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SYSTEM AND METHOD FOR ADMINISTERING BUSINESS INSURANCE TRANSACTIONS USING CROWD SOURCED PURCHASING AND RISK DATA

  • US 20140372150A1
  • Filed: 06/14/2013
  • Published: 12/18/2014
  • Est. Priority Date: 06/14/2013
  • Status: Abandoned Application
First Claim
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1. A system for recommending products and coverages for business insurance utilizing crowd sourced data, the system comprising:

  • at least one processor;

    a memory coupled to the at least one processor;

    and one or more programs, wherein the one or more programs are stored in the memory and configured to be executed by the at least one processor, the one or more programs including instructions for;

    receiving business specific information and risk concern information from a requesting user;

    supplementing the business specific information from at least one of a location based information service and a business information website;

    performing analysis of crowd sourced data with similar business specific information and risk concern information as the requesting user, wherein the crowd sourced data includes current and historical crowd sourced data;

    selecting, based on the analysis, one or more coverages for the requesting user; and

    providing a tiered display of recommended coverages to the requesting user.

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