Claims:We Claim:

1. A system for verifying and tracking of manufactured articles from insurance salvage, comprising:

a first computing device comprising a verification and tracking module configured to establish communication with a second computing device, whereby the verification and tracking module configured to enable the first computing device to scan one or more machine readable codes on one or more manufactured articles to determine insurance salvage utilized, the verification and tracking module configured to provide the insurance salvage related information of the one or more manufactured articles and then sends a plurality of real time communications to the first computing device operated by a registered user; and

a database configured to store, retrieve data related to the insurance salvage related information of the one or more manufactured articles from the verification and tracking module, whereby the verification and tracking module configured to enable the first computing device and the second computing device to access the database.

2. The system as claimed in claim 1, wherein the verification and tracking module comprises a registration module configured to register a user or a product on the first computing device and the second computing device.

3. The system as claimed in claim 1, wherein the verification and tracking module comprises a product identification module configured to identify a insurance salvage related information of the product.

4. The system as claimed in claim 1, wherein the verification and tracking module comprises a machine code readable module configured to enable the first computing device to scan the one or more machine readable codes on the one or more manufactured articles to determine the insurance salvage utilized.

5. The system as claimed in claim 1, wherein the insurance salvage utilized to produce the one or more manufactured articles is selected from a vehicle salvage, an aviation salvage, a marine salvage, a rail salvage and combinations thereof.

6. A method for verifying and tracking of manufactured articles from insurance salvage, comprising:

registering a user or product in a registration module, whereby the registration module configured to allow the registered user to create a login and search information regarding the product purchased on a computing device;

enabling the computing device to scan one or more machine readable codes on one or more articles to determine the insurance salvage utilized;

identifying an insurance salvage related information associated with the one or more machine readable codes on the computing device; and

storing and retrieving data related to the insurance salvage related information of the one or more manufactured articles from a verification and tracking module. , Description:TECHNICAL FIELD
[001] The present disclosure generally relates to the field of manufacturing useful articles from insurance salvage. More particularly, the present disclosure relates to a system and method for verifying and tracking the manufactured articles from insurance salvage. For example: the manufactured articles may be useful or valuable articles such as key chains, mementos, etc.

BACKGROUND

[002] When we talk of manufacturing certain usable articles or goods from the insurance salvage – question invariably comes ‘what is the difference between salvage & Insurance salvage? The difference between salvage and insurance salvage is what the insurance companies are doing. From times immemorial, regarding the salvage, what is the procedure the insurers are following? With respect to the procedure, when we talk about insurance salvage, it must be salvage belonging to non-life insurance companies. Salvage or in other words insurance salvage pertains to property insurance. The property can be a vehicle which is insured under Motor Vehicles Act, 1988, goods, factories, cargo, ship, aviation, computers and the list is endless. Property includes everything that can be owned by an individual or a company. In our parlance and for our purposes, we use the term ‘property’ as that which is insured by non-life insurance company. What is the present practice that the insurers are following with regard to salvage?

[003] The word insurance salvage itself indicates that there was an accident or a mishap, it also denotes a police investigation or investigations were conducted by concerned authorities to eliminate the possibility of cheating or fraud and to ascertain the veracity of the mishap or accident that had occurred. Insurance salvage also denotes that there is a policy existing where premiums are being paid by policyholder and risk is being covered by insurer. Insurance salvage also denotes that claim is paid subject to deduction of outstanding premiums, depreciation and other conditions and the contract between the insurer and insured is honoured. Further, it also indicates that there was a total loss, not partial loss. The entire Sum Assured (SA) or the value of the property is paid; to be very specific the insured amount is paid by the insurer to the insured.

[004] As per the insurance law, the salvage after paying the claim, in totality, becomes insurer’s property. In other words, insurer will have full ownership rights on insurance salvage. The rights over the possible salvage are transferred from insured to insurer at the time of entering in to the insurance contract. Now having owned the salvage, what does the insurer do? Will he not sell the salvage to the scrap dealer or to the highest bidder to reduce losses? Not only in India but also across globe, this is the thumb rule and this practice is being followed. In other words, both the parties of the contract, insurer and insured are satisfied to have honoured the contract and the contract, since fulfilled, have come to an end.

[005] Now the issue is - what are the lessons learnt by insurers? Honouring the contract is one part. Insurers are in existence, not only to take risk in lieu of small premium but they also exist to teach the public about safety and security. It is the duty of insurers to educate the masses about the effects of risk. Billions of dollars across globe, including India, are paid towards claims by insurers. After paying billions in claims, the process has simply arrived to a dead end. The salvage is being sold to a scrap dealer or salvage dealer. Mostly, it is being left at the accident site because transporting of the salvage is more expensive than selling and realizing some money out of it. If we were to take motor vehicles insurance as an example, according to Indian Motor Vehicles Act, 1988, insurance for 2/4/6/8/12 wheelers etc. is compulsory - third party insurance. The punishment for not abiding with the regulations is very stringent. Hence every vehicle needs to be insured. Whenever we travel on a national highway, we observe many accident vehicles lying next to the road. There are no takers for salvage; therefore the vehicle was left lying by the side of road for the years together. Premium was paid, claim was settled, contract honoured; people have forgotten both insurance company and the client. Surprising to know, for example, a car which was worth Rs 10 lakhs, claim was paid by the insurance company in full settlement. After spending a huge amount in claim, no lesson was learnt on safety and security! The entire mechanism reached a dead end! Therefore, a necessity has cropped up to find a solution for this problem. It may be an aeroplane, a ship or it could be any property, the wheel has come to a grinding halt.

