SYSTEM AND METHOD FOR DYNAMIC PRICING OF AN INSURANCE POLICY

• US 20120116822A1
• Filed: 04/04/2011
• Published: 05/10/2012
• Est. Priority Date: 11/10/2010
• Status: Abandoned Application

• Current Assignee: eBay Inc.
• Original Assignee: eBay Inc.
• Inventors: Vasavada, Maulin, Muppirala, Prakash, Jayapal, Mohan, Narang, Sanjay
• Application Number:
  US13/079,584
• Publication Number:
  US 20120116822A1
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 10/083 Shipping
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A storage device stores a profile of a seller of an electronic marketplace. An insurance pricing generator module computes a shipping insurance rate for the seller based on the profile of the seller. The shipping insurance rate for the seller is computed based on the insurance coverage selected by the seller. The profile of the seller has an electronic marketplace profile of the seller and an insurance profile of the seller. A record of the shipping insurance elected by a seller eligible to purchase the shipping insurance at the shipping insurance rate for an item to be shipped to a buyer is maintained. A claim and complaint module receives a complaint from the buyer and a claim from the seller. A claim processing module processes the claim from the seller based on the corresponding complaint from the buyer.

Claims

1. A system, comprising:

a storage device comprising a profile of a seller of an electronic marketplace; and

a processor-implemented insurance pricing generator module configured to compute a shipping insurance rate for the seller based on the profile of the seller.

2. The system of claim 1 wherein the shipping insurance rate for the seller is computed based on the insurance coverage selected by the seller.

3. The system of claim 1 wherein the profile of the seller comprises an electronic marketplace profile of the seller and an insurance profile of the seller.

4. The system of claim 3 wherein the electronic marketplace profile of the seller comprises a volume of transactions on the electronic marketplace from the seller and a reputation of the seller.

5. The system of claim 3 wherein the insurance profile of the seller comprises a number of claims previously filed by the seller and a status of the claims previously filed by the seller.

6. The system of claim 1 further comprising:

a processor-implemented seller shipping insurance module configured to maintain a record of a shipping insurance elected by a seller eligible to purchase the shipping insurance for an item to be shipped to a buyer;

a processor-implemented claim and complaint module configured to receive a complaint from the buyer for receiving the item damaged or not receiving the item, and a claim from the seller based on the shipping insurance; and

a processor-implemented claim processing module configured to process the claim from the seller based on the corresponding complaint from the buyer.

7. The system of claim 6 wherein the processor-implemented seller shipping insurance module comprises a seller shipping insurance eligibility module configured to determine whether the seller is eligible to purchase the shipping insurance based on at least a record of the seller, an address from which the item is to be shipped, and an address to which the item is to be shipped;

a shipping label module configured to provide a shipping label that incorporates information identifying the shipping insurance; and

a policy generating module configured to issue an insurance policy for the shipping insurance,

wherein the claim and complaint module comprises a seller claim module configured to receive the claim from the seller based on the shipping insurance; and

a buyer complaint module configured to receive the complaint from the buyer based on the item,

wherein the claim processing module comprises a claim and complaint verification module configured to correlate the claim from the seller with the complaint from the buyer for the shipped item;

a fraud detection module configured to determine a fraudulent activity from the buyer or the seller related to the shipped item; and

a claim approval and rejection module configured to approve or deny the claim from the seller based on results from the claim and complaint verification module and the fraud detection module.

8. A computer-implemented method comprising:

storing a profile of a seller of an electronic marketplace in a storage device; and

computing, with a processor-implemented insurance pricing generator module, a shipping insurance rate for the seller based on the profile of the seller.

9. The computer-implemented method of claim 8 further comprising:

receiving a selection of an insurance coverage from the seller; and

computing the shipping insurance rate for the seller based on the selected insurance coverage.

10. The computer-implemented method of claim 8 wherein the profile of the seller comprises an electronic marketplace profile of the seller and an insurance profile of the seller.

11. The computer-implemented method of claim 10 wherein the electronic marketplace profile of the seller comprises a volume of transactions on the electronic marketplace from the seller and a reputation of the seller.

12. The computer-implemented method of claim 10 wherein the insurance profile of the seller comprises a number of claims previously filed by the seller and a status of the claims previously filed by the seller.

13. The computer-implemented method of claim 8 further comprising:

maintaining a record of a shipping insurance elected by a seller eligible to purchase the shipping insurance at the computed shipping insurance rate for an item to be shipped to a buyer;

receiving a complaint from the buyer for receiving the item damaged or not receiving the item, and a claim from the seller based on the shipping insurance; and

processing the claim from the seller based on the corresponding complaint from the buyer.

14. The computer-implemented method of claim 13 wherein maintaining further comprises determining whether the seller is eligible to purchase the shipping insurance based on at least a record of the seller, an address from which the item is to be shipped, and an address to which the item is to be shipped;

providing a shipping label that incorporates information identifying the shipping insurance; and

issuing an insurance policy for the shipping insurance,

wherein receiving further comprises receiving the claim from the seller based on the shipping insurance;

receiving the complaint from the buyer based on the item,

wherein processing further comprises correlating the claim from the seller with the complaint from the buyer for the shipped item;

determining a fraudulent activity from the buyer or the seller related to the shipped item; and

approving or denying the claim from the seller based the correlating and the determining.

15. A non-transitory computer-readable storage medium storing a set of instructions that, when executed by a processor, cause the processor to perform operations, comprising:

storing a profile of a seller of an electronic marketplace in a storage device; and

computing, with a processor-implemented insurance pricing generator module, a shipping insurance rate for the seller based on the profile of the seller.

16. The non-transitory computer-readable storage medium of claim 15 further comprising:

receiving a selection of an insurance coverage from the seller; and

computing the shipping insurance rate for the seller based on the selected insurance coverage.

17. The non-transitory computer-readable storage medium of claim 15 wherein the profile of the seller comprises an electronic marketplace profile of the seller and an insurance profile of the seller.

18. The non-transitory computer-readable storage medium of claim 17 wherein the electronic marketplace profile of the seller comprises a volume of transactions on the electronic marketplace from the seller and a reputation of the seller.

19. The non-transitory computer-readable storage medium of claim 17 wherein the insurance profile of the seller comprises a number of claims previously filed by the seller and a status of the claims previously filed by the seller.

20. The non-transitory computer-readable storage medium of claim 15 further comprising:

maintaining a record of a shipping insurance elected by a seller eligible to purchase the shipping insurance at the computed shipping insurance rate for an item to be shipped to a buyer;

receiving a complaint from the buyer for receiving the item damaged or not receiving the item, and a claim from the seller based on the shipping insurance; and

processing the claim from the seller based on the corresponding complaint from the buyer.

21. The non-transitory computer-readable storage medium of claim 20 wherein maintaining further comprises determining whether the seller is eligible to purchase the shipping insurance based on at least a record of the seller, an address from which the item is to be shipped, and an address to which the item is to be shipped;

providing a shipping label that incorporates information identifying the shipping insurance; and

issuing an insurance policy for the shipping insurance, wherein receiving further comprises receiving the claim from the seller based on the shipping insurance;

receiving the complaint from the buyer based on the item,

wherein processing further comprises correlating the claim from the seller with the complaint from the buyer for the shipped item;

determining a fraudulent activity from the buyer or the seller related to the shipped item; and

approving or denying the claim from the seller based the correlating and the determining.