Michael E Mcmillian

US Patent:

20040030588, Feb 12, 2004

Filed:

Aug 9, 2002

Appl. No.:

10/215643

Inventors:

Michael McMillian - Alexandria VA, US
Douglas Falvey - Covington KY, US
Deborah Mardis - Edgewood KY, US
Marc Tepe - Ft. Thomas KY, US
Donald Marthey - Milford OH, US

Assignee:

American Modern Insurance Group, Inc.

International Classification:

G06F017/60

US Classification:

705/004000

Abstract:

The time that a notification letter is sent from a lender to an insured upon expiration of an insurance binder, expiration of an insurance policy or cancellation of an insurance policy is ascertained by empirically determining typical delay factors based on particular insurance companies. These can include typical mailing delay factors and the typical response time of the individual insured. These are combined and compared with minimum allowed delay factors and maximum allowable delay factor set by the lender. The empirically determined delay factor is used to determine the time a notice is sent out if it falls between the minimum delay factor and the maximum delay factor. This prevents unnecessary notification letters being sent to borrowers.