[006] Thus, our endeavour is to purchase such salvage of abandoned vehicles from the insurers and use them to manufacture some articles of utility to remind constantly not only to the public but also the insurers that safety in not a onetime lesson but a daily practice. The human psychology needs daily teaching about safety norms and procedures. It should be constantly reminded. The articles thus manufactured out of insurance salvage will help remind the necessity of following safety protocols during every step of life.

[007] We are not claiming that by using these articles of utility there will not be any accidents in future or people would have learnt the lessons on safety. That was not what we think. What, in fact, we are claiming is - by following safety procedures if we can help save even one life, the society becomes richer and the nation greater. We are taking the lessons of insurance to their logical ending through the proposal of manufacturing articles of utility from the insurance salvage.

[008] Various systems such as law enforcement authority, insurance companies, etc. have their discrete databases to maintain the records of the vehicle, type of vehicle, registration number and other bibliographic details. There are no decentralized databases that maintain all the bibliographic details of the vehicles with less scope of error. There is a need to convert all types of insurance salvage into useful articles, provide information related to the mishap from where the salvage to produce the useful articles is obtained to generate sensitivity among public regarding following vehicle safety procedures, etc.
[009] Recently Govt. of India has taken critical steps to safe guard the lives of motorists and to bring discipline for motorists by enhancing the penalties for driving errors in the motor vehicles act. This is a right act at a right time done by Govt. of India. The penalties before and after the act are appended below and they are effective from 1st September 2019

Description of Offence Old Penalty New Penalty or Amended penalty

General First-Time Offence: Rs.100

Second-Time Offence: Rs.300 First-Time Offence: Rs.500

Second-Time Offence: Rs.1,500
Violation of Road Rules Nil Rs.500 to Rs.1,000


Driving an Unauthorized Vehicle without License Rs.1,000 Rs.5,000
Driving Without License Rs.500 Rs.5,000
Driving Regardless of Disqualification Rs.500 Rs.10,000
Over-Speeding Rs.400 Light Motor Vehicle:
Rs.1,000 to Rs.2,000

Medium Passenger or Goods Vehicle:
Rs.2,000 to Rs.4,000 and impounding of DL for the Subsequent or Second-Time Offence.
Dangerous / Rash Driving Nil First-Time Offence:
Imprisonment of 6 Months to 1 Year and/or Fine of Rs.1,000 to Rs.5,000

Second-Time Offence:
Imprisonment of up to 2 years and/or Fine up to Rs.10,000.
Driving Under the Influence of Alcohol or Intoxicating Substance Rs.2,000 First-Time Offence:
Rs.10,000 and/or Imprisonment of up to 6 months.

Second-Time Offence:
Rs.15,000 and/or Imprisonment of up to 2 years.
Oversized Vehicles Nil Rs.5,000
Driving When Mentally/Physically Unfit First-Time Offence:Rs.200

Second-Time Offence:Rs.500 First-Time Offence: Rs.1,000

Second-Time Offence: Rs.2,000
Accident Related Offences Nil First-Time Offence:
Rs.5,000 and/or Imprisonment of up to 6 months.

Second-Time Offence:
Rs,10,000 and/or Imprisonment of up to 1 Year.
Driving Uninsured Vehicle (without Insurance) Rs.1,000 and/or Imprisonment of up to 3 months. First-Time Offence:
Rs.2,000 and/or Imprisonment of up to 3 months.

Second-Time Offence:
Rs.4,000 and/or Imprisonment of up to 3 months.
Racing and Speeding Rs.500 First-Time Offence:
Rs.5,000 and/or Imprisonment of up to 3 months.

Second-Time Offence:
Rs.10,000 and/or Imprisonment of up to 1 year.
Vehicle Without Permit Up to Rs.5,000 Rs.10,000 and/or Imprisonment of up to 6 months.

Overloading Rs.2,000 and Rs.1,000 per extra tonne Rs.20,000 and Rs.2,000 per extra tonne
Overloading of Passengers Nil Rs.1,000 per extra passenger
Not Wearing Seatbelt Rs.100 Rs.1,000
Overloading of Two-Wheelers Rs.100 Rs.2,000 and Disqualification of License for 3 months
Not Wearing Helmet Rs.100 Rs.1,000 and Disqualification of License for 3 months
Not Providing Way for Emergency Vehicles Nil Rs.10,000 and/or Imprisonment of 6 months
Offences by Juveniles Nil Rs.25,000 with Imprisonment of 3 years for which the Guardian / Owner shall be deemed to be guilty.

