying a consumer for a loan to replace lost property. 
     BACKGROUND 
     Insurance policies allow consumers to protect against the loss of life or property. For example, a person purchases insurance to cover loss of or damage to his or her automobile. In exchange for the payment of insurance premiums to an insurance provider, the provider agrees to compensate the policy holder in the event a loss or damage to the covered property. In some cases, the insurance provider pays to have the property repaired, such as in the case where an automobile is damaged in an accident. In other cases, the insurance provider determines that the accident results in a total loss. In such cases, the property cannot be economically repaired and the insurance provider compensates the insured for this loss. These insurance claims are terms “total loss claims.” 
     In the event of a total loss, an insured individual likely will need to replace the lost property. For example, following an automobile accident that results in the total loss claim, the insured will likely need to purchase a replacement automobile. Typically, the amount of compensation received from an insurance provider in response to the total loss claim is less than the cost to replace the lost property. For example, a five-year-old automobile may be worth $10,000 while a new automobile of the same make and model may cost $25,000. If the five-year-old automobile suffers a total loss event, the insurance provider would typically pay the customer $10,000, less any applicable deductible. If the customer wants to replace the lost property with a new car, he or she would need $15,000 more to pay for the new car. Often, a customer would take out a loan to pay this difference. Insurance providers are positioned to provide loan services to the insured in the event of a total loss claim. In response to servicing the claim, the insurance provider can offer the customer loan products that can be used to replace the lost property. Such a loan is referred to herein as a property replacement loan. Given that a customer may need to replace the property as soon as possible, how quickly a loan offer can be provided to the customer is critical in securing that loan business. One initial step in many loan processes is to pre-approve or prequalify a customer for a certain loan. This prequalification uses limited data on the customer to determine, based on the customer&#39;s credit worthiness, if the customer would likely qualify for a specific loan product. 
     In order to provide loan prequalification and loan offers to a customer in response to a total loss event, an insurance provider may have a relationship with one or more financial institutions. In one case, the financial institution may be part of a larger company that includes both an insurance provider and a financial institution. This case may include the situation were a financial institution owns an insurance provider subsidiary or vice versa. In a second case, the insurance provider may have a business relationship with one or more financial institutions that are independent of the insurance provider, where the business relationship includes the financial institution providing loans to customer&#39;s of the insurance provider that have suffered a total loss event. In a third case, a financial institution may establish a relationship with one or more insurance providers for the purpose of receiving indications of total loss events so as to pursue those loan opportunities. 
     Even if the customer has already secured a loan to replace the property, the insurance provider may still want to offer a property replacement loan to the customer. That is, the offered loan may provide more favorable terms than the property replacement loan secured by the customer, such that the customer would take the new loan offer and pay off the loan previously obtained by the customer. For example, the customer could have secured financing for a new car through an automobile dealership where the customer purchased a replacement vehicle after a total loss event. The customer could still benefit from a loan with better financial terms, such that the customer would refinance the vehicle loan. 
     What is needed is an automated system and method for providing loan services to an insurance customer in the event of a total loss claim, including automating the prequalification process for a property replacement loan. By automating the process, the system and method achieve one of the goals of this solution—to quickly provide a pre-approved loan offer to a customer following a total loss event. 
     SUMMARY OF THE INVENTION 
     The present invention includes systems and methods for automatically providing loan services to an insurance provider customer in the event of a total loss claim. In one aspect of the present invention, a computer-based method for automatically providing a loan offer to a customer is provided. In this method, one or more computers perform the steps of: 1) receiving at the computer an indication of a total loss event for a customer&#39;s property; 2) collecting prequalification data for a customer from a data source comprising customer-specific data; 3) prequalifying the customer for a property replacement loan based on the collected prequalification data and further based on data associated with the customer&#39;s credit; 4) providing a customer an offer for the property replacement loan; and 5) reporting a status of the loan offer. 
