State Farm Mutual Automobile Insurance Company

United Services Automobile Association (usaa)

Edward Austin

Bharat Prasad

Sharon Kay Haverlah

Nolan White

William Guthrie

Karen Marie Shackelford-George

Dustin Helland

Ryan Maurer

Kyle D Weber

Aspects of distributed ledger technology are leveraged to verify subrogation settlements. In particular, two parties to a subrogation claim provide cryptographic hashes to a subrogation demand smart contract stored at an address on a blockchain. The subrogation demand smart contract determines that the parties have reached an agreement by determining that the cryptographic hashes match. A settlement amount from the subrogation claim may be appended to a set of settlement amounts to determine a net settlement amount to facilitate a single payment between the parties on a periodic basis, such as daily, to alleviate the need for the parties to send or receive a payment for each individual settlement amount.

Net settlement of subrogation claims using a distributed ledger

Growing community of inventors

Scottsdale, AZ, United States of America

Edward Austin