[010] In the light of aforementioned discussion there exists a need for a system and method that would ameliorate or overcome the above mentioned disadvantages.

BRIEF SUMMARY

[011] The following presents a simplified summary of the disclosure in order to provide a basic understanding to the reader. This summary is not an extensive overview of the disclosure and it does not identify key/critical elements of the invention or delineate the scope of the invention. Its sole purpose is to present some concepts disclosed herein in a simplified form as a prelude to the more detailed description that is presented later.

[012] A more complete appreciation of the present invention and the scope thereof can be obtained from the accompanying drawings which are briefly summarized below and the following detailed description of the presently preferred embodiments.
[013] Exemplary embodiments of the present disclosure are directed towards a system and method for verifying and tracking manufactured articles from insurance salvage.

[014] An objective of the present disclosure is directed towards providing updates and related information, track with specificity, regarding any item or article produced from insurance salvage in a congruent and continual manner.

[015] Another objective of the present disclosure is directed towards supplying accurate, congruent and meaningful information about the incidence and nature of accidents that may be tracked even by type and model of vehicle from the manufactured articles.

[016] Another objective of the present disclosure is directed towards providing a centralized uniform system for maintaining up-to-date and accurate titles of all objects of value obtained from insurance salvage throughout that object's life-cycle.

[017] According to an exemplary aspect , the system comprising a first computing device comprising a verification and tracking module configured to establish communication with a second computing device, the verification and tracking module configured to enable the first computing device to scan one or more machine readable codes on one or more manufactured articles to determine insurance salvage utilized, the verification and tracking module configured to provide the insurance salvage related information of one or more manufactured articles and sends a plurality of real time communications to the registered user; and a database configured to store, retrieve data related to the insurance salvage related information of one or more manufactured articles from the verification and tracking module, the verification and tracking module configured to enable the first computing device and the second computing device to access the database.

BRIEF DESCRIPTION OF DRAWINGS

[018] For further understanding of the nature and objects of the present invention reference should be had to the following detailed description of the preferred embodiment thereof, taken in conjunction with the accompanying drawings, in which like parts are given like reference numerals and wherein.

[019] FIG. 1 is a diagram depicting a system for verifying and tracking the manufactured articles from insurance salvage, in accordance with one or more exemplary embodiments.

[020] Referring to FIG. 2 is schematic diagram depicting the verification and tracking module 108, in accordance with one or more exemplary embodiments.

[021] FIG. 3 is a flowchart depicting a method to track one or more manufactured articles from insurance salvage, in accordance with one or more exemplary embodiments.

[022] FIG. 4 is a block diagram illustrating the details of a digital processing system in which various aspects of the present disclosure are operative by execution of appropriate software instructions.

[023] FIG. 5 is a detailed flowchart depicting a method to track one or more manufactured articles from insurance salvage, in accordance with one or more exemplary embodiments.

[024] FIG. 6 is an example diagram depicting a home screen of verification and tracking module 108, in accordance with one or more exemplary embodiments.

[025] FIG. 7 is an example diagram depicting the screen layout when vehicle and insurance details is selected, in accordance with one or more exemplary embodiments.

[026] FIG. 8 is an example diagram depicting the screen layout when accident details are selected, in accordance with one or more exemplary embodiments.

[027] FIG. 9 is an example diagram depicting the screen layout when photos and videos is selected, according to exemplary embodiments of the present disclosure.

DETAILED DESCRIPTION

[028] It is to be understood that the present disclosure is not limited in its application to the details of construction and the arrangement of components set forth in the following description or illustrated in the drawings. The present disclosure is capable of other embodiments and of being practiced or of being carried out in various ways. Also, it is to be understood that the phraseology and terminology used herein is for the purpose of description and should not be regarded as limiting.

[029] The use of “including”, “comprising” or “having” and variations thereof herein is meant to encompass the items listed thereafter and equivalents thereof as well as additional items. The terms “a” and “an” herein do not denote a limitation of quantity, but rather denote the presence of at least one of the referenced item. Further, the use of terms “first”, “second”, and “third”, and the like, herein do not denote any order, quantity, or importance, but rather are used to distinguish one element from another.

[030] None of the terms used herein, including “item”, “insured property”, “property”, “insured item”, “articles of value”, “objects”, “manufactured articles” and the like are meant to limit the application of the invention. The terms are used interchangeably for convenience and are not intended to limit the scope of the invention. Similarly, the use of the term “insurer”, “individual”, “purchaser”, “target company”, “user”, “registered user”, and “corporation” is not meant to limit the scope of the invention to one type of entity, as any entity or individual can also utilize the present invention. The following presents a detailed description of a preferred embodiment of the present invention.

