Insurance incentive program for promoting the purchase or release of an automobile after an expiration of a lease
First Claim
Patent Images
1. A processor-implemented method for encouraging the purchase or re-leasing of an item after an expiration of a lease, comprising:
- identifying via a processor a lease on an item that corresponds to an electronically stored record, the lease having an approaching expiration date;
identifying a customer corresponding to the lease; and
offering the customer a paid insurance policy in exchange for purchasing or re-leasing the item after the expiration date.
7 Assignments
0 Petitions
Accused Products
Abstract
A lessee of an item, such as an automobile, is encouraged to either purchase the automobile at the expiration of the lease, or to initiate a new lease for the same item. If the lessee undertakes a purchase or a new lease, a manufacturer of the item, or another party, provides insurance covering the item. The methods disclosed herein may be performed over a computer network, such as the Internet.
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Citations
78 Claims
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1. A processor-implemented method for encouraging the purchase or re-leasing of an item after an expiration of a lease, comprising:
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identifying via a processor a lease on an item that corresponds to an electronically stored record, the lease having an approaching expiration date; identifying a customer corresponding to the lease; and offering the customer a paid insurance policy in exchange for purchasing or re-leasing the item after the expiration date. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A processor-implemented method for encouraging the purchase or re-leasing of an item after an expiration of a lease, comprising:
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identifying via a processor a customer record electronically stored having a lease on an item, the lease having an approaching expiration date; calculating a difference between an actual residual value and a projected residual value of the item; and determining a term for an insurance policy, the insurance policy having an insurance premium at most equal to the difference; and if the customer purchases or re-leases the item at the expiration of the lease, paying the insurance premium on behalf of the customer for the term of the insurance policy. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30)
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31. An apparatus for encouraging a purchase of an item after an expiration of a lease for the item, comprising:
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means for identifying a lease on an item, the lease having an approaching expiration date; means for identifying a customer corresponding to the lease; and means for offering the customer an insurance policy for the item in exchange for purchasing the item after the expiration date.
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32. An apparatus for encouraging a purchase of an item after an expiration of a lease for the item, comprising:
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a processor; and a memory in communication with the processor, the memory for storing a plurality of processing instructions enabling the processor to; identify a lease on an item, the lease having an approaching expiration date; identify a customer corresponding to the lease; and provide an offer to the customer for an insurance policy for the item in exchange for purchasing the item after the expiration date.
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33. A computer-readable medium encoded with processing instructions for implementing a method, performed by a computer, for encouraging a purchase of an item after an expiration of a lease for the item, the method comprising:
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identifying a lease on an item, the lease having an approaching expiration date; identifying a customer corresponding to the lease; and offering the customer an insurance policy for the item in exchange for purchasing the item after the expiration date.
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34. An apparatus for encouraging the purchase of an item after an expiration of a lease for the item, comprising:
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means for identifying a customer having a lease on an item, the lease having an approaching expiration date; means for calculating a difference between an actual residual value and a projected residual value of the item; means for determining a term for an insurance policy, the insurance policy having an insurance premium at most equal to the difference; and means for paying at least a portion of the insurance premium on behalf of the customer for the term of the insurance policy, if the customer purchases the item at the expiration of the lease.
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35. An apparatus for encouraging the purchase of an item after an expiration of a lease for the item, comprising:
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a processor; and a memory in communication with the processor, the memory for storing a plurality of processing instructions enabling the processor to; identify a customer having a lease on an item, the lease having an approaching expiration date; calculate a difference between an actual residual value and a projected residual value of the item; determine a term for an insurance policy, the insurance policy having an insurance premium at most equal to the difference; and pay at least a portion of the insurance premium on behalf of the customer for the term of the insurance policy, if the customer purchases the item at the expiration of the lease.
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36. A computer-readable medium encoded with processing instructions for implementing a method, performed by a computer, for encouraging the purchase of an item after an expiration of a lease for the item, the method comprising:
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identifying a customer having a lease on an item, the lease having an approaching expiration date; calculating a difference between an actual residual value and a projected residual value of the item; determining a term for an insurance policy, the insurance policy having an insurance premium at most equal to the difference; and if the customer purchases the item at the expiration of the lease, paying at least a portion the insurance premium on behalf of the customer for the term of the insurance policy.
