Selling insurance over a networked system
First Claim
Patent Images
1. A method of selling insurance coverage to a user over the Internet comprising:
- providing to the user a recommendation of insurance coverage from at least one insurance carrier by comparing profile information of the user with the underwriting rules of a plurality of insurance carriers;
receiving a selection of a risk carrier and a payment from the user;
producing a policy contract; and
notifying the selected risk carrier of the policy contract.
1 Assignment
0 Petitions
Accused Products
Abstract
Disclosed is an overall process for selling life insurance across a network. The process can include an automated determination of user requirements; electronic data exchange with external parties; an underwriting process; and issuance of a policy and payment collection.
133 Citations
40 Claims
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1. A method of selling insurance coverage to a user over the Internet comprising:
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providing to the user a recommendation of insurance coverage from at least one insurance carrier by comparing profile information of the user with the underwriting rules of a plurality of insurance carriers;
receiving a selection of a risk carrier and a payment from the user;
producing a policy contract; and
notifying the selected risk carrier of the policy contract. - View Dependent Claims (2, 3, 5, 6, 7, 8, 9, 10)
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4. The method of claim I wherein the user uses a web browser to view the insurance coverage recommendation.
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11. A method of providing life insurance coverage to a user, the method comprises:
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receiving a profile of a user over the Internet;
recommending to the user a policy based on needs of the user;
automatically obtaining information about the user from a party other than the user;
comparing profile information of the user with underwriting rules of a plurality of insurance carriers to determine pricing information for the policy from one or more of the insurance carriers;
notifying the user of the pricing information;
receiving a payment from the user for the selected insurance coverage; and
producing a policy contract. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
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22. A machine-based method comprising:
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automatically communicating a request across a network for information about a user purchasing life insurance from an external agency;
monitoring the network for a reply from the agency; and
triggering an alert if the reply is not obtained before a threshold time interval. - View Dependent Claims (23, 24, 25, 26, 27, 29, 30, 31)
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28. A server comprising a processor, memory, and a communication interface, wherein the communication interface can receive information from a plurality of client systems, a partner site, and an external agency, and the processor is configured to:
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receive profile information for a user from the interface;
store the profile information in the memory;
request additional information if the profile is not complete;
evaluate the profile using underwriting rules for a plurality of insurance carriers;
produce an electronic document for a life insurance policy for one of the insurance carriers; and
receive information for a payment for the policy from the user.
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32. An article of computer-readable medium for selling insurance coverage to a user over the Internet, the medium comprising instructions for causing a computer to:
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send to the user a recommendation of insurance coverage from at least one insurance carrier by comparing profile information of the user with the underwriting rules of a plurality of insurance carriers;
receive a selection of a risk carrier and a payment from the user;
produce a policy contract; and
notify the selected risk carrier of the policy contract.
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33. A server comprising a processor, memory, and a communication interface, wherein the communication interface can receive information from a plurality of client systems, a partner site, and an external agency, and the processor is configured to:
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send, to the user at a client system, a recommendation of insurance coverage from at least one insurance carrier by comparing profile information of the user with the underwriting rules of a plurality of insurance carriers;
receive a selection of a risk carrier and a payment from the user;
produce a policy contract; and
notify the selected risk carrier of the policy contract. - View Dependent Claims (35, 37, 39, 40)
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34. A method of displaying insurable risk having a value for a risk parameter comprising
producing a graph of a distribution function with a first axis being a density of the distribution and a second axis being a risk parameter; -
indicating a position defined by the value for the risk parameter on the graph; and
displaying the graph.
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36. A server comprising a processor, memory, and a communication interface, wherein the communication interface exchanges information with a client system across a network, and the processor is configured to:
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generate information that represents (1) a graph of a distribution function with a first axis being a density of the distribution and a second axis being a risk parameter for insuring a user for life insurance; and
(2) an indication of a position defined by the value for the risk parameter on the graph,and send the information to the client system.
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38. A server comprising a processor, memory, and a communication interface, wherein the communication interface exchanges information with a client system across a network, and the processor is configured to:
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receive a profile of a user from the client system; and
generate a recommendation for a life insurance policy wherein the level of coverage varies with user age and the policy is a function of one or more of;
age, income, savings, mortgage, dependents projected higher education costs for each dependent child of the user, self employment information, and current life insurance coverage.
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Specification