[031] When we say that an insurance claim is settled by an insurer, it means the following without exception: There was a contract between the insurer and insured. According to the existing underwriting philosophy of the insurer, the contract was entered. The premium is paid by the insured in full. Policy document may or may not have been issued. Risk acceptance communicated by the insurer to the insured. In other words, the policy is in force. It also entails that all implied and explicit conditions surrounding the policy contract are met with. Insurance is taken for the purposes of covering risk. Insurance, thus, is a risk transfer mechanism. The insured will transfer the risk to the insurer; Insurer will accept the risk for a small premium - consideration. The duration of a non-life insurance policy can be of one day, one month, one year, two years; three years so on and so forth. It depends on the nature of the property being insured. Since insurance is defined as risk transfer mechanism, in case of any accident or mishap or untoward incident insured will inform the insurer as soon as possible. What is as soon as possible? It can be one minute to it can be six months, depends on the nature of the property insured. However, the insurance law entails loss to the property should be intimated a soon as possible. If it is an accident and where necessary, the police will register First Information Report (FIR). The insurer upon receiving the initial intimation from the insured shall issue a claim intimation number. Depending upon the nature of the claim, the degree and extent of the claim, the said accident will be investigated. The said accident claim will be investigated by the experts concerned, if it is a marine claim then marine experts, aviation then aviation engineers, and for fire insurance and motor vehicle insurance we have surveyors, investigators & loss adjustors to investigate the claim. To eliminate the possibility of any intentional destruction or damage to the property, insurance covers only accidental losses and not intentional losses. Based on the FIR issued by the officials concerned and on the claim investigation reports, suitable decision is taken and the claim is settled in full. In other words, the insured will be indemnified. Indemnity means the insurer will keep the insured approximately in the same financial position as he was before the loss. The insurance salvage, if any remaining, will automatically become the property of the insurer. This is what we meant whenever we say a claim is settled by an insurer. The insurance salvage is generally auctioned or sold by the insurer to the salvage dealers, scrap dealers - generally to the highest bidder. The salvage dealers or scrap dealers will inspect the insurance salvage, examine if any part can be used or recycled, whether they can get any profit out of this insurance salvage. Based on this examination, insurance salvage or scrap dealers will bid for the insurance salvage.

[032] Sometimes (and often) it so happens that there may not be any reusable or recyclable parts according to the scrap dealers or insurance salvage dealers; or transporting the insurance salvage from the accident site is more expensive than the said salvage itself. Under these circumstances, no buyer will come forward to buy the insurance salvage. The salvage in other words will be lying near the accident site for years together. This is where M/s XYZ Company steps into the picture. Our intention is not to compete with the insurance salvage dealers or scrap dealers. The said unsold insurance salvage lying unsold - is what we are intending to buy from the insurer. M/s XYZ Company proposes to enter into a contract with the insurers to buy the insurance salvage. The insurance salvage may have arisen from road accidents, air accidents, marine accidents or other property accidents like fire, earthquake etc. Further, M/s XYZ Company proposes to enter into a standardized annual contract or a permanent (if possible) contract with the insurers to buy any unsold insurance salvage for a mutually agreed consideration. By signing a contract of agreement with the insurer or by buying the insurance salvage from the insurer, the ownership rights on salvage are transferred from the insurer to M/s XYZ Company. Ownership rights on the salvage shall include the claim documentation too. What are the claim documents? Police investigation report, FIR, photos, insurance investigation reports conducted by the insurer describing the nature of accident, how the accident has happened, what are the safety precautions that did not work etc. These papers together will make a claim file. These documents automatically along with the salvage are transferred to M/s XYZ Company. Now, M/s XYZ Company is in a position to know the exact location of the salvage, who made the accident, how the accident happened, the police reports, reports of the insurance investigating officials – thus, all information on the said salvage is available. Upon having this data, M/s XYZ Company shall capture, at its own expense, further photos and videos of the salvaged property. We will integrate the ownership details and salvage details. Ownership details include type of property, location of the property, type of accident, cause of accident. Salvage details include location of the accident, casualty details, FIR details, investigation reports etc. Note: It must be remembered that the privacy laws must strictly be adhered to. Neither the name of the client who made an accident or to whom the claim amount is paid nor the location of the client or any information that either directly or indirectly identifies the client shall come under privacy laws and those privacy laws will be strictly adhered to. M/s XYZ Company officials will visit the salvage property, segregate usable and non-usable portions of the salvage. Non usable portions shall be disposed according to the current environment regulations and safety principles. Within the usable parts, further segregation of the materials such as plastic, rubber, metal, aluminium, iron will be made and they will be, thus, sorted. Sizing or cutting the salvaged property into identifiable pieces such as rubber, aluminium etc. as segregated earlier so that is easily transported to the nearest manufacturing facility authorized by M/s XYZ Company. Depending upon the size, type and material of the salvage, in the nearest authorized facility, decision will be taken on the type of products that can be produced from insurance salvage - such a key chains, road blocks, bracelets, rings, paper weights etc. and accordingly the products are produced. Once these articles of utility are produced, assign computer generated Unique Identification Number (UIN) for the product. The UIN indicates the insurance salvage from which the said products are produced. Printing the UIN on the product will enable the end user (by scanning the QR code on the product) to know complete accident details as to how the accident has happened, what went wrong etc. Once the UIN is printed on the products, arrange for packaging products in a suitable manner. Since the potential buyers are already identified, buyers with or without corporate social responsibility (CSR) budget - insurance companies, broking companies and other corporates. Send these products according to the requirements of these buyers/organizations. Sale of these finished products – articles of utility - take place between M/s XYZ Company and the potential buyer.