     In another aspect of the present invention, a computer-based system for automatically providing a loan offer to a customer is provided. The system includes a total loss claim loan offer module programmed to: 1) receive an indication of a total loss event for a customer&#39;s property from an insurance processing computer; 2) collect prequalification data for a customer from a data source comprising customer-specific data resident on the insurance processing computer; 3) prequalify the customer for a property replacement loan based on the collected prequalification data and further based on data associated with the customer&#39;s credit; 4) provide a customer an offer for the property replacement loan; and 5) report a status of the loan offer to a computer associated with a financial institution. 
     In yet another aspect of the present invention, a computer-based method for automatically providing a loan offer to a customer is provided. In this method, one or more computers perform the steps of: 1) receiving at a computer an indication of a total loss event for a customer&#39;s property; 2) querying, by the computer, a data source comprising customer-specific data to collect prequalification data for a customer; 3) receiving, at the computer in response to the query, the customer-specific data; 4) determining, by the computer, if the customer has elected privacy options that would prevent the use of the customer-specific data to provide the loan offer; 5) determining, by the computer, if the customer-specific data includes at least one piece of data that can be used to perform a credit check; 6) submitting, by the computer, the collected prequalification data to a credit bureau computer; 7) receiving, by the computer from the credit bureau computer, a result of a credit evaluation; 8) determining if the customer prequalifies for a property replacement loan; 9) providing, by the computer, the customer an offer for the property replacement loan; and 10) reporting, by a computer, a status of the loan offer. 
    
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
         FIG. 1  provides a diagram depicting a computer network in accordance with an exemplary embodiment of the present invention. 
         FIG. 2  provides a diagram depicting a software architecture in accordance with an exemplary embodiment of the present invention. 
         FIG. 3  provides a flow diagram depicting the process flow for providing loan services in the event of a total loss claim in accordance with an exemplary embodiment of the present invention. 
         FIG. 4  provides a flow diagram depicting the process flow for collecting prequalification data for a customer in accordance with an exemplary embodiment of the present invention. 
         FIG. 5  provides a flow diagram depicting the process flow for prequalifying a customer for a property replacement loan in accordance with an exemplary embodiment of the present invention. 
         FIG. 6  provides a flow diagram depicting the process flow for offering a customer a property replacement loan in accordance with an exemplary embodiment of the present invention. 
     
    
    
     DETAILED DESCRIPTION OF EXEMPLARY EMBODIMENTS 
     The exemplary embodiments of the present invention provide systems and methods for providing an insurance customer automated loan services in the event of a total loss claim. More specifically, the present invention provide systems and methods for automatically delivering property replacement loan leads to an insurance provider representative or property replacement loan offers to an insurance provider customer. The description below provides exemplary embodiments of the present invention. Most of the descriptions use an automobile as an example of a consumer&#39;s property subjected to a total loss event. The present invention is not limited to automobile total loss events but is applicable to other insured property, such as motorcycles, boats, recreational vehicles, homes, or other similar insured property. 
       FIG. 1  depicts a computer network  100  in accordance with an exemplary embodiment of the present invention. Referring to  FIG. 1 , a loan offer computer  105  is connected to additional computing devices over a local area network (LAN), virtual private network (VPN), or wide area network (WAN), such as the Internet  125 . The loan offer computer  105  automates a process for providing a property replacement loan offer to a customer in the event of a total loss of the customer&#39;s property. In this exemplary embodiment, the loan offer computer  105  is part of a financial institution&#39;s computer network  160 , where the financial institution provides the property replacement loan. In this embodiment, the financial institution may have a corporate relationship with the insurance provider that provided insurance coverage for the loss property and, in that case, the financial institution&#39;s computer network  160  is connected to an insurance provider&#39;s computer network  165 . In an alternative embodiment, the financial institution and insurance provider are not related companies. In this alternative embodiment, the financial institution&#39;s computer network  160  is connected to an insurance provider&#39;s computer network  165  over an external connection, such as the Internet  125 . 
