According to Cybersettle, which specialises in insurance claims disputes, the patented method is used for confidential claim settlements, and involves "matching offers and demands on its secure web site" through a "double-blind bidding process."
Cybersettle has already been awarded a US patent for its on-line settlement method in December 2001. That patent covers:
"a computerised system for automated dispute resolution through an intranet web site via the internet or other communications linkage for communicating and processing a series of demands to satisfy a claim made by or on behalf of a claimant or other person involved in a dispute with at least one other person, such as a defendant, his or her insurer, or other sponsor, and a series of offers to settle the claim through at least one central processing unit including operation system software for controlling the central processing unit is disclosed."
The company said it is "excited" about the new patent and that it is now looking to expand in Europe through UK partners.
The text of the UK patent is not available on-line, but the US patent filing can be found here