[033] Sometimes, depending upon the requirement from the buyer, we shall customize products. In other words, print the name of the company or logo of the buyer on the product. Dispatch the product to the buyers/organizations as per the standard postal norms. The buyer will distribute those products to his stakeholders, clients, well-wishers, and employees – end users. When the end user enters the UIN or scans the QR code the history of the entire accident is displayed either on the computer or mobile phone along with accident details, location of the accident using Google maps etc.

[034] An untold lesson, teaching is taking place here. We are telling the end user not to commit such kind of grossly silly mistakes resulting in loss of property, lives or both. The lessons on safety are propagated 24*7. Reducing the accident occurrence, customer introspection on safety habits & protocols will enhance safe and secure atmosphere in society. A safe society, an accident free society that adheres to the laws is a good and healthy society. Thus, through unusable insurance scrap or salvage, we are educating people on safety and contributing to a strong healthy society and nation. We are thus, aiding in our own tiny way in nation building. This practice of producing articles of utility from the insurance salvage we are, thus, taking to its logical end - the final frontier.

[035] Referring to FIG. 1 is a diagram depicting a system 100 for verifying and tracking manufactured articles from insurance salvage, in accordance with one or more exemplary embodiments. The system 100 includes a first computing device 104 and a second computing device connected via a network 110. The first computing device 104 and the second computing device 106 comprise a verification and tracking module 108. The first computing device 104 and the second computing device 106 may include but not limited to, a computer workstation, an interactive kiosk, and a personal mobile computing device such as a digital assistant, a mobile phone, a laptop, and storage devices, backend servers hosting database and other software, and so forth. The network 110 may include but not limited to, an Internet of things (IoT network devices), an Ethernet, a wireless local area network (WLAN), or a wide area network (WAN), a Bluetooth low energy network, a ZigBee network, a WIFI communication network e.g., the wireless high speed internet, or a combination of networks, a cellular service such as a 4G (e.g., LTE, mobile WiMAX) or 5G cellular data service, a RFID module, a NFC module, wired cables, such as the world-wide-web based Internet, or other types of networks may include Transport Control Protocol/Internet Protocol (TCP/IP) or device addresses (e.g. network-based MAC addresses, or those provided in a proprietary networking protocol, such as Modbus TCP, or by using appropriate data feeds to obtain data from various web services, including retrieving XML data from an HTTP address, then traversing the XML for a particular node) and so forth without limiting the scope of the present disclosure. The first computing device 104 may be operated by the first end user. The second computing device 106 may be operated by the second end user. The first end user may include but not be limited to an individual, an insurer, a registered user, a purchaser, a target company, and so forth. The second end user may include an administrative personnel in the target company, any other authorized personal from a target company. The first computing device 104 and second computing device 106 includes at least one a verification and tracking module 108.

[036] Referring to FIG. 2 is block diagram 200 depicting verification and tracking module 108 as shown in FIG. 1, in accordance with one or more exemplary embodiments. The verification and tracking module 108 may include a bus 201, a registration module 202, a machine code readable module 204, a product identification module 206 and a database 208. The bus 201 may include a path that permits communication among the modules of the verification and tracking module 108 installed on the computing device 104 or 106. The term “module” is used broadly herein and refers generally to a program resident in the memory of the computing device 104 or 106. The registration module 202 is configured to register a user or a product on the first computing device 104 and the second computing device 106. The machine code readable module 204 is configured to enable the first computing device 104 to scan the one or more machine readable codes on the one or more manufactured articles to determine the insurance salvage utilized. The machine readable codes may include, but not limited to, quick response (QR) codes, digital matrix codes, rapid response (RR) codes, short codes, mobitags, 2-dimensional bar codes, 3-dimensional bar codes, display codes, images, and so forth. The product identification module 206 is configured to identify insurance salvage related information of the product.

[037] The database 208 is configured to store, retrieve data related to the insurance salvage related information of the one or more manufactured articles from the verification and tracking module 108, the verification and tracking module 108 is configured to enable the first computing device 104 and the second computing device 106 to access the database 208.

[038] FIG. 3 is a flowchart 300 depicting a method to track one or more manufactured articles from insurance salvage, in accordance with one or more exemplary embodiments.The method 300 initiates at step 302 with registering a user or product in a registration module. Consequently, scanning one or more machine readable codes on one or more manufactured articles to determine the insurance salvage utilized is performed in step 304. At step 306, identifying the one or more machine readable codes on the one or more manufactured articles is executed. At step 308, storing and retrieving data related to the insurance salvage related information of the one or more manufactured articles from a verification and tracking module 108 is executed.