     The loan offer computer  105  is connected to an insurance processing computer  120 , which performs computer-based operations for the insurance provider. The loan offer computer  105  is capable of receiving an indication from the insurance processing computer  120  when a total loss event has occurred. The insurance processing computer  120  is connected to a claims computer  110 , which is part of a property claims system. For example, the claims computer  110  may be operated by a claims adjuster for an insurance provider or a vendor of an insurance provider, such as an auto body shop, who provides an estimate of the damages to a customer&#39;s property, such as an automobile. The claims computer  110  sends information on the customer&#39;s property over the Internet  125  to the insurance processing computer  120 . This information may include an assessment of whether the damage to the property constitutes a total loss. Alternatively, the claims computer  110  sends may be connected to the insurance processing computer  120  over a LAN or VPN. Similarly, an insurance adjuster may use a mobile computing device, such as a tablet  115 , smartphone (not shown), laptop computer (not shown), or other mobile computing device. These devices, such as the tablet  115 , may connect, through a wireless network or cellular-based telephony network, to the insurance processing computer  120  through the Internet  125 . Through this connection, an adjuster sends information to the insurance processing computer  120  on the condition of a customer&#39;s property. 
     The insurance processing computer  120  includes computer-based processes in addition to insurance claims processing, such as a client register, which includes data on customers of the insurance provider; an associate register, which includes information on insurance provider agents; an activity management process, which allows agents to manage specific opportunities to provide services to customers; and a marketing direct mail module, which sends information to customers or potential customers in the form of mail by way of the postal service or electronic mail over the Internet  125 . The insurance processing computer  120  may be one or more computers connected over a network, such as a LAN, WAN, or VPN. These one or more computers may operate on similar or disparate software platforms. The insurance processing computer  120  is connected to multiple work stations  155 . This configuration allows insurance provider representatives, such as customer service representatives and insurance agents, to access the processes on the insurance processing computer  120 . The insurance processing computer  120  is connected to the work stations  155  over a network, such as a LAN (e.g., insurance provider&#39;s computer network  165 ), WAN (such as the Internet  125 ), or VPN. 
     The loan offer computer  105  is also connected to a credit bureau computer  130 , which performs consumer credit-related services. For example, the computer  130  may be operated by a credit bureau, such as TRANSUNION®, EXPERIAN®, or EQUIFAX®. A credit bureau collects and aggregates information related to a consumer&#39;s credit activity, such as payment history, debts, and court records. Typically, these credit bureaus calculate a credit score for a consumer based on the collected and aggregated data. The credit score, derived from an algorithm employed by the credit bureau, reflects the relative credit-worthiness of the consumer. Companies, such as financial institutions, can, for a fee, access a consumer&#39;s credit score and other credit data from the credit bureau. 
     The loan offer computer  105  is also connected to a bank loan center computer  135 , which is associated with the financial institution that ultimately will provide loan services to the insurance provider&#39;s customer that suffered a total loss event. The computer  105  may be connected to the bank loan center computer  135  over a WAN, such as the Internet  125 , a LAN, or a VPN. Typically, the loan offer computer  105  would be connected to the bank loan center computer  135  over a LAN or a VPN when the insurance provider and financial institution are part of the same company. 
     The loan offer computer  105  is also connected to a loan application processing computer  140 , which maintains an Automated Credit Application Processing System (ACAPS). The ACAPS receives and stores information for prequalified customers to facilitate the final loan application process. The ACAPS may be managed by an independent entity, that is, an entity independent of the financial institution and insurance provider. Alternatively, the ACAPS may be part of the financial institution and may reside on computer  135  or be part of the financial institution&#39;s computer network  160 . 