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37. A processor-implemented method for encouraging a customer to enter into a new lease of an item after an expiration of a lease for the item, comprising:
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identifying via a processor a customer having a lease on an item, the lease having an approaching expiration date; calculating a difference between an actual residual value and a projected residual value of the item; determining a term for an insurance policy, the insurance policy having an insurance premium at most equal to the difference; and if the customer enters into a new lease for the item at the expiration of the lease, paying at least a portion of the insurance premium on behalf of the customer for the term of the insurance policy. - View Dependent Claims (38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51)
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52. An apparatus for encouraging a customer to enter into a new lease of an item after an expiration of a lease for the item, comprising:
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means for identifying a customer having a lease on an item, the lease having an approaching expiration date; means for calculating a difference between an actual residual value and a projected residual value of the item; means for determining a term for an insurance policy, the insurance policy having an insurance premium at most equal to the difference; and means for paying at least a portion of the insurance premium on behalf of the customer for the term of the insurance policy, if the customer enters into a new lease for the item at the expiration of the lease.
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53. An apparatus for encouraging a customer to enter into a new lease of an item after an expiration of a lease for the item, comprising:
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a processor; and a memory in communication with the processor, the memory for storing a plurality of processing instructions enabling the processor to; identify a customer having a lease on an item, the lease having an approaching expiration date; calculate a difference between an actual residual value and a projected residual value of the item; determine a term for an insurance policy, the insurance policy having an insurance premium at most equal to the difference; and pay at least a portion of the insurance premium on behalf of the customer for the term of the insurance policy, if the customer enters into a new lease for the item at the expiration of the lease.
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54. A computer-readable medium encoded with processing instructions for implementing a method, performed by a computer, for encouraging a customer to enter into a new lease of an item after an expiration of a lease for the item, the method comprising:
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identifying a customer having a lease on an item, the lease having an approaching expiration date; calculating a difference between an actual residual value and a projected residual value of the item; determining a term for an insurance policy, the insurance policy having an insurance premium at most equal to the difference; and if the customer enters into a new lease for the item at the expiration of the lease, paying at least a portion of the insurance premium on behalf of the customer for the term of the insurance policy.
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55. A method operable on a computer for providing an incentive incident to the purchase or re-lease of an automobile, comprising the steps of:
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identifying via a processor a plurality of automobile models for which it is desired to provide an incentive to encourage the sale or re-lease of said plurality of automobile models; identifying a plurality of leased automobiles, each of said leased automobiles comprising one of said plurality of automobile models, each of said plurality of leased automobiles owned by a respective lessee, each of said plurality of leased automobiles scheduled to come off lease on an approaching expiration date; initiating to the lessee of each of said plurality of leased automobiles an offer to pay at least a portion of an insurance premium for an automobile insurance policy covering said current lessee for the currently leased automobile if the lessee purchases or releases the currently leased automobile upon the expiration date; paying, upon the purchase or re-lease of at least one of said plurality of leased automobiles by a current lessee, at least a portion of the cost of the automobile insurance policy covering said current lessee for the purchased or re-leased automobile; and initiating the issuance of said automobile insurance policy covering said current lessee covering said current lessee for the purchased or re-leased automobile. - View Dependent Claims (56, 57, 58, 59, 60, 61)
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62. A processor-implemented method for providing an incentive incident to the purchase or re-lease of an automobile, comprising:
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identifying via a processor a plurality of automobile models for which it is desired to provide an incentive to encourage the sale or re-lease of said plurality of automobile models; identifying a plurality of leased automobiles, each of said leased automobiles comprising one of said plurality of automobile models, each of said plurality of leased automobiles owned by a respective lessee, each of said plurality of leased automobiles scheduled to come off lease on an approaching expiration date; initiating to the lessee of each of said plurality of leased automobiles an offer to pay at least a portion of an insurance premium for an automobile insurance policy covering said current lessee for the currently leased automobile if the lessee purchases or releases the currently leased automobile upon the expiration date; paying, upon the purchase or re-lease of at least one of said plurality of leased automobiles by a current lessee, at least a portion of the cost of the automobile insurance policy covering said current lessee for the purchased or re-leased automobile; and initiating the issuance of said automobile insurance policy covering said current lessee covering said current lessee for the purchased or re-leased automobile.
