Aggregate Document Generation for Account Settlement
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Solution Overview
Problem
The process of settling accounts for a deceased policy holder is burdensome for beneficiaries, as they receive duplicative information and must interact with multiple agencies, leading to inefficiency and distress during a difficult time.
Innovation Solution
A system and method that aggregates account information by identifying common content across multiple document definitions, generating a single aggregate document that eliminates repetitive information, and designating a point of contact to facilitate account settlement, reducing the burden on beneficiaries.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If beneficiaries receive individualized correspondences from multiple agencies for account settlement, then each agency can process accounts independently, but beneficiaries are burdened with reviewing and providing duplicative information to various agencies
Solution Approach 1:
The patent combines multiple individualized correspondences from different agencies into a single consolidated communication. The system aggregates account information, required actions, and supporting documents from multiple agencies into one unified package sent to the beneficiary, eliminating the need to review and respond to separate communications from each agency independently.
Solution Approach 2:
The patent introduces an intermediary system that acts as a mediator between multiple agencies and the beneficiary. This intermediary aggregates information from various agencies, consolidates it into a single communication, and manages the coordination of account settlement actions, reducing the direct burden on the beneficiary to interact with multiple agencies separately.
2Adaptability or versatility
If beneficiaries interact with multiple points of contact representing various agencies, then each agency can provide specialized service, but the settlement process becomes complex and time-consuming
Solution Approach 1:
The patent merges multiple points of contact from different agencies into a single consolidated point of contact or communication channel. The system combines the specialized services and information from various agency representatives into one unified interaction, allowing the beneficiary to receive comprehensive guidance without managing multiple separate communications and contacts.
3Productivity
If agencies process accounts independently with individualized correspondences, then each agency maintains operational autonomy, but beneficiaries receive duplicative information and requests
Solution Approach 1:
The patent merges duplicative information from multiple agency correspondences into a single consolidated communication. The system identifies and combines repeated requests, account details, and required actions across different agency communications, presenting each unique piece of information only once to the beneficiary while preserving the specialized processing capabilities of each agency.
Data Source
AI summary
A system, method, and computer-readable medium for settling accounts are provided. An aggregate policy document is generated from a plurality of document definitions that each respectively define a policy document. Mechanisms are provided that identify repetitive content that is common to a plurality of the documents definitions. A single instance of the repetitive content is included in the aggregate document. Content of the document definitions may include information sets having content to be reviewed by a beneficiary, and information request sets having content that provides a solicitation of information from the beneficiary. The aggregate document may contain content of a plurality of documents in a manner that allows the beneficiary to efficiently settle a plurality of accounts without the repetitive review of common document content and without the repetitive supply of common information.