AN ELECTRONIC SYSTEM AND METHOD FOR IMPLEMENTING A VEHICLE INSURANCE PLAN

摘要

A method and an electronic system for implementing a vehicle insurance plan includes a communication module to receive from a vehicle owner a write off selection for an insured vehicle. An assessment module receives a claimed amount from the vehicle owner after the insured vehicle has been damaged and uses the claimed amount and the write off selection to determine if the claimed amount or insured value of the vehicle is to be paid. This is done as follows, the write off selection received from the vehicle owner is a percentage amount. This is multiplied by the vehicle's insured value to arrive at a write off value which is compared with the claimed amount. If the claimed amount is greater than the write off value, the insured value of the vehicle is authorised for payment.