Automatic insurance data extraction and quote generating system and methods therefor
First Claim
1. A method for automatically generating insurance quotes comprising:
- preparing insurance profiles including information for one or more clients seeking insurance coverage;
storing the insurance profiles in an electronic database at one or more agency locations;
extracting one or more of the stored insurance profiles from said electronic database;
translating the extracted insurance profiles into a format recognizable by one or more underwriters; and
electronically transmitting said insurance profiles to said underwriters, wherein said underwriters analyze the information in said insurance profiles for determining whether offers of insurance should be made to said one or more clients seeking insurance coverage.
1 Assignment
0 Petitions
Accused Products
Abstract
A method for automatically extracting data and generating insurance quotes includes preparing insurance profiles having risk information for one or more clients seeking insurance coverage, storing the insurance profiles in an electronic database at one or more agency locations, and extracting one or more of the stored insurance profiles from the electronic database. Information from the extracted insurance profiles is translated into a format recognizable by one or more underwriters for risk assessment. The translated information is electronically transmitted to one or more underwriters so that the underwriters can analyze the risk information for determining whether offers of insurance should be made to the clients seeking insurance coverage. The offers of insurance are electronically transmitted to the one or more agency locations in a proposal format presentable to the clients seeking insurance. The entire process requires that data be entered only once, thereby eliminating the time-consuming and error-enabling multiple steps involved in data re-entry at various levels.
-
Citations
34 Claims
-
1. A method for automatically generating insurance quotes comprising:
-
preparing insurance profiles including information for one or more clients seeking insurance coverage;
storing the insurance profiles in an electronic database at one or more agency locations;
extracting one or more of the stored insurance profiles from said electronic database;
translating the extracted insurance profiles into a format recognizable by one or more underwriters; and
electronically transmitting said insurance profiles to said underwriters, wherein said underwriters analyze the information in said insurance profiles for determining whether offers of insurance should be made to said one or more clients seeking insurance coverage. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 27, 28, 29, 30, 31, 32, 33, 34)
-
-
26. A system for generating insurance quotes comprising:
-
one or more agency computers for creating and storing insurance profiles for one or more clients seeking insurance coverage, wherein said one or more computers are in communication with an electronic database for storing the created insurance profiles;
one or more underwriter computers in communication with said one or more agency computers for receiving one or more of the insurance profiles, analyzing the received insurance profiles for assessing risk parameters associated with the one or more clients seeking insurance coverage, determining whether offers of insurance should be made to the one or more clients seeking insurance coverage, and electronically transmitting the offers of insurance to the agency computers; and
a central computer in bi-directional communication with both said agency computers and said underwriter computers for translating said insurance profiles into a format usable by said underwriter computers and said agency computers.
-
Specification