[039] FIG. 4 is a block diagram 400 illustrating the details of a digital processing system 400 in which various aspects of the present disclosure are operative by execution of appropriate software instructions. The digital processing system 400 may correspond to the computing device 104 or 106 (or any other system in which the various features disclosed above can be implemented).

[040] Digital processing system 400 may contain one or more processors such as a central processing unit (CPU) 410, random access memory (RAM) 420, secondary memory 427, graphics controller 460, display unit 470, network interface 480, and input interface 490. All the components except display unit 470 may communicate with each other over communication path 450, which may contain several buses as is well known in the relevant arts. The components of Figure 4 are described below in further detail.

[041] CPU 410 may execute instructions stored in RAM 420 to provide several features of the present disclosure. CPU 410 may contain multiple processing units, with each processing unit potentially being designed for a specific task. Alternatively, CPU 410 may contain only a single general-purpose processing unit.

[042] RAM 420 may receive instructions from secondary memory 430 using communication path 450. RAM 420 is shown currently containing software instructions, such as those used in threads and stacks, constituting shared environment 425 and/or user programs 426. Shared environment 425 includes operating systems, device drivers, virtual machines, etc., which provide a (common) run time environment for execution of user programs 426.

[043] Graphics controller 460 generates display signals (e.g., in RGB format) to display unit 470 based on data/instructions received from CPU 410. Display unit 470 contains a display screen to display the images defined by the display signals. Input interface 490 may correspond to a keyboard and a pointing device (e.g., touch-pad, mouse) and may be used to provide inputs. Network interface 480 provides connectivity to a network (e.g., using Internet Protocol), and may be used to communicate with other systems (such as those shown in Figure 1) connected to the network 110.

[044] Secondary memory 430 may contain hard drive 435, flash memory 436, and removable storage drive 437. Secondary memory 430 may store the data software instructions (e.g., for performing the actions noted above with respect to the Figures), which enable digital processing system 400 to provide several features in accordance with the present disclosure.

[045] Some or all of the data and instructions may be provided on removable storage unit 440, and the data and instructions may be read and provided by removable storage drive 437 to CPU 410. Floppy drive, magnetic tape drive, CD-ROM drive, DVD Drive, Flash memory, removable memory chip (PCMCIA Card, EEPROM) are examples of such removable storage drive 437.

[046] Removable storage unit 440 may be implemented using medium and storage format compatible with removable storage drive 437 such that removable storage drive 437 can read the data and instructions. Thus, removable storage unit 440 includes a computer readable (storage) medium having stored therein computer software and/or data. However, the computer (or machine, in general) readable medium can be in other forms (e.g., non-removable, random access, etc.).

[047] In this document, the term "computer program product" is used to generally refer to removable storage unit 440 or hard disk installed in hard drive 435. These computer program products are means for providing software to digital processing system 400. CPU 410 may retrieve the software instructions, and execute the instructions to provide various features of the present disclosure described above.

[048] The term “storage media/medium” as used herein refers to any non-transitory media that store data and/or instructions that cause a machine to operate in a specific fashion. Such storage media may comprise non-volatile media and/or volatile media. Non-volatile media includes, for example, optical disks, magnetic disks, or solid-state drives, such as storage memory 430. Volatile media includes dynamic memory, such as RAM 420. Common forms of storage media include, for example, a floppy disk, a flexible disk, hard disk, solid-state drive, magnetic tape, or any other magnetic data storage medium, a CD-ROM, any other optical data storage medium, any physical medium with patterns of holes, a RAM, a PROM, and EPROM, a FLASH-EPROM, NVRAM, any other memory chip or cartridge.

[049] Storage media is distinct from but may be used in conjunction with transmission media. Transmission media participates in transferring information between storage media. For example, transmission media includes coaxial cables, copper wire and fiber optics, including the wires that comprise bus (communication path) 450. Transmission media can also take the form of acoustic or light waves, such as those generated during radio-wave and infra-red data communications

