PLATFORM IMPLEMENTING RETROSPECTIVE LOSS POOLING

摘要

A retrospective loss pooling platform and associated method creates an automated loss pooling mechanism for groups that will cost share on demand while further shedding the expense burden associated with insurance company operations and regulatory compliance. The systems and methods implement retrospective loss pooling of expenses for payment by using one or more processors to create loss pool groups of members that are contractually obligated to collectively pay the expenses of other members in respective time periods in response to expenses received from the members of the group in the respective time periods, receive and validate expenses submitted by the group members in a given time period, and cause payment of expenses received and validated in the given time period from payment accounts of respective members in the group in accordance with the group's contractual obligations. Significantly, the given time period occurs prior to payment so that the payment amounts are not speculative.