Consumer-Centered Risk Analysis and Insurance Purchasing Systems and Methods

• US 20150006206A1
• Filed: 06/30/2014
• Published: 01/01/2015
• Est. Priority Date: 07/01/2013
• Status: Active Grant

• Current Assignee: Nader Mdeway
• Original Assignee: Nader Mdeway
• Inventors: Mdeway, Nader
• Granted Patent: US 9,996,881 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 10/0635 Risk analysis of enterprise or organisation activities
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Systems and methods are provided for insurance risk analysis, insurance policy comparisons, benchmarking, and purchasing. A consumer-focused interview may be used. Conversation-style user interviews may be used, and interviews may be augmented with cognitive techniques. Interview topics may include consumer lifestyle, activities, possessions, and objectives, and other information pertinent to insurable risks. A data import-export engine may be provided to import data from various insurance companies, departments of insurance or data warehouses. Entered, imported, and/or previously stored data may be used to produce one or more of a risk profile report, a risk analysis, a recommended coverage report, a policy download, a gap analysis report, a comparison report of multiple proposals from multiple insurance companies, a policy forms analysis, a policy forms analysis comparison, and/or a benchmark report. Apparatuses and method may include modules for accounting, marketing, communication, consumer and prospect tracking and documentation, and/or insurance and risk management education.

Claims

1. A risk and policy analysis, advisory, and insurance purchasing system comprising:

a user database for storing user data;

a default profile database comprising a plurality of default profiles and related data;

a data import-export system to electronically import or export data from and to a plurality of sources connected via a network, the data import-export system comprising;

an import-export engine electronically connected via a network to a plurality of sources;

an interview engine comprising a store of questions concerning risks and a cognitive logic processor configured to select and present questions from the store based on one or more answers to one or more previously presented questions from the store;

an analysis engine configured to evaluate answers to questions from the store, determine a risk profile based on the evaluation, select insurance provisions responsive to the risk profile, and present the results of the selection;

a plurality of internal databases and sources connected through a network; and

a plurality of external databases and sources connected through a network.

2. The system of claim 1 in which the interview and analysis engines are configured to determine the user'"'"'s risk profile, analyze the user'"'"'s risk, determine gaps in insurance coverage, recommend insurance coverage, enable users to purchase insurance policies, analyze policy forms, benchmark, and perform accounting, marketing, communicating, and educating functions, the system further comprising:

a user database;

a default user profile database;

a data import-export engine;

an internal warehouse database;

an external warehouse database;

a policy forms database;

a risk and insurance library database;

a benchmarking module;

a tracking and calendar module;

a communications module;

a marketing module; and

an accounting module.

3. The system of claim 1 in which the store of questions comprises a database.

4. The system of claim 1, wherein the plurality of import sources are associated with a user identified by using one or more personal identifying parameter, wherein comprising:

import-export engine;

an internal warehouse database;

an external warehouse database;

a policy forms database; and

a risk and insurance library database.

5. A data processing system configured for risk and policy analysis, gaps in insurance coverage determination, insurance coverage recommendation, insurance policy purchasing, policy forms analysis, and benchmarking comprising:

a data storage unit having stored therein questions concerning insurable risks and

a computer coupled to the data storage unit and configured to select and present questions stored in the data storage unit based on one or more answers to one or more previously presented questions stored in the data storage unit and to evaluate answers to questions stored in the data storage unit, determine a risk profile based on the evaluation and select insurance provisions responsive to the risk profile.

6. The data processing system of claim 5 in which:

the data storage unit further comprises

a user database;

a default user profile database;

a database containing the stored questions concerning insurable risks;

a data import-export engine;

an internal warehouse database;

an external warehouse database;

a policy forms database;

a risk and insurance library database;

a benchmarking module;

a tracking and calendar module;

a communications module;

a marketing module;

an accounting module; and

the computer is further configured to determine gaps in insurance coverage, recommend insurance coverage based on risk profile, compare and evaluate insurance policy form provisions, import or export user data, and benchmark coverages.

7. A risk and policy analysis, advisory, and insurance purchasing method comprising the steps of:

presenting interview questions selected from a database of questions based on one or more answers to one or more previously presented questions from the database;

evaluating answers to questions from the database;

determining a risk profile based on the evaluation of questions from the database;

selecting insurance provisions responsive to the risk profile; and

presenting the results of the selection.

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

accessing data from a user database;

using a default user profile;

accessing and selecting data from an internal warehouse database;

accessing and selecting data from an external warehouse database;

importing and exporting data from remote repositories;

transmitting data to a user;

accessing data from a policy forms database;

accessing information from a risk and insurance library database;

benchmarking proposed or existing insurance coverage;

tracking data changes and changes in insurance provisions;

scheduling future questions, evaluations, and risk profile determinations;

marketing to a user; and

accounting for user transactions.