Patents Assigned to American International Group, Inc.
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Patent number: 8275636Abstract: The instant invention relates to a system and method for ensuring and verifying the identity of all parties involved in an online marketplace transaction involving buyers, sellers, and third parties, such as a marketplace. Anonymous transactions are supported by the present invention. Verification is provided and insurance may be purchased in accordance with the instant invention guaranteeing that the parties are who they represent themselves to be and are capable of entering into the transaction, thereby facilitating completion of the online transaction.Type: GrantFiled: October 26, 2001Date of Patent: September 25, 2012Assignee: American International Group, Inc.Inventors: Ray Berg, M. Greg Shanton
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Patent number: 8260638Abstract: A method for underwriting an insurance product includes identifying a plurality of event categories of operational risk loss and drafting information requests for operational risk management components thereof. A database of the insurance company for stores and analyzes information provided by the client to yield an operational risk exposure assessment of the client.Type: GrantFiled: May 15, 2009Date of Patent: September 4, 2012Assignee: American International Group, Inc.Inventors: Jacqueline McNamee, Guy Williams, Ralph Mucerino
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Publication number: 20120143634Abstract: Systems, methods, and computer program products for processing a claimant's insurance claim provide the architectural components to facilitate a common philosophy and infrastructure for processing claims in a consistent manner. A highly cohesive infrastructure can be provided that allows for legacy systems to participate in a service-oriented manner.Type: ApplicationFiled: December 2, 2011Publication date: June 7, 2012Applicant: American International Group, Inc.Inventors: Peter Beyda, Archana Seth, Ira Apsel, Michael Gitter
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Publication number: 20120066008Abstract: A method and system for processing communications between travel service providers and travel insurers where travel service providers use different messaging formats. A travel service provider transmits itinerary data to a travel insurer in one messaging format. The travel insurer may then convert the itinerary data into a format compatible with the travel insurer's system and determine an optimal policy choice based on the itinerary data. The travel insurer may then transmit this choice to the travel service provider in the travel service provider's preferred messaging format, and the travel service provider offers the product to the consumer through the travel service provider's interface.Type: ApplicationFiled: September 13, 2011Publication date: March 15, 2012Applicant: American International Group, Inc.Inventors: Ellison Scudder, John Selle, Robert Azuma, Jeff Schafer
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Publication number: 20120041863Abstract: Systems, methods, and computer program products include a golden copy application for compiling golden copies of securities pricing according to a set of securities rules established by a subscriber that can be used in a computing environment and embodied in computer readable media. Disclosed embodiments of a golden copy application can compile each subscriber's golden copy in accordance with specific rules defined by the subscriber relative to which information source should be used for different asset classes. Each subscriber can identify more than one information source for each asset class, and rank those sources in order of desirability.Type: ApplicationFiled: August 10, 2011Publication date: February 16, 2012Applicant: American International Group, Inc.Inventors: Ranganath Malur, Hiren Sheth, Rajan Dawar
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Publication number: 20120010908Abstract: An Average Weekly Wage calculator application is provided to implement rules-based technology to assist with the adjudication of Workers' Compensation (WC) claims. The AWW calculator application can be included as part of various embodiments of a method for processing a workers' compensation claim, a system for processing a workers' compensation claim, and a non-transitory, tangible computer-readable storage medium bearing instructions for processing a workers' compensation claim. The AWW calculator can be tailored to include jurisdictionally-specific logic to define the required Payment Periods and calculate the Average Weekly Wage in a particular jurisdiction.Type: ApplicationFiled: March 18, 2011Publication date: January 12, 2012Applicant: American International Group, Inc.Inventors: Jonathan Doelling, Matthew Francis, Timothy Jacobi
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Publication number: 20120010907Abstract: An Average Weekly Wage calculator application is provided to implement rules-based technology to assist with the adjudication of Workers' Compensation (WC) claims. The AWW calculator application can be included as part of various embodiments of a method for processing a workers' compensation claim, a system for processing a workers' compensation claim, and a non-transitory, tangible computer-readable storage medium bearing instructions for processing a workers' compensation claim. The AWW calculator can be tailored to include jurisdictionally-specific logic to define the required Payment Periods and calculate the Average Weekly Wage in a particular jurisdiction.Type: ApplicationFiled: March 18, 2011Publication date: January 12, 2012Applicant: American International Group, Inc.Inventors: Jonathan Doelling, Matthew Francis, Timothy Jacobi
