Automated Contract Evaluation System for Business Triage
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Solution Overview
Problem
Businesses face inefficiencies and high costs in evaluating and responding to numerous solicitation contracts due to the time-consuming and labor-intensive process, which can lead to delays and potential revocation of offers, especially in industries like reinsurance where timely decision-making is crucial.
Innovation Solution
A system and method utilizing a server-based contract evaluator that assesses input data for completeness and validity, automating the evaluation process through multiple stages of triage, including technical validation, business rule checks, and potential human intervention, to efficiently process and respond to business offers.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If representatives of the receiving business manually consider solicitation contracts, then the evaluation can be thorough and accurate, but the process is time-consuming and costly
Solution Approach 1:
The patent segments the contract evaluation process into multiple hierarchical levels: automated rule-based screening (first level), semi-automated evaluation with human oversight (second level), and full human review for complex cases (third level). This segmentation allows routine contracts to be processed quickly by automation while reserving human expertise for exceptional cases, thereby reducing overall response time without sacrificing evaluation accuracy.
Solution Approach 2:
The patent introduces an intermediary automated evaluation system that acts as a mediator between the solicitation contract and human reviewers. This intermediary performs preliminary assessments, validates data completeness, and filters contracts based on pre-defined business rules, thereby preparing contracts for human review and reducing the time burden on representatives while maintaining thorough evaluation through multiple stages.
2Productivity
If multiple personnel are deployed to consider all contract offers, then the processing capacity increases, but the costs increase significantly
Solution Approach 1:
The patent implements self-service automation where the system automatically performs contract evaluation, data validation, and preliminary analysis without requiring human intervention for routine contracts. The automated evaluation engine independently assesses contracts against business rules, calculates key metrics, and generates recommendations, thereby increasing processing capacity while eliminating the need for multiple personnel and reducing operational costs.
Solution Approach 2:
The patent changes the operational parameters of the evaluation system by transitioning from a purely manual process to a hybrid automated-manual process. This parameter change enables the system to handle a much larger volume of contracts by automating routine evaluations, thereby increasing productivity without proportionally increasing costs, as automation handles the majority of contracts with minimal human resources.
3Measurement precision
If considerable time is taken to evaluate contracts thoroughly, then the evaluation quality improves, but the soliciting business may renege on the offer
Solution Approach 1:
The patent performs preliminary actions by automatically validating contract data completeness, checking against business rules, and pre-assessing contracts before human reviewers engage. This preliminary automated evaluation ensures that only complete and valid contracts proceed to detailed review, maintaining evaluation quality while significantly reducing the time required for initial assessment, thereby preventing offer revocation due to delays.
Solution Approach 2:
The patent establishes continuous evaluation action through an automated system that operates without interruption to assess contracts as they arrive. The system continuously monitors incoming solicitations, performs real-time validation and preliminary analysis, and maintains a pipeline of evaluated contracts ready for decision-making, ensuring that evaluation quality is maintained while response time is minimized to preserve offer validity.
4Speed
If an automated system is implemented to reduce manual evaluation, then the processing speed increases, but the complexity of the system increases
Solution Approach 1:
The patent segments the automated evaluation system into distinct modular components: data validation module, business rule engine, scoring algorithm, and recommendation generator. Each module performs a specific function and can be independently configured and maintained. This segmentation increases evaluation speed through automation while managing system complexity by organizing functions into manageable, loosely-coupled modules that can be developed and deployed separately.
Data Source
AI summary
Systems and methods are disclosed for transacting business between a solicitor and a business. The system includes a server used by a business. The server is accessible by a solicitor. An evaluator is housed on the server. The evaluator receives input data by the solicitor and determines at a first stage whether the input data is complete to receive further evaluation, and at a second stage whether the input data as a whole falls within one or more specific pathways of further data evaluation.