System and method of providing pricing information
First Claim
1. A method of providing pricing information comprising the steps of:
- defining one or more assumptions;
receiving a first set of information;
receiving a second set of information; and
utilizing said assumptions, said first set of information, and said second set of information, estimating a price associated with one or more products.
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Accused Products
Abstract
The present invention provides a system and method capable of providing an estimated premium without extensive and repetitive questioning. The present invention utilizes unique assumptions to dramatically reduce the amount of information that must be provided by the customer. In one embodiment, the present invention utilizes a mainframe computer system, an application server, and an external rules management system to interact with the customer via an attractive graphic user interface. Once logged onto the website of the present invention, the customer may choose to engage in a fast quote process which utilizes assumptions, driver information, and vehicle information to assess the risk associated with insuring the customer and then calculates an estimated cost to insure.
75 Citations
25 Claims
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1. A method of providing pricing information comprising the steps of:
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defining one or more assumptions;
receiving a first set of information;
receiving a second set of information; and
utilizing said assumptions, said first set of information, and said second set of information, estimating a price associated with one or more products. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 22)
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19. A method of providing all-risk pricing information to members of an organization over a computer network comprising the steps of:
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providing quoting options comprising fast quote and detailed quote pricing options;
receiving a quote selection from a first member;
if said member selected said fast quote option, defining one or more assumptions applicable to at least a portion of said members of said organization, said assumptions comprising good credit, active driver'"'"'s license, no vehicle value over $80,000, vehicular usage limited to 12,000 miles for work/school, and/or all vehicles built according to applicable Federal and State regulations. receiving driver information from a first member comprising number of drivers, previous insurance coverage, driver identification, and driver history;
receiving vehicle information from said first member comprising vehicle location, number of vehicles, make &
model, and vehicle safety devices; and
utilizing said assumptions, said driver information, and said vehicle information, calculating an estimated price to insure said first member. - View Dependent Claims (20, 21)
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23. A computer system for providing pricing information comprising:
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a mainframe computer system having a storage device for storing electronic data, said mainframe having at least one rating engine and at least one underwriting engine;
an application server for presenting a graphic user interface upon a remote workstation, said server coupled to said mainframe; and
a computer network coupled to said server and said remote station. - View Dependent Claims (24, 25)
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Specification