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Patent number: 8078511Abstract: In the present invention, a hedging engine processor and method monitors business transactions to provide foreign currency exchange hedging instructions and to provide foreign currency price information for goods of commerce. The hedging engine receives business transaction information that relate to purchases or sales of goods by a customer, receives hedging rules, that define rules to exchange a first type of currency to a second type of currency, and receives pricing rules, that define rules to update public foreign currency prices of the goods. The engine also generates public price information to provide foreign currency prices of the goods, based on the pricing rules, and generates hedging instruction information to provide instructions on whether to exchange from the first type of currency to the second type of currency, based on the hedging rules.Type: GrantFiled: May 31, 2001Date of Patent: December 13, 2011Assignee: American International Group, Inc.Inventors: Robert J. Feilbogen, Paul Varnish
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Patent number: 8078537Abstract: Aspects of the disclosure describe systems and methods for providing a combined insurance and assistance product to an insured. Insurance coverage can be provided to the insured for at least one insured loss event in conjunction with assistance services coverage based upon the at least one insured loss event. A base premium for the combined insurance and assistance product can be calculated based at least in part on a premium for the insurance coverage and a premium for the assistance services coverage. Assistance services can include preventive services directed to helping avoid the occurrence of at least one insured loss event and/or rehabilitative services directed to providing assistance after an occurrence of at least one insured loss event.Type: GrantFiled: June 26, 2008Date of Patent: December 13, 2011Assignee: American International Group, Inc.Inventor: Dominique Roudaut
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Publication number: 20110153510Abstract: A system and method for automated processing requests for reviewing and approving business development materials, such as marketing flipbooks and request for proposals, etc., for compliance and performance approval employs an application server that presents a web-based request form. A requestor uses the request form to enter information regarding the approval request and to select reviewer. The application server then generates a request document and sends it with the business development materials to the selected reviewer(s). The request form and marketing presentation materials are archived in a database to allow real-time monitoring and future auditing.Type: ApplicationFiled: November 23, 2010Publication date: June 23, 2011Applicant: American International Group, Inc.Inventors: Leon Ramcharran, Richard Biegen, Erik Mogavero, Cheryll Moore, Steve Weinreb, Sal Nargi
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Publication number: 20110055061Abstract: A method and system for retaining customers with interrupted payment streams includes identifying an at-risk-for-lapse customer based on at least one failed billing attempt. The at-risk-for-lapse customer by use of at least one communication channel. A billing information database is updated with updated billing information provided by the at-risk-for-lapse customer as a result of the communication, and a transaction record, which is indicative of the failed billing attempt, is recorded in a transaction history for future reference. This method is enabled by use of a specialized software application capable of retrieving, analyzing, and storing customer information from a central database. The software application is capable of identifying the at-risk-for-lapse customer based on certain factors, as well as selecting an appropriate customer contact strategy.Type: ApplicationFiled: August 25, 2009Publication date: March 3, 2011Applicant: American International Group, Inc.Inventor: Jonathan Yee
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Publication number: 20110035239Abstract: Processes, systems, and computer-readable storage media value and administer a variable annuity having a guaranteed minimum withdrawal benefit (GMWB) feature such that an investor can receive a guaranteed rising stream of income. The GMWB feature can be adapted to help create a guaranteed income stream that will last as long as the Covered Person(s) live(s) even if the entire value of the contract has been reduced to zero provided that withdrawals taken are within the parameters of the feature. The GMWB feature can “lock-in” an increased Income Base at the end of a predetermined period that is equal to the greater of (1) actual investment gains on the contract period or (2) an income credit based upon an Income Credit Base, adjusted by withdrawals taken in the prior period. The contract owner may withdraw an amount less than or equal to a Maximum Periodic Withdrawal Amount in each Benefit Period without reducing the Income Base or the Income Credit Base.Type: ApplicationFiled: January 29, 2010Publication date: February 10, 2011Applicant: AMERICAN INTERNATIONAL GROUP, INC.Inventors: Robert Scheinerman, Tina Haley, Rodney Haviland
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Publication number: 20110016377Abstract: A system and method for incident reporting uses an application server on a network to facilitate the creation of incident reports and distribution of the reports for review, and controls access to the incident reports to protect the integrity and confidentiality of the reports. Each incident report is given a routing profile, which is tailored such that only proper authorized persons can review and/or edit the report. The progress of incident report review and incident investigation is tracked, and the tracking data are stored for monitoring and auditing purposes. Access to selected reports may be given to users on a temporary basis. The incident reports are archived to enable auditing and generation of reports.Type: ApplicationFiled: April 14, 2010Publication date: January 20, 2011Applicant: American International Group, Inc.Inventors: Mark Caldwell, Steve Brack, Rosemary Beauvais, Bohdan Horyn, Robert Francis Roche, III, Thomas G. Kelly, J. Steven Senneff, Ronald E. Mahaffey
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Publication number: 20100325064Abstract: Systems, methods, and computer program products for determining a guaranteed benefit of an investment product include a means for changing an allowable withdrawal amount of the benefit associated with the guarantee based on a market-based interest rate that can be correlated to the hedging cost of the provider in funding the guarantee.Type: ApplicationFiled: June 17, 2010Publication date: December 23, 2010Applicant: American International Group, Inc.Inventor: Stephen J. Stone