[050] FIG. 5 is a detailed flowchart 500 depicting a method to track one or more manufactured articles from insurance salvage in accordance with one or more exemplary embodiments. The method 500 starts at step 502, wherein insurance is needed for all properties to cover the risk associated with unforeseen accidents. The duration of insurance ranges from one day to 5 years. In the next step 504, policyholder (for example - owner of an automobile) takes insurance. Premium paid to keep the policy in force. Subsequently, 506 relates to unfortunate Accident taking place (Road/Rail/Air/Marine/Property). In step 508, there is loss of life or property or both. In step 510, information to insurers and police is conveyed. In step 512, investigation both by insurers and police is done and FIR (First information Report) is registered. Step 514 relates to insurer paying claim based on investigations. In step 516, if the claim paid for total loss, insurer to own the property salvage. In step 518, insurer to sell the insurance salvage to scrap dealers or salvage dealers. In step 520, sometimes scrap remains at the accident site unsold due to high cost of transportation or non-availability of reusable/recyclable parts. In step 522, M/s XYZ services approaches insurers to enter into a contract of buying the insurance salvage. In step 524, on entering into contract, M/s XYZ becomes owner of the insurance salvage. In step 526, contract buys insurance salvage entails and M/s XYZ has access to all insurance documents - like investigations reports, FIR, accident site photos etc. In step 528, M/s XYZ Services also has separate contractual agreements directly with salvage dealers and with customers for buying salvaged property. In step 530, M/s XYZ takes photos and videos of the salvaged property at accident site. In step 532, M/s XYZ Services to integrate ownership details and salvage details. The ownership details include type of the property, location of the property etc. Salvage details include location of accident, cause of accident, causality details, FIR details, investigation reports etc. In step 534, M/s XYZ officials to segregate usable and non-usable parts from insurance salvage. In step 536, segregation of usable parts/materials such as rubber, plastic, metal (iron/aluminium) etc. In step 538, disposal of non-usable residue as per the law. In step 540, M/s XYZ processes sizing of usable parts. In step 542, these parts are transported to the nearest facility. In step 544, products like key chains, rings, bracelets, paper weights, road blocks etc. are produced at the facility from usable parts. In step 546, assigning computer generated Unique Identification Number (UIN) to products. In step 548, M/s XYZ identifies potential organizations/buyers of these products. In step 550, M/s XYZ to customize products suiting to the needs of the buyers like printing the name of the buyer on the product. In step 552, M/s XYZ packs these products. In step 554, the products are dispatched to buyers. In step 556, the buyers distribute products to their stakeholders / end users. In step 558, the end user will enter the product code (UIN) or scan QR code to obtain details of the accident such as 1.Accident location 2. Accident Photos/videos 3. Vehicle / property type 4. No. of causalities occurred etc. In step 560, an untold lesson, teaching takes place for the end user on safety. M/s XYZ informs the end user not to commit such mistakes to lose property and lives. Safety lessons are propagated 24/7. In step 562, M/s XYZ aids in reducing accidents, in customer introspection of his safety habits and enhancing atmosphere of safety and security in society. In step 564, a safe society sans accidents; a society that adheres to laws; a society that is good and healthy emerges. In step 566, the nation becomes more stronger and peaceful.

[051] FIG. 6 is an example diagram 600 depicting a home screen of verification and tracking module 108, in accordance with one or more exemplary embodiments. Once the user scans the machine readable code of the article concerned on the home screen of the verification and tracking module 108, the following options are displayed. 601 represents the button wherein the machine readable code may be scanned. 602 represents the details of the machine readable code that is scanned by the user. 604 represents the sub-screen depicting the details of the machine readable scanned code of the article such as vehicle and insurance details 606, accident details 608, photos and videos details 610, and others 612. Further, 614 represents the help button which helps the user to connect with a service provider, 616 represents the quick contact links and 618 represents the contact us button.

[052] FIG. 7 is an example diagram 700 depicting the screen layout when vehicle and insurance details button 606 is selected, in accordance with one or more exemplary embodiments. Once the vehicle and insurance details button 606 is selected the entire insurance salvage history of the article is displayed. The details may include, but not be limited to vehicle type, vehicle number, vehicle engine number, vehicle chassis number, name of the owner, vehicle seating capacity, Regional transport organization (RTO), year of manufacture, make of vehicle, model, color, fuel type of the vehicle, value of vehicle, name of insured, policy number, insurer, type of insurance, amount insured, insurance policy document etc. 601 represents the button wherein the machine readable code may be scanned. 602 represents the details of the machine readable code that is scanned by the user. 604 represents the sub-screen depicting the details of the machine readable scanned code of the article such as vehicle and insurance details 606, accident details 608, photos and videos details 610, and others 612. Further, 614 represents the help button which helps the user to connect with a service provider, 616 represents the quick contact links and 618 represents the contact us button.

[053] FIG. 8 is an example diagram 800 depicting the screen layout when accident details button 608 is selected, in accordance with one or more exemplary embodiments. Once the accident details button 608 is selected, the following details are displayed. The accident details 606 may include, but not be limited to, place of accident, cause of accident, date and time of accident, driven by, number of deaths, number of disabled, First Information Report (FIR) details, date of FIR, FIR report, city state and country, and so forth. 601 represents the button wherein the machine readable code may be scanned. 602 represents the details of the machine readable code that is scanned by the user. 604 represents the sub-screen depicting the details of the machine readable scanned code of the article such as vehicle and insurance details 606, accident details 608, photos and videos details 610, and others 612. Further, 614 represents the help button which helps the user to connect with a service provider, 616 represents the quick contact links and 618 represents the contact us button.

[054] FIG. 9 is an example diagram 900 depicting the screen layout when photos and videos button 610 is selected, in accordance with one or more exemplary embodiments. Once the photos and videos button 610 is selected the corresponding photos and videos of the vehicle insurance salvage or the concerned insurance salvage is displayed on the first computing device 104 or the second computing device 106.

