System and Method for Analyzing Complex Insurance Policy Proposals
First Claim
1. A method for analyzing complex insurance policy proposals, comprising the steps of:
- engagement by a business with one or more agents prior to expiration of an existing policy;
obtaining competing bids from one or more agents;
entry into a relationship with one or more agents prior to expiration of an existing insurance contract to accept a proposal for their insurance needs;
appointments by one or more agents with one or more insurance companies;
filling out applications and providing underwriting data to said insurance companies by said agentsdetermination by insurance companies as to whether to underwrite based on whether the risk meets their guidelines;
if the risk meets their guidelines, providing a quote to said agent;
presenting the proposals to the business prior to expiration of an existing insurance policy by the broker or agent;
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Accused Products
Abstract
A system and method for providing businesses with comparative insurance proposal information. The present invention is embodied in an online software system that provides a home page for both agents and businesses and a business only page that provides additional information such as tips on saving money and purchasing insurance. A business first provides underwriting data to those wanting to provide quotes. The insurance agent or representative of the insurance company uploads the proposal(s) to the insurance valuator system via manual or electronic methods the proposed limits and coverage. An automated communication is then generated and sent to the business when the agent logs in and when it is complete. After the proposal information is uploaded, custom reports (based on sets of industry specific rules, guidelines or other criteria) can be generated and viewed or printed by the business.
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Citations
24 Claims
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1. A method for analyzing complex insurance policy proposals, comprising the steps of:
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engagement by a business with one or more agents prior to expiration of an existing policy; obtaining competing bids from one or more agents; entry into a relationship with one or more agents prior to expiration of an existing insurance contract to accept a proposal for their insurance needs; appointments by one or more agents with one or more insurance companies; filling out applications and providing underwriting data to said insurance companies by said agents determination by insurance companies as to whether to underwrite based on whether the risk meets their guidelines; if the risk meets their guidelines, providing a quote to said agent; presenting the proposals to the business prior to expiration of an existing insurance policy by the broker or agent; - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A system for analyzing complex insurance policy proposals comprising:
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a website server; a database providing means for the collection of underwriting and agent review of proposals with a business; said database also providing an insurance valuator website server; a multi-user network providing a plurality of agents insurance companies, and businesses access to said web server and database; means for enabling to enter their proposal information into the database by an agent, business or third party; and means for a business to provide underwriting data to those wanting to provide quotes. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24)
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Specification