     The loan offer computer  105  is also connected to a computer  145 , which is operated by a consumer, such as a customer of the insurance provider. The customer can access certain functionality of the loan offer computer  105  over a network, such as the Internet  125 . Typically, access would be through a portal on the World Wide Web and the personal computer  145  would include a browser software program for accessing the loan offer computer  105 . Alternatively, the personal computer  145  may have a client software program used to access the loan offer computer  105 . Further, a customer can use the personal computer  145  to report a claim to the insurance processing computer  120  in the event of an accident, where such a claim may ultimately be classified as a total loss event. Alternatively, the customer can access the loan offer computer  105  or insurance processing computer  120  using a mobile device (not shown) or by contacting his or her agent or a call center for the insurance provider. 
     The loan offer computer  105  is also connected to a bank pre-approval and prequalification database server  150 , which contains information about the customer&#39;s property replacement loan process. For example, this database  150  includes personal identifying information for the customer, information from the credit bureau, information about the customer&#39;s insurance agent, and the status of the replacement loan offer. Typically, the database records for a customer would be associated with a unique customer ID. 
     The loan offer computer  105  is also connected to an agent computer  170 . The agent computer  170  is operated by an agent of the insurance provider, who may be an independent contractor of the insurance provider. In this exemplary embodiment, the agent computer  170  is connected to the loan offer computer  105  over the Internet  125 . The agent computer  170  may interact with the loan offer computer  105  through the insurance processing computer  120 . 
       FIG. 2  provides a diagram depicting a software architecture  200  in accordance with an exemplary embodiment of the present invention. Referring to  FIGS. 1 and 2 , a total loss claim loan offer module  205  interacts with other software modules to prequalify a customer for a loan that can be used to replace property lost in a total loss event, such as an automobile totaled in an accident. The total loss claim loan offer module  205  receives an indication from an enterprise claims system  210  or a claims service record  215  that a total loss event has occurred. This indication of a total loss event triggers the property replacement loan prequalification process. 
     The total loss claim loan offer module  205  exchanges information with a client register  220 . The client register  220  includes specific information associated with a customer of the insurance provider. Typically, customer data would be maintained and associated with a unique customer identifier (ID). Data may include specifics about insured property, personal identifying information (name, address, phone number, email address, social security number, and the like), and privacy preferences. For example, the data may indicate whether a customer has indicated a preference not to share his or her data with other entities or has indicated a preference not to be solicited with offers of other products or services. The client register  220  resides on the insurance processing computer  120 . 
     The total loss claim loan offer module  205  also exchanges information with a credit bureau module  225 . The credit bureau module  225  is maintained and operated by a third-party commercial credit bureau and resides on the credit bureau computer  130 . Typically, the credit bureau module  225  would include the capability to interact with computer-based systems of entities that use the credit bureau&#39;s services, such as an insurance provider or financial institution. 
     The total loss claim loan offer module  205  also exchanges information with an associate register  230 . The associate register  230 , which resides on the insurance processing computer  120 , includes information about agents for the insurance provider. Insurance agents may represent a single insurance provider or multiple insurance providers. The associate register  200  includes information on these agents such as contact information and customers. 
     The total loss claim loan offer module  205  also provides information to an automated credit application processing system (ACAPS)  235 . The automated credit application processing system  235 , which may reside on the loan application processing computer  140 , receives files for each customer that is prequalified for a property replacement loan. The ACAPS stores this provided information to facilitate the final loan application process should the customer elect to pursue the offered property replacement loan. Information may be provided to the ACAPS through an integrated loan application (ILA) system, which may be interfaced by agents of the insurance provider or financial institution to provide certain customer information. 
     The total loss claim loan offer module  205  interacts with a bank pre-approval and prequalification database  240 . The bank pre-approval and prequalification database  240 , which resides on the bank pre-approval and prequalification database server  150 , includes information about each property replacement loan offer, including data on customer, the customer&#39;s agent, and the status of the loan offer. 