[055] In an embodiment, a system for verifying and tracking title of manufactured articles from insurance salvage is disclosed. The system 100 comprising: a first computing device 104 comprising a verification and tracking module 108 configured to establish communication with a second computing device 106, whereby the verification and tracking module 108 configured to enable the first computing device 104 to scan one or more machine readable codes on one or more manufactured articles to determine insurance salvage utilized, the verification and tracking module 108 configured to provide the insurance salvage related information of the one or more manufactured articles and then sends a plurality of real time communications to the first computing device 104 operated by a registered user.

[056] In an embodiment, the verification and tracking module 108 comprises a registration module 202 configured to register a user or a product on the first computing device 104 and the second computing device 106.

[057] In an embodiment, the verification and tracking module 108 comprises a product identification module 206 configured to identify an insurance salvage related information of the product.

[058] In an embodiment, the verification and tracking module 108 comprises a machine code readable module 204 configured to enable the first computing device 104 to scan the one or more machine readable codes on the one or more manufactured articles to determine the insurance salvage utilized.

[059] In an embodiment, the insurance salvage utilized to produce the one or more manufactured articles is selected from a vehicle salvage, an aviation salvage, a marine salvage, a rail salvage and combinations thereof.

[060] In an embodiment, a method for verifying and tracking of manufactured articles from insurance salvage is disclosed. The method comprising: registering a user or product in a registration module 202, the registration module 202 is configured to allow the registered user to create a login and search information regarding the product purchased; enabling the computing device to scan one or more machine readable codes on one or more manufactured articles to determine insurance salvage utilized; identifying an insurance salvage related information of the one or more machine readable codes on the first computing device 104; and storing and retrieving data related to the insurance salvage related information of the one or more manufactured articles from a verification and tracking module 108.

[061] In an embodiment, when a customer enters the code number of the product in the website the following details may be obtained namely: 1. Vehicle type 2. Place of accident (say at Hyderabad, Telangana) with coordinates like latitude and longitude 3. Photos (and video if any) of the vehicle that met with accident 4. FIR details of the accident 5. Whether the vehicle is insured or not 6. Number of Causalities due to accident 8. Vehicle number (MP XYXQ) 9. Name of the owner of the vehicle (Mr/Miss. XXXX) 10. How the accident might have occurred etc.

[062] In an embodiment, the method to track the manufactured articles from insured salvage is disclosed. The method with identifying the source of salvage whether Road/Rail/Air/ Marine etc. In the next step, collecting accident information by Police and Insurer. Police registers FIR and a claim are booked by the insurer. In the next step, investigating of the claim requirements by the insurer, claim requirements met and the insured is indemnified. In the next step, estimating total insured salvage cost and reimbursement in case of total loss (if any) belongs to the insurer is executed. In the next step, signing of multiple contractual agreements. M/s XYZ Company enters in to: (A) a general contract with insurers for salvaged property; (B) a general contract with salvage dealers for salvaged property; and (C) a contract with customers for insured salvaged property. In the next step, ttransferring of the insured salvage ownership rights to the M/s XYZ Company. This transfer entails access to property documents. In the succeeding step, capturing of photos and videos of insured salvage property as and where basis by the M/s XYZ Company is executed. In next step, unifying of the ownership details and insured salvage details by the M/s XYZ Company. The ownership details are like type of the property, location of the property etc. The insured salvage details are like location of the accident, cause of the accident, causality details, FIR details if any etc. In the next step, segregating of usable and non-usable insured salvage property, if required is done. In the next step, identifying of usable parts/materials such as plastic, metal, rubber etc. and sorting is performed. In the next step, disposing of residue parts/materials as per the law. In the next step, sizing insured salvage property into transportable pieces for transportation to nearest facility is performed. In the next step, producing products like key chains, Bracelets, Rings, Paper weights etc. from usable parts. In the next step, assigning an Automatic UIN (Unique Identification number) for the generated product is performed. In the next step, printing UIN on products is done. In the next step, identifying potential organization buyers (with and without CSR) (insurers & others) is done. In the next step, selling the products is done. In the next step, personalizing the product for the organization (wherever needed). In the next step, product packing and dispatching is completed. In the next step, distributing the products to the stakeholders by the clients is executed. In the next step, entering the End user & UIN details: User to enter UIN @ XYZ Company to know accident details with google map of the accident site. In the last step, reducing the accident occurrence by customer introspection of accident / safety protocols is accomplished.

[063] The present disclosure has been described in terms of certain preferred embodiments and illustrations thereof, other embodiments and modifications to preferred embodiments may be possible that are within the principles and spirit of the invention. The above descriptions and figures are therefore to be regarded as illustrative and not restrictive.

[064] Moreover, well known methods, procedures, and substances for both carrying out the objectives of the present invention and illustrating the preferred embodiment are incorporated herein but have not been described in detail as not to unnecessarily obscure novel aspects of the present invention.

[065] Thus the scope of the present disclosure is defined by the appended claims and includes both combinations and sub combinations of the various features described herein above as well as variations and modifications thereof, which would occur to persons skilled in the art upon reading the foregoing description.