Method, apparatus, and computer program product for obtaining coverage request authorizations

An apparatus comprising at least one processor and at least one memory including computer program code, the at least one memory and the computer program code configured to, with the processor, cause the apparatus to at least:

• receive a multiple payee coverage request to generate a coverage payment in accordance with a coverage plan;
• determine two or more payees based on the multiple payee coverage request;
• receive transaction data from at least one of the two or more payees and associate the transaction data with the multiple payee coverage request;
• determine a distribution vehicle for each payee based, at least in part, on the transaction data received;
• and
• cause the coverage payment to be distributed according to the respective distribution vehicles determined.

A computer program product comprising at least one non-transitory computer-readable storage medium having computer-executable program code portions stored therein, the computer-executable program code portions comprising program code instructions for:

• receiving a multiple payee coverage request to generate a coverage payment in accordance with a coverage plan;
• determining two or more payees based on the multiple payee coverage request;
• receiving transaction data from at least one of the two or more payees and associating the transaction data with the multiple payee coverage request;
• determining a distribution vehicle for each payee based, at least in part, on the transaction data received;
• and
• causing the coverage payment to be distributed according to the respective distribution vehicles determined.