     The total loss claim loan offer module  205  interacts with an activity management module  245 . The activity management module  245 , which resides on the insurance processing computer  120 , allows agents of the insurance provider whose customer suffered the total loss event to manage their interactions with customers. The activity management module  245  informs the agent of possible leads for a certain customer and triggers actions related to a specific customer, for example, informing the agent of the imminent expiration of a customer&#39;s insurance policy. The activity management module  245  also notifies the agent that a customer is prequalified for a property replacement loan in the event of a total loss event. In an alternative embodiment, such as where the insurance provider is a subsidiary of the financial institution providing the loan offer or has been contracted by the financial institution to provide an indication of a total loss event, the activity management module  245  may be used by a representative of the financial institution. 
     The total loss claim loan offer module  205  interacts with a bank offer page  250 . The bank offer page  250 , which resides on the loan offer computer  105 , allows an agent to manage a specific customer&#39;s loan offer. The bank offer page  250  can be accessed from a hypertext transfer protocol (HTTP) link provided by the activity management module  245 . The bank offer page  250  allows the agent to extract specific information about a loan offer and update loan offer information. These updates are provided to the total loss claim loan offer module  205 , which then updates the bank pre-approval and prequalification database  240  with the new information. In an alternative embodiment, a customer may view and interact with the bank offer page  250  by accessing the bank offer page  250  with the customer&#39;s computer  145  over the Internet  125 . 
     The total loss claim loan offer module  205  interacts with a marketing direct mail module  255 . The marketing direct mail module  255 , which resides on the insurance processing computer  120 , facilitates the mass mailing of information to insurance provider customers. These mailings may be either mail delivered by the postal service or electronic mail (or both). For property replacement loan offers, the marketing direct mail module  255  receives data related to a prequalified customer and generates a prequalification letter be sent to a customer. The marketing direct mail module  255  may send letters in a batch-wise fashion at specific periods of time, such as weekly or daily. 
     The total loss claim loan offer module  205  interacts with an enterprise reporting/document management module  260 . The enterprise reporting/document management module  260  receives periodic reports from the total loss claim loan offer module  205  regarding total loss events. The enterprise reporting/document management module  260  provides the total loss claim loan offer module  205  with reports regarding loan offer activity, including business partner activities. Example reports may include customer contacts and loan offers made, perhaps broken up into geographical regions, such as prequalified loan offers by state. 
     The total loss claim loan offer module  205  sends information to a bank loan center module  265 . The bank loan center module  265 , which resides on the bank loan center computer  135 , ultimately processes loans. Periodically, such as on a daily or weekly basis, the total loss claim loan offer module  205  sends reports to the bank loan center module  265  identifying all prequalified customers. 
       FIG. 3  provides a flow diagram  300  depicting the process flow for providing loan services in the event of a total loss claim in accordance with an exemplary embodiment of the present invention. Referring to  FIGS. 2 and 3 , the total loss claim loan offer module  205  receives an indication of a total loss claim or event, such as from the enterprise claims system  210  or claims service record  215 . A claims representative for the insurance provider or other vendor that supplies services to the insurance provider, such as an auto repair facility, evaluates a customer&#39;s property involved in an accident. This evaluation includes an estimate of the amount of damage that the property sustained (for example, the cost to repair the damage). Based on this evaluation, the representative or a process running on the insurance processing computer  120  determines that the accident is a total loss event. Typically, this determination will be based on the estimate of the damage sustained compared to the value of the property. For example, if the cost to repair an automobile after an accident is greater than the value of the automobile, the event will be deemed a total loss event—the car is said to have been “totaled.” The results of the evaluation are recorded in the insurance processing computer  120  and this result is available to the total loss claim loan offer module  205  during the process  300 . In one embodiment, the insurance processing computer  120 , through the enterprise claims system  210 , pushes a notification to the total loss claim loan offer module  205 , which includes a process to “listen” for such a notification. In an alternative embodiment, the total loss claim loan offer module  205  polls the insurance processing computer  120  for any total loss events. In some cases, the total loss event indication may be an indication that the occurrence is likely a total loss event, such that, a subsequent evaluation could determine that the event did not result in a total loss. 
