Systems and methods for insurance coverage

• US 7,765,118 B1
• Filed: 10/17/2008
• Issued: 07/27/2010
• Est. Priority Date: 06/25/2008
• Status: Active Grant

• Current Assignee: United Services Automobile Association
• Original Assignee: United Services Automobile Association
• Inventors: Bohanek, Robert Michael
• Primary Examiner(s): Koppikar; Vivek D
• Application Number:
  US12/253,611
• Time in Patent Office: 648 Days
• Field of Search: 705 2- 4, 705/14.72, 705/27, 705/29
• US Class Current: 705/4
• CPC Class Codes: G06Q 10/0875 Itemisation or classification of parts, supplies or services, e.g. bill of materials
• CPC Class Codes: G06Q 30/0276 Advertisement creation
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G06Q 40/08 Insurance

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.

Claims

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.

2. The method of claim 1, further comprising requesting the item data responsive to receiving the transaction data.

3. The method of claim 2, further comprising analyzing the transaction data with respect to at least one predetermined criterion, and only requesting the item data if the at least one predetermined criterion is met.

4. The method of claim 1, further comprising requesting the item data from the user.

5. The method of claim 1, further comprising requesting the item data from a merchant associated with the purchase.

6. The method of claim 1, wherein the insurance policy is a homeowner'"'"'s policy of the user.

7. The method of claim 1, wherein insuring the items comprises adding the items to an existing insurance policy of the user.

8. A computer-readable medium comprising computer-readable instructions for insurance, said computer-readable instructions comprising instructions that:

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.

9. The computer-readable medium of claim 8, further comprising instructions that request the item data responsive to receiving the transaction data.

10. The computer-readable medium of claim 9, further comprising instructions that analyze the transaction data with respect to at least one predetermined criterion, and only request the item data if the at least one predetermined criterion is met.

11. The computer-readable medium of claim 8, further comprising instructions that request the item data from the user.

12. The computer-readable medium of claim 8, further comprising instructions that request the item data from a merchant associated with the purchase.

13. The computer-readable medium of claim 8, wherein the insurance policy is a homeowner'"'"'s policy of the user.

14. The computer-readable medium of claim 8, wherein the instructions that insure the items comprise instructions that add the items to an existing insurance policy of the user.

15. An insurance system, comprising:

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.

16. The system of claim 15, further comprising at least one subsystem that requests the item data responsive to receiving the transaction data.

17. The system of claim 16, further comprising at least one subsystem that analyzes the transaction data with respect to at least one predetermined criterion, and only requests the item data if the at least one predetermined criterion is met.

18. The system of claim 15, further comprising at least one subsystem that requests the item data from the user.

19. The system of claim 15, further comprising at least one subsystem that requests the item data from a merchant associated with the purchase.

20. The system of claim 15, wherein the insurance policy is a homeowner'"'"'s policy of the user.

21. The system of claim 15, wherein the at least one subsystem that insures the items comprises at least one subsystem that adds the items to an existing insurance policy of the user.