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63. An apparatus operable on a computer for providing an incentive incident to the purchase or re-lease of an automobile, comprising:
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means for identifying a plurality of automobile models for which it is desired to provide an incentive to encourage the sale or re-lease of said plurality of automobile models; means for identifying a plurality of leased automobiles, each of said leased automobiles comprising one of said plurality of automobile models, each of said plurality of leased automobiles owned by a respective lessee, each of said plurality of leased automobiles scheduled to come off lease on an approaching expiration date; means for initiating to the lessee of each of said plurality of leased automobiles an offer to pay at least a portion of an insurance premium for an automobile insurance policy covering said current lessee for the currently leased automobile if the lessee purchases or re-leases the currently leased automobile upon the expiration date; means for paying, upon the purchase or re-lease of at least one of said plurality of leased automobiles by a current lessee, at least a portion of the cost of the automobile insurance policy covering said current lessee for the purchased or re-leased automobile; and means for initiating the issuance of said automobile insurance policy covering said current lessee covering said current lessee for the purchased or re-leased automobile.
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64. A computer-readable medium encoded with processing instructions for implementing a method operable on a computer for providing an incentive incident to the purchase or re-lease of an automobile, the method comprising:
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identifying a plurality of automobile models for which it is desired to provide an incentive to encourage the sale or re-lease of said plurality of automobile models; identifying a plurality of leased automobiles, each of said leased automobiles comprising one of said plurality of automobile models, each of said plurality of leased automobiles owned by a respective lessee, each of said plurality of leased automobiles scheduled to come off lease on an approaching expiration date; initiating to the lessee of each of said plurality of leased automobiles an offer to pay at least a portion of an insurance premium for an automobile insurance policy covering said current lessee for the currently leased automobile if the lessee purchases or releases the currently leased automobile upon the expiration date; paying, upon the purchase or re-lease of at least one of said plurality of leased automobiles by a current lessee, at least a portion of the cost of the automobile insurance policy covering said current lessee for the purchased or re-leased automobile; and initiating the issuance of said automobile insurance policy covering said current lessee covering said current lessee for the purchased or re-leased automobile.
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65. An apparatus for providing an incentive incident to the purchase or re-lease of an automobile, comprising:
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a processor; and a memory in communication with the processor, the memory for storing a plurality of processing instructions directing the processor to; identify a plurality of automobile models for which it is desired to provide an incentive to encourage the sale or re-lease of said plurality of automobile models; identify a plurality of leased automobiles, each of said leased automobiles comprising one of said plurality of automobile models, each of said plurality of leased automobiles owned by a respective lessee, each of said plurality of leased automobiles scheduled to come off lease on an approaching expiration date; initiate to the lessee of each of said plurality of leased automobiles an offer to pay at least a portion of an insurance premium for an automobile insurance policy covering said current lessee for the currently leased automobile if the lessee purchases or releases the currently leased automobile upon the expiration date; pay, upon the purchase or re-lease of at least one of said plurality of leased automobiles by a current lessee, at least a portion of the cost of the automobile insurance policy covering said current lessee for the purchased or re-leased automobile; and initiate the issuance of said automobile insurance policy covering said current lessee covering said current lessee for the purchased or re-leased automobile.
