Multi-risk insurance system and method
First Claim
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1. A method for forming an insurance plan comprising the steps of:
- collecting data concerning multiple insurance coverages, including life, health, disability, major medical, critical illness, long term care and property and casualty;
collecting data about an individual or other risk to be insured;
inputting said data about the individual or other risk and the coverages into a data processing apparatus;
collecting regulatory requirements;
inputting said regulatory requirements into said data processing apparatus;
selecting three or more coverages to form a policy;
comparing said policy with said regulatory requirements; and
displaying the resulting policy.
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Abstract
A multi-risk insurance system and method are disclosed resulting in a single insurance policy with many coverages being included. These coverages include life, health, disability, major medical, critical illness, long-term care, automobile, homeowners, fire, theft, renters, personal liability, general liability and the like. The result for the insured is a savings in time and expense. The insurer lowers administrative costs, sales expenses and inefficiencies.
202 Citations
6 Claims
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1. A method for forming an insurance plan comprising the steps of:
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collecting data concerning multiple insurance coverages, including life, health, disability, major medical, critical illness, long term care and property and casualty;
collecting data about an individual or other risk to be insured;
inputting said data about the individual or other risk and the coverages into a data processing apparatus;
collecting regulatory requirements;
inputting said regulatory requirements into said data processing apparatus;
selecting three or more coverages to form a policy;
comparing said policy with said regulatory requirements; and
displaying the resulting policy. - View Dependent Claims (2)
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3. An insurance system comprising:
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a data processing apparatus having input means for receiving information and instructions;
said data processing apparatus having base product data and information concerning a prospective insured;
said data processing apparatus also having information concerning multiple insurance coverages including life, health, disability, major medical, critical illness, long term care and property and casualty;
a policy generated by said data processing apparatus based upon a selection of three or more of said insurance coverages; and
a display operatively connected to said data process apparatus for showing said policy generated by said data processing apparatus. - View Dependent Claims (4, 5, 6)
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Specification