Delivery of customized insurance products and services

• US 10,282,785 B1
• Filed: 10/21/2011
• Issued: 05/07/2019
• Est. Priority Date: 11/19/2004
• Status: Active Grant

• Current Assignee: Allstate Insurance Company (Allstate Corporation)
• Original Assignee: Allstate Insurance Company (Allstate Corporation)
• Inventors: Yager, Floyd M., Wilson, Thomas J., Azar, Pablo, Biemer, Edward A., Frank, Jeremy, Pitchford, Mark David, Wasserman, Robert
• Primary Examiner(s): Chng, Joy
• Application Number:
  US13/278,432
• Time in Patent Office: 2,755 Days
• Field of Search: 705 2- 4
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Systems and methods provide customizable insurance according to consumer preferences and attributes. An enhanced attributes analysis server may analyze the attributes of a consumer and match these attributes with attributes of current customers of an entity managing the server. The insurance products/plans preferred by the matched customers may then be used to present insurance options to the consumer. In addition, the server may further customize insurance options based on answers to questions that relate to the consumer'"'"'s specific situation. Further still, the consumer'"'"'s social network may be used to understand insurance products/plans that may be preferred by the consumer.

Claims

1. A method comprising:

(a) receiving data from an insurance consumer at a server;

(b) searching at least one first database to retrieve additional information about the insurance consumer;

(c) using a processor, compiling the data with the additional information to determine a first plurality of attributes of the insurance consumer;

(d) accessing at least one second database storing information about a plurality of customers associated with a second plurality of attributes and a plurality of insurance features;

(e) using a processor, determining a plurality of features preferred by a subset of the plurality of customers, wherein the subset of the plurality of customers is based on at least one match between at least one of the first plurality of attributes associated with the insurance consumer and at least one of the second plurality of attributes associated with at least one of the plurality of customers;

(f) using a processor and based on the determination, presenting a description of how the at least one of the first plurality of attributes associated with the insurance consumer matches with the at least one of the second plurality of attributes associated with at least one of the plurality of customers and further presenting at least one of the plurality of insurance features preferred by the subset of the plurality of customers; and

(g) using a processor and based on receiving a selection from the insurance consumer, generating web analytics tags comprising performance data associated with the description.

2. The method of claim 1, wherein the data include a name, address, social security number, and driver'"'"'s license number associated with the insurance consumer.

3. The method of claim 1, wherein the at least one first database includes credit services databases, vehicle information databases, and demographics databases.

4. The method of claim 1, wherein the first plurality of attributes include age, gender, and marital status of the insurance consumer.

5. The method of claim 1, wherein the first plurality of attributes include model year, category, list price, ownership status, and use related to a vehicle operated by the insurance consumer.

6. The method of claim 1, further comprising:

using a processor, generating at least one question for the insurance consumer for display of trade-off insurance options.

7. The method of claim 6, wherein the trade-off insurance options are based on varying levels of cost and coverage.

8. The method of claim 6, further comprising:

using a processor, customizing the presentation based on answers to the at least one question.

9. The method of claim 1, further comprising:

accessing a social network of the insurance consumer.

10. The method of claim 1, wherein the processor in step (c) is the same as the processor in step (e).

11. A non-transitory computer-readable storage medium having computer-executable program instructions stored thereon that when executed by a processor, cause the processor to perform steps comprising:

(i) receiving identifying information from an insurance consumer;

(ii) based on the identifying information, accessing a first plurality of databases for additional information about the insurance consumer;

(iii) based on the identifying information and the additional information, determining a first plurality of attributes of the insurance consumer;

(iv) accessing a second plurality of databases storing information about a plurality of customers associated with a second plurality of attributes and a plurality of insurance features;

(v) determining a portion of the plurality of customers based on at least one of the second plurality of attributes matching the first plurality of attributes;

(vi) determining at least one preferred insurance feature of the plurality of insurance features associated with the portion of the plurality of customers;

(vii) presenting the at least one preferred insurance feature and a description of how the at least one of the second plurality of attributes matches the first plurality of attributes; and

(viii) generating, based on receiving a selection from the insurance consumer, web analytics tags comprising performance data associated with the at least one preferred insurance feature.

12. The non-transitory computer-readable storage medium of claim 11, wherein the processor further performs:

accessing a social network associated with the insurance consumer.

13. The non-transitory computer-readable storage medium of claim 12, wherein the presentation is further based on insurance products preferred by members of the social network.

14. The non-transitory computer-readable storage medium of claim 11, wherein the first plurality of attributes includes a life-phase scenario associated with the insurance consumer.

15. The non-transitory computer-readable storage medium of claim 14, wherein the life-phase scenario is chosen from the group consisting of:

college graduate, newly married, first child, retired, death in family, and death of spouse.

16. The non-transitory computer-readable storage medium of claim 11, wherein the at least one of the plurality of insurance features relates to more than one type of insurance.

17. The non-transitory computer-readable storage medium of claim 11, further comprising:

modifying the presentation based on answers to at least one question for determining a trade-off scenario for the insurance consumer.

18. An apparatus comprising:

a processor; and

a memory storing computer-readable instructions that, when executed by the processor, cause the apparatus at least to perform;

receiving data from an insurance consumer;

based on the received data, generating a plurality of questions to be answered by the insurance consumer;

receiving a plurality of answers to the plurality of questions;

determining a set of current customers that is similar to the insurance consumer based on the received data and the plurality of answers matching at least one answer provided by the set of current customers;

analyzing a plurality of insurance features preferred by the set of current customers;

based on the analysis, presenting at least one of the plurality of insurance features to the insurance consumer and a description of an association of the plurality of insurance features, the received data, and the plurality of answers matching the at least one answer provided by the set of current customers; and

generating, based on receiving a selection from the insurance consumer, web analytics tags comprising performance data associated with the at least one of the plurality of insurance features.

19. The apparatus of claim 18, wherein the plurality of questions relate to a level of risk tolerance preferred by the insurance consumer, value of assets that the insurance consumer seeks to protect, a willingness by the insurance consumer to pay more for a lower deductible, and a desire by the insurance consumer for predictable out-of-pocket expenses.

20. The apparatus of claim 18, wherein the processor further performs:

analyzing feedback received by the insurance consumer to modify the plurality of questions.

21. The apparatus of claim 18, wherein the set of the current customers has similar need states to the insurance consumer.