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66. A method operable on a computer for providing an incentive incident to the purchase or re-lease of an automobile, comprising the steps of:
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identifying via a processor a plurality of automobile models for which it is desired to provide an incentive to encourage the sale or re-lease of said plurality of automobile models; identifying at least one selected geographic region wherein it is desired to provide said incentive; identifying a plurality of leased automobiles, each of said leased automobiles comprising one of said plurality of automobile models, each of said plurality of leased automobiles owned by a respective lessee in said at least one selected geographic region, each of said plurality of leased automobiles scheduled to come off lease on an approaching expiration date; calculating for each of said plurality of leased automobiles a difference value comprising the difference between a projected residual value at the initiation of the lease and an actual residual value at the expiration date of the lease; selecting for each of said plurality of leased automobiles an insurance policy covering the current lessee for the currently leased automobile having a premium less than said difference value; initiating to the lessee of each of said plurality of leased automobiles an offer to pay at least a portion of the insurance premium for the selected insurance policy if the lessee purchases or re-leases the currently leased automobile upon the expiration date; paying, upon the purchase or re-lease of at least one of said plurality of leased automobiles by a current lessee, at least a portion of the cost of the automobile insurance policy covering said current lessee for the purchased or re-leased automobile; and initiating the issuance of said automobile insurance policy covering said current lessee covering said current lessee for the purchased or re-leased automobile. - View Dependent Claims (67, 68, 69, 70)
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71. A processor-implemented method for providing an incentive incident to the purchase or re-lease of an automobile, comprising the steps of:
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identifying via a processor a plurality of automobile models for which it is desired to provide an incentive to encourage the sale or re-lease of said plurality of automobile models; identifying at least one selected geographic region wherein it is desired to provide said incentive; identifying a plurality of leased automobiles, each of said leased automobiles comprising one of said plurality of automobile models, each of said plurality of leased automobiles owned by a respective lessee in said at least one selected geographic region, each of said plurality of leased automobiles scheduled to come off lease on an approaching expiration date; calculating for each of said plurality of leased automobiles a difference value comprising the difference between a projected residual value at the initiation of the lease and an actual residual value at the expiration date of the lease; selecting for each of said plurality of leased automobiles an insurance policy covering the current lessee for the currently leased automobile having a premium less than said difference value; initiating to the lessee of each of said plurality of leased automobiles an offer to pay at least a portion of the insurance premium for the selected insurance policy if the lessee purchases or re-leases the currently leased automobile upon the expiration date; paying, upon the purchase or re-lease of at least one of said plurality of leased automobiles by a current lessee, at least a portion of the cost of the automobile insurance policy covering said current lessee for the purchased or re-leased automobile; and initiating the issuance of said automobile insurance policy covering said current lessee covering said current lessee for the purchased or re-leased automobile.
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72. A computer-readable medium encoded with processing instructions for implementing a method operable on a computer for providing an incentive incident to the purchase or re-lease of an automobile, the method comprising:
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identifying a plurality of automobile models for which it is desired to provide an incentive to encourage the sale or re-lease of said plurality of automobile models; identifying at least one selected geographic region wherein it is desired to provide said incentive; identifying a plurality of leased automobiles, each of said leased automobiles comprising one of said plurality of automobile models, each of said plurality of leased automobiles owned by a respective lessee in said at least one selected geographic region, each of said plurality of leased automobiles scheduled to come off lease on an approaching expiration date; calculating for each of said plurality of leased automobiles a difference value comprising the difference between a projected residual value at the initiation of the lease and an actual residual value at the expiration date of the lease; selecting for each of said plurality of leased automobiles an insurance policy covering the current lessee for the currently leased automobile having a premium less than said difference value; initiating to the lessee of each of said plurality of leased automobiles an offer to pay at least a portion of the insurance premium for the selected insurance policy if the lessee purchases or re-leases the currently leased automobile upon the expiration date; paying, upon the purchase or re-lease of at least one of said plurality of leased automobiles by a current lessee, at least a portion of the cost of the automobile insurance policy covering said current lessee for the purchased or re-leased automobile; and initiating the issuance of said automobile insurance policy covering said current lessee covering said current lessee for the purchased or re-leased automobile.
