SYSTEM AND METHOD FOR RISK VALIDATION
First Claim
Patent Images
1. A computer-based system for risk validation, comprising:
- a server; and
at least one computer having at least one processor and at least one database,wherein the at least one database is in communication with the at least one processor and has specially-programmed instructions stored thereon that, when executed by the processor, perform the method comprising;
receiving, by the server, a request for an insurance policy covering at least one activity, wherein the at least one activity includes an operation of at least one vehicle;
determining a classification of a risk associated with the at least one activity;
generating the insurance policy based on the classification;
obtaining an identification number for the at least one vehicle;
determining a vehicle type of the at least one vehicle based on the identification number; and
validating the risk based on the vehicle type.
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Accused Products
Abstract
Systems and methods for validating the level of risk associated with an insurance policy are based on information intrinsic to one or more of the activities covered by the policy, such as a vehicle identification number of a vehicle operated in association with one or more of the activities. From the vehicle identification number, a vehicle type for a vehicle may be determined, and the vehicle type may be used to validate whether the level of risk associated with the policy is appropriate.
5 Citations
28 Claims
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1. A computer-based system for risk validation, comprising:
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a server; and at least one computer having at least one processor and at least one database, wherein the at least one database is in communication with the at least one processor and has specially-programmed instructions stored thereon that, when executed by the processor, perform the method comprising; receiving, by the server, a request for an insurance policy covering at least one activity, wherein the at least one activity includes an operation of at least one vehicle; determining a classification of a risk associated with the at least one activity; generating the insurance policy based on the classification; obtaining an identification number for the at least one vehicle; determining a vehicle type of the at least one vehicle based on the identification number; and validating the risk based on the vehicle type. - View Dependent Claims (2, 3, 4, 5)
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6. A computer-based method for validating a level of risk associated with an insurance policy comprising:
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receiving, by a computer comprising at least one processor, a request for the insurance policy from a customer, wherein the request identifies at least one activity to be covered by the insurance policy, and wherein the request includes information regarding at least one vehicle to be operated in association with the at least one activity; classifying, by the computer, the level of risk; obtaining, by the computer, a vehicle identification number for each of the at least one vehicles; determining, by the computer, a vehicle type for each of the at least one vehicles based on the vehicle identification number; and validating the level of risk based on at least one of the vehicle types. - View Dependent Claims (7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. A computer-implemented method for validating a level of risk associated with an insurance policy covering at least one activity comprising:
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receiving, by a computer comprising at least one processor, a request for the policy; classifying, by the computer, the level of risk; receiving, by the computer, at least one intrinsic identifier associated with the at least one activity over the network; and validating, by the computer, the level of risk based on the at least one intrinsic identifier. - View Dependent Claims (20, 21, 22, 23, 24, 25, 26, 27, 28)
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Specification