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Patent number: 7853885Abstract: A system and method for automated processing requests for reviewing and approving business development materials, such as marketing flipbooks and request for proposals, etc., for compliance and performance approval employs an application server that presents a web-based request form. A requestor uses the request form to enter information regarding the approval request and to select reviewer. The application server then generates a request document and sends it with the business development materials to the selected reviewer(s). The request form and marketing presentation materials are archived in a database to allow real-time monitoring and future auditing.Type: GrantFiled: February 17, 2006Date of Patent: December 14, 2010Assignee: American International Group, Inc.Inventors: Leon Ramcharran, Richard Biegen, Erik Mogavero, Cheryll Moore, Steve Weinreb, Sal Nargi
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Publication number: 20100250409Abstract: Embodiments of computer-implemented methods and systems for posting non-machine journal entries to a general ledger can help the user validate non-machine journal entries posted to the general ledger. A non-machine journal entry application can be operated on a web platform which can be operated to maintain recurrent entries, create new or correct existing entries, and validate entries before posting them to the general ledger system. Operating the non-machine journal entry application, a user can store and maintain recurring entries in a database; validate a journal batch before posting; post recurring entries; correct existing entries; track journal entry batches sent to the general ledger; report on types of journal entries and posting history; and verify recurring batch completeness from exception, summary and account detail reports.Type: ApplicationFiled: December 30, 2009Publication date: September 30, 2010Applicant: AMERICAN INTERNATIONAL GROUP, INC.Inventors: John Savage, Lucy Lyulkin, Natalia Goudkova, Edward Granaghan, Callie Thomas, Kurt Makse, Erin Sheehan, Thomas Conneally
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Publication number: 20100191701Abstract: Aspects of the invention relate to a method and system to manage a business process and business process content, comprising a content management system that includes efficiency-improving and workflow features. Efficiency-improving features allow several people involved in a business process, including those residing in different locations, to store and access documents in a central repository of a content management system. Further, these features manage business process content that include functions such as document handling and searching capabilities that allow users to navigate, search, and develop business content efficiently. In addition, the business process becomes a virtual electronic environment without the need for redundant physical files spread throughout different offices.Type: ApplicationFiled: January 23, 2009Publication date: July 29, 2010Applicant: American International Group, Inc.Inventors: Peter Beyda, Chris Katsikas, Kasoon Chapman
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Publication number: 20100179921Abstract: Aspects of the present disclosure allow an insurance company or other institution to manage its risk by establishing a charge consistent with hedging costs in offering a minimum guarantee on an underlying investment product to its customers. Such guarantees on underlying investment products may be included in, but are not limited to, variable annuities and contingent deferred annuities (CDA). Embodiments of a process are disclosed by which the charge for a guaranteed benefit in an investment product on underlying investments can vary by investor based on actual investment behavior. Advantageously, the insurance company or other institution can better manage its risk by reducing exposure from the actual experience compared to the investment behavior assumption and enable benefits to be charged more precisely for the actual risk taken (e.g., the insurance company can offer lower cost benefits for customers who are more risk averse).Type: ApplicationFiled: December 11, 2009Publication date: July 15, 2010Applicant: American International Group, Inc.Inventor: Robert Scheinerman
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Publication number: 20100042442Abstract: A home value estimator software application and related method assist a broker to systematically and accurately estimate the value of a customer's home. Another aspect of the disclosure relates to a heuristic research methodology that can be used to determine values of different characteristics of a home to estimate the value of the customer's home. Further, the values are categorized into different levels using other heuristic methods and then stored in at least one matrix in a database. The software application accesses the values based on user input data to calculate an estimate of the value of the customer's home. Thus, the estimate more accurately reflects the appraised value of the home than the prior art. Consequently, an insurance company may quote an initial premium and insurance coverage of home insurance product to a customer that requires less or nor adjustment after a home inspector appraises the home.Type: ApplicationFiled: August 14, 2008Publication date: February 18, 2010Applicant: American International Group, Inc.Inventors: Esin Seitomer, Tim Arone
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Publication number: 20100036684Abstract: A method for underwriting an insurance product includes identifying a plurality of event categories of operational risk loss and drafting information requests for operational risk management components thereof. A database of the insurance company for stores and analyzes information provided by the client to yield an operational risk exposure assessment of the client.Type: ApplicationFiled: May 15, 2009Publication date: February 11, 2010Applicant: American International Group, Inc.Inventors: Jacqueline McNamee, Guy Willliams, Ralph Mucerino