Method of and system for financial services fulfilment
First Claim
1. A method for conducting a financial transaction, comprising:
- making an application for acquisition of a financial product that requires activation to become effective;
processing said application for approval; and
following approval of said application, activating said financial product to complete said financial transaction, wherein said steps of making, processing and activating are all conducted through a global communications network.
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Accused Products
Abstract
A method and system for conducting a financial transaction involving the acquisition of a financial product. The method according to one aspect of the invention comprises the steps of making an application for acquisition of a financial product that requires activation to become effective, processing the application for approval, and, following approval of the application, activating the financial product to complete the financial transaction, wherein the steps of making, processing and activating are all conducted through a global communications network. The present invention permits a financial product, such as a life insurance policy, to be applied for, the application processed for approval, and, if approved, substantially immediately activated to provide substantially immediate coverage to the applicant during a single Internet session.
8 Citations
20 Claims
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1. A method for conducting a financial transaction, comprising:
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making an application for acquisition of a financial product that requires activation to become effective;
processing said application for approval; and
following approval of said application, activating said financial product to complete said financial transaction, wherein said steps of making, processing and activating are all conducted through a global communications network. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A method for buying and selling an insurance policy, comprising:
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making an application to purchase said insurance policy;
processing said application for approval; and
following approval of said application, providing coverage under said insurance policy, wherein said steps of making, processing and providing coverage are all conducted through a global communications network. - View Dependent Claims (11, 12, 13, 14, 15, 17, 18, 19, 20)
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16. A system for conducting a financial transaction through a global communications network, comprising:
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a first interface for receiving an application from an applicant through the global communications network for acquisition of a financial product that requires activation to become effective;
a processor for processing said application for approval; and
if said application is approved, a second interface for routing application information to a provider of said financial product through the global communications network to obtain substantially immediate activation of said financial product by said provider.
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Specification