     Upon receiving an indication of a total loss event, the total loss claim loan offer module  205  collects prequalification data for the customer that lost property in the total loss event at step  320 . This step is described in greater detail below, in connection with  FIG. 4 . 
     At step  330 , the total loss claim loan offer module  205  prequalifies the customer for a property replacement loan. This step is described in greater detail below, in connection with  FIG. 5 . If the customer is prequalified for a property replacement loan, the customer is offered the loan at step  240 . This step is described in greater detail below, in connection with  FIG. 6 . At step  350 , the total loss claim loan offer module  205  reports and/or updates the status of the property replacement loan. 
       FIG. 4  provides a flow diagram  320  depicting the process flow for collecting prequalification data for a customer in accordance with an exemplary embodiment of the present invention. Referring to  FIGS. 2 ,  3 , and  4 , at step  410 , the total loss claim loan offer module  205  queries the client register  220  for customer information. The indication of a total loss claim received by the total loss claim loan offer module  205  at step  310  includes a unique customer ID associated with the claim. While an insurance claim record associated with the total loss event may have personal identifying information about the customer, such as a social security number, in this exemplary embodiment, only the unique customer ID is transferred from the claim record to the total loss claim loan offer module  205  as part of the indication of a total loss event received at step  310 . The query at step  410  uses that customer ID to extract specific information about the customer to be used in the prequalification process. Such information may include personal identifying information for the customer, such as a social security number and driver&#39;s license number, the nature of the covered property, any privacy preferences for the customer, and whether the customer is deceased. For some total loss events, such as a serious automobile accident, the property owner could be killed in the accident. The client register  220  would include such information. 
     At step  420 , the total loss claim loan offer module  205  determines if the customer&#39;s privacy preferences include an indication not to share the customer&#39;s personal information. The insurance provider&#39;s privacy policy may allow a customer to indicate that he or she does not want any personal information shared with the insurance provider&#39;s business partners. If the result of the determination at step  420  is “YES,” the process  320  moves to step  499  and ends. In this event, the prequalification process is terminated. 
     If the result of the determination at step  420  is “NO,” the process  320  moves to step  430 , where the total loss claim loan offer module  205  determines if the customer&#39;s privacy preferences include an indication not to be solicited for other products or services provided by the insurance provider. The insurance provider&#39;s privacy policy may allow a customer to indicate that he or she does not want solicitations for other products or services administered by the insurance provider. If the result of the determination at step  430  is “YES,” the process  320  moves to step  499  and ends. In this event, the prequalification process is terminated. 
     If the result of the determination at step  430  is “NO,” the process  320  moves to step  440 , where the total loss claim loan offer module  205  determines if the customer is deceased. Since some total loss events, such as serious automobile accidents, could result in the death of the customer, the insurance provider wants to ensure that it does not provide any solicitation under such circumstances. If the result of the determination at step  440  is “YES,” the process  320  moves to step  499  and ends. In this event, the prequalification process is terminated. 
     If the result of the determination at step  440  is “NO,” the process  320  moves to step  450 , where the total loss claim loan offer module  205  determines if the client register  220  includes the customer&#39;s social security number or driver&#39;s license number. A customer&#39;s social security number or driver&#39;s license number is often supplied to a credit bureau to perform a credit check, which is a determination of the credit worthiness of an individual. Regardless, of the result of this inquiry, the process  320  moves to step  460 , where the total loss claim loan offer module  205  stores retrieved information and moves to step  330 . In the event that the client register  220  did not have the customer&#39;s social security number or other specific identification number, such as a driver&#39;s license number, the total loss claim loan offer module  205  can continue with the prequalification process. However, the quality of the prequalification results may be impacted if the total loss claim loan offer module  205  cannot associate the results of subsequent processing steps with the specific customer. 
