Systems and methods for insurance coverage
First Claim
Patent Images
1. An insurance method, comprising:
- providing a computer having an insurance processor;
receiving, by the insurance processor, transaction data pertaining to a purchase of a plurality of items made by a user in a single transaction with a financial card, the transaction data comprising a purchase amount of the purchase;
determining that the purchase amount of the purchase of the plurality of items made by the user in the single transaction exceeds a threshold purchase amount;
receiving, by the insurance processor, item data about each of the plurality of items;
determining based on the item data by the insurance processor, which of the items purchased in the single transaction are protectable under an insurance policy; and
insuring under the insurance policy the items that are protectable under the insurance policy, by the insurance processor.
1 Assignment
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Accused Products
Abstract
A user may use a financial card to make a purchase at a merchant. An institution system may receive and analyze transaction data associated with the purchase. The institution system may send a notice to the user asking if the user would like insurance coverage for the item(s) pertaining to the purchase. The notice may request the user send a photo of the item(s) or documentation pertaining to the item(s) to the institution system.
18 Citations
21 Claims
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1. An insurance method, comprising:
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providing a computer having an insurance processor; receiving, by the insurance processor, transaction data pertaining to a purchase of a plurality of items made by a user in a single transaction with a financial card, the transaction data comprising a purchase amount of the purchase; determining that the purchase amount of the purchase of the plurality of items made by the user in the single transaction exceeds a threshold purchase amount; receiving, by the insurance processor, item data about each of the plurality of items; determining based on the item data by the insurance processor, which of the items purchased in the single transaction are protectable under an insurance policy; and insuring under the insurance policy the items that are protectable under the insurance policy, by the insurance processor. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A computer-readable medium comprising computer-readable instructions for insurance, said computer-readable instructions comprising instructions that:
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receive transaction data pertaining to a purchase of a plurality of items made by a user in a single transaction with a financial card, the transaction data comprising a purchase amount of the purchase; determine that the purchase amount of the purchase of the items in the single transaction exceeds a threshold purchase amount; receive item data about each of the items; determine based on the item data, which of the items purchased in the single transaction are protectable under an insurance policy; and insure under the insurance policy the items that are protectable under the insurance policy. - View Dependent Claims (9, 10, 11, 12, 13, 14)
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15. An insurance system, comprising:
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at least one subsystem that receives transaction data pertaining to a purchase of a plurality of items made by a user in a single transaction with a financial card, the transaction data comprising a purchase amount of the purchase; at least one subsystem that determines that the purchase amount of the purchase of the items in the single transaction exceeds a threshold purchase amount; at least one subsystem that receives item data about each of the items; at least one subsystem that determines based on the item data, which of the items purchased in the single transaction are protectable under an insurance policy; and at least one subsystem that insures under the insurance policy the items that are protectable under the insurance policy. - View Dependent Claims (16, 17, 18, 19, 20, 21)
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Specification