System for automated insurance underwriting

• US 20070185743A1
• Filed: 02/23/2007
• Published: 08/09/2007
• Est. Priority Date: 11/09/2000
• Status: Abandoned Application

• Current Assignee: Jill Jinks
• Original Assignee: Jill Jinks
• Inventors: Jinks, Jill
• Application Number:
  US11/710,252
• Publication Number:
  US 20070185743A1
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

There is disclosed a system that enables an efficient and flexible way to provide automated rating and underwriting based on a specific set of rules. The system includes a software running on a centralized or distributed computing system and accessing different databases. The software system can be access by insurance carriers and their agents located in one single location or distributed geographically.

Claims

1. A system for improving insurance quoting and underwriting, the system interfacing with a remote server, the system comprising:

a policy administration module for implementing core policies and client customization and outputting a client policy;

a billing module for generating a bill to each client according to the client policy;

a claims module for processing claims according to core claims features, the claims module further being capable of customizing according to each individual client policy; and

an interface module for sending and receiving information from the remote server.

2. The system of claim 1, further comprising a reinsurance module for implementing reinsurance.

3. The system of claim 1, wherein the policy administration module further being capable of providing automated rating.

4. The system of claim 3, wherein the policy administration module further being capable of displaying rating information to a user.

5. The system of claim 1, wherein the billing module further being capable of agency billing, direct billing, and account billing.

6. The system of claim 1, wherein the claims module further being capable of litigation tracking.

7. A method for improving insurance quoting and underwriting, the method comprising the steps of:

receiving customer information;

customizing customer information according to core policies;

outputting a client policy; and

generating a bill according to the client policy.

8. The method of claim 7, further comprising the steps of:

Transmitting customer information to a remote server; and

retrieving a quote information from the remote server.

9. The method of claim 7, further comprising the steps of:

generating a rating information; and

displaying the rating information.

10. The method of claim 7, wherein the step of generating a bill further comprising the steps of:

generating an agency bill;

generating a direct bill; and

generating an account bill.