       FIG. 5  provides a flow diagram depicting the process flow  330  for prequalifying a customer for a replacement loan in accordance with an exemplary embodiment of the present invention. Referring to  FIGS. 2 ,  3 ,  4 , and  5 , at step  510 , the total loss claim loan offer module  205  submits customer information stored at step  460  to the credit bureau module  225 . The credit bureau module  225  uses the submitted information to provide a prequalification result. In one embodiment, this result is a credit score that is returned to the total loss claim loan offer module  205  at step  520 . In an alternate embodiment, this result is a determination as to whether the customer is prequalified for the loan. In this latter embodiment, the information supplied to the credit bureau at step  510  would include loan terms, such as loan amount, interest rate, and duration. 
     In one embodiment, the replacement property loan amount for which the customer is prequalified may be a set amount. For example, in the case of a total loss event involving an automobile, each prequalification would be for a property replacement loan of a set amount, such as $25,000. The set amount could be based on the average price of a new automobile. In an alternative embodiment, the loan amount may be based on the lost property. For example, in the case of a total loss event involving an automobile, the prequalification would be for the amount of money to purchase a new automobile of the same (or comparable) make and model as the automobile involved in the total loss event (perhaps less the amount that the customer will receive for the value of the totaled car). In another alternative embodiment, the prequalification step could set a maximum value for which the customer is prequalified. For certain total loss events, a variety of loan terms may be used to develop multiple prequalifications. For example, in the case where a home is the property lost in the total loss event, the property replacement loan terms may include loans for different durations (15 years and 30 years, for example) and different interest rate scenarios (fixed rate or adjustable rate, for example). 
     At step  530 , the total loss claim loan offer module  205  determines if the customer was found by the credit bureau module  225 . If the result of the determination at step  530  is “NO,” the process  330  moves to step  599  and ends. In this event, the prequalification process is terminated. In an alternative embodiment, the process  330  returns to step  510  and the total loss claim loan offer module  205  submits the customer information to a different credit bureau. 
     If the result of the determination at step  530  is “YES,” the process  330  moves to step  540 , where the total loss claim loan offer module  205  determines if the credit bureau module  225  encountered an error in processing the prequalification request. If the result of the determination at step  540  is “YES,” the process  330  moves to step  599  and ends. In this event, the prequalification process is terminated. In an alternative embodiment, the process  330  returns to step  510  and the total loss claim loan offer module  205  submits the customer information to a different credit bureau. 
     If the result of the determination at step  540  is “NO,” the process  330  moves to step  550 , where the total loss claim loan offer module  205  determines if the customer prequalifies for the property replacement loan. This determination may be based on a determination made by the credit bureau module  225  or based on an analysis by the total loss claim loan offer module  205 , which would use information returned at step  520 , such as a credit score, and other information, such as loan terms, to determine if the customer prequalifies for the property replacement loan. Loan terms and the customer&#39;s information and credit score (and/or other credit data) may be used in an algorithm that is part of the claim loan offer module  205  to determine if the customer qualifies for the specific loan. Alternatively, the algorithm may determine, based on the customer&#39;s data and credit score (and/or other credit data), the loan terms for which the customer qualifies. 
     If the result of the determination at step  550  is “NO,” the process  330  moves to step  599  and ends. In this event, the prequalification process is terminated. In an alternative embodiment, the process  330  returns to step  510  and the total loss claim loan offer module  205  submits the customer information to a different credit bureau. 
     The above-described process employs a single credit bureau or, in an alternative embodiment, multiple credit bureaus accessed in series. In yet another alternative embodiment, at step  510 , the total loss claim loan offer module  205  could send the customer information to multiple credit bureaus in parallel. In this alternative embodiment, the ultimate determination at step  550  would be based on results returned at step  520  from all of the credit bureaus. 
