Vincent M Hummel

Title: Innovations by Vincent M Hummel

Introduction

Vincent M Hummel is an accomplished inventor based in Roanoke, Illinois. He has made significant contributions to the field of insurance technology, particularly in the area of vehicle total loss claims. With a total of two patents to his name, Hummel's work reflects a commitment to improving processes within the insurance industry.

Latest Patents

Hummel's latest patents focus on a method and system for early identification and settlement of total loss claims. This innovative method involves retrieving a variety of historical vehicle records and labeling them as either repaired or total loss. The process includes calculating mean cost values, training a regression model, and optimizing a probability threshold. By analyzing multiple inputs, the system generates predictions regarding the status of a vehicle claim. Furthermore, the computing system designed by Hummel includes a transceiver, a processor, and memory that stores instructions for executing these tasks. When a prediction indicates that a vehicle is repairable, the system generates a repair suggestion. Conversely, if the prediction indicates a total loss, it generates a settlement offer. This technology aims to streamline the claims process and enhance customer satisfaction.

Career Highlights

Vincent M Hummel is currently employed at State Farm Mutual Automobile Insurance Company, where he applies his expertise in insurance technology. His innovative approach has positioned him as a valuable asset within the company, contributing to advancements in claims processing and customer service.

Collaborations

Hummel has worked alongside notable colleagues, including Carlee A Clymer and Gary Foreman. Their collaborative efforts have furthered the development of innovative solutions within the insurance sector.

Conclusion

Vincent M Hummel's contributions to the field of insurance technology through his patents demonstrate his dedication to improving the efficiency of vehicle total loss claims. His work not only benefits the insurance industry but also enhances the experience for customers navigating the claims process.