     If the result of the determination at step  550  is “YES,” the process  330  moves to step  560 , where the total loss claim loan offer module  205  sends the prequalification results to the bank pre-approval and prequalification database  240 . The prequalification results would be associated with a unique customer ID for the customer that suffered the total loss event. 
     At step  570 , the total loss claim loan offer module  205  periodically sends the prequalification data to the automated credit application processing system (ACAPS)  235 . For example, on a daily or weekly basis, the total loss claim loan offer module  205  would send the prequalification data to ACAPS  235  for all prequalified customers since the previous communication with the ACAPS  235 . The data is used to automatically populate a loan application for the customer. 
       FIG. 6  provides a flow diagram depicting the process flow  340  for offering a customer a replacement loan in accordance with an exemplary embodiment of the present invention. Referring to  FIGS. 2 ,  3 ,  5 , and  6 , at step  610 , the total loss claim loan offer module  205  extracts customer loan data from the bank pre-approval and prequalification database  240 . The prequalification results would be associated with a unique customer ID for the customer that suffered the total loss event. 
     At step  620 , the total loss claim loan offer module  205  sends an indication that the customer was prequalified for a property replacement loan to the activity management module  245 . Typically, the claims processing aspect of the insurance provider, that is, the group processing the claim associated with the total loss event, would not be informed of the results of the prequalification. At step  630 , an agent or other provider representative assigned to the customer receives a work activity from the activity management module  245  associated with the prequalification. Typically, an agent would routinely log into the activity management module  245 . The activity management module  245  would push activities to the agent&#39;s user interface, such as a personal computer screen or tablet computer. The agent would then perform the activity. The activity management module  245  serves as a way for an insurance provider to manage the work flow of certain tasks. 
     At step  640 , the agent launches an offer page associated with the property replacement loan for the prequalified customer. For example, the activity management module  245 , which may be accessed with a browser program, may provide an HTTP link that the agent can actuate to open a web page with a browser. With this page, the agent can view and provide input related to the property replacement loan offer. 
     At step  650 , the agent provides the offer to the customer and updates the bank pre-approval and prequalification database  240 . This step may be accomplished by initiating an email to the customer. The email may have a link to allow the customer access to the loan offer page (or similar page). Alternatively, the agent could call the customer. In another alternative, the agent can refer the offer to a call center, where a customer service representative places the call that provides the offer to the customer. In yet another alternative, the total loss claim loan offer module  205  could automatically send the offer to the customer without the agent taking any action. 
     In some cases, the customer may have already secured a loan. In those cases, the offered loan would be treated as a refinancing loan. The agent (or total loss claim loan offer module  205 , though direct input from the customer accessing a loan offer page using the personal computer  145 ) would receive information on the terms of the loan already secured by the customer. In some cases, if the loan already secured by the customer has terms more favorable to the customer than the loan offered at step  650 , the process  300  may return to step  330  to determine if the customer could be prequalified for a loan with more favorable terms than those already secured by the customer. 
     At step  660 , which occurs in parallel to the agent&#39;s activities, the total loss claim loan offer module  205  sends customer loan data to the marketing direct mail module  255 . At step  670 , the marketing direct mail module  255  creates a prequalification letter from the supplied customer loan data. The prequalification letter would inform the customer of the opportunity to receive a property replacement loan and the terms of the loan. Typically, when a credit inquiry is made resulting in a loan offer, that offer must be supplied to the intended recipient in writing. At step  680 , the marketing direct mail module  255  causes the prequalification letter to be sent to the customer. The process  340  moves to step  350 . The inclusion of this parallel flow of activities ensures that the customer receives a written offer providing the property replacement loan opportunity. 
     For the purposes of this disclosure, the term exemplary means example only. Although the disclosed embodiments are described in detail in the present disclosure, it should be understood that various changes, substitutions and alterations can be made to the embodiments without departing from their spirit and scope.