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73. An apparatus for providing an incentive incident to the purchase or re-lease of an automobile, comprising:
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means for identifying a plurality of automobile models for which it is desired to provide an incentive to encourage the sale or re-lease of said plurality of automobile models; means for identifying at least one selected geographic region wherein it is desired to provide said incentive; means for identifying a plurality of leased automobiles, each of said leased automobiles comprising one of said plurality of automobile models, each of said plurality of leased automobiles owned by a respective lessee in said at least one selected geographic region, each of said plurality of leased automobiles scheduled to come off lease on an approaching expiration date; means for calculating for each of said plurality of leased automobiles a difference value comprising the difference between a projected residual value at the initiation of the lease and an actual residual value at the expiration date of the lease; means for selecting for each of said plurality of leased automobiles an insurance policy covering the current lessee for the currently leased automobile having a premium less than said difference value; means for initiating to the lessee of each of said plurality of leased automobiles an offer to pay at least a portion of the insurance premium for the selected insurance policy if the lessee purchases or re-leases the currently leased automobile upon the expiration date; means for paying, upon the purchase or re-lease of at least one of said plurality of leased automobiles by a current lessee, at least a portion of the cost of the automobile insurance policy covering said current lessee for the purchased or re-leased automobile; and means for initiating the issuance of said automobile insurance policy covering said current lessee covering said current lessee for the purchased or re-leased automobile.
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74. An apparatus for providing an incentive incident to the purchase or release of an automobile, comprising:
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a processor; and a memory in communication with the processor, the memory for storing a plurality of processing instructions for directing the processor to; identify a plurality of automobile models for which it is desired to provide an incentive to encourage the sale or re-lease of said plurality of automobile models; identify at least one selected geographic region wherein it is desired to provide said incentive; identify a plurality of leased automobiles, each of said leased automobiles comprising one of said plurality of automobile models, each of said plurality of leased automobiles owned by a respective lessee in said at least one selected geographic region, each of said plurality of leased automobiles scheduled to come off lease on an approaching expiration date; calculate for each of said plurality of leased automobiles a difference value comprising the difference between a projected residual value at the initiation of the lease and an actual residual value at the expiration date of the lease; select for each of said plurality of leased automobiles an insurance policy covering the current lessee for the currently leased automobile having a premium less than said difference value; initiate to the lessee of each of said plurality of leased automobiles an offer to pay at least a portion of the insurance premium for the selected insurance policy if the lessee purchases or re-leases the currently leased automobile upon the expiration date; pay, upon the purchase or re-lease of at least one of said plurality of leased automobiles by a current lessee, at least a portion of the cost of the automobile insurance policy covering said current lessee for the purchased or re-leased automobile; and initiate the issuance of said automobile insurance policy covering said current lessee covering said current lessee for the purchased or re-leased automobile.
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75. A processor-implemented method for promoting sales a leased automobile, comprising the steps of:
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identifying via a processor one or more automobile models that qualify for an incentive package; identifying a qualifying geographic region for associated with the incentive package; identifying a pool of potential qualifying leases from a lease database, wherein each potential qualifying lease has expiration date that falls within a system determined qualification window; and creating a listing of qualifying leases that satisfy the model and geographic requirements associated with the incentive package; calculating for each qualifying lease a difference value comprising the difference between a projected residual value of the automobile at the initiation of the lease and an actual residual value at the expiration date of the lease; filtering the listing of qualifying leases based on a lease for an automobile that has premium that is less than said difference value; and initiating to the lessee of each of said plurality of leased automobiles an offer to pay at least a portion of the insurance premium for the selected insurance policy if the lessee purchases or re-leases the currently leased automobile upon the expiration date; paying, upon the purchase or re-lease of at least one of said plurality of leased automobiles by a current lessee, at least a portion of the cost of the automobile insurance policy covering said current lessee for the purchased or re-leased automobile; and initiating the issuance of said automobile insurance policy covering said current lessee covering said current lessee for the purchased or re-leased automobile. - View Dependent Claims (76)
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77. A processor-implemented method for encouraging the purchase or re-leasing of an item after an expiration of a lease, comprising:
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identifying via a processor a lease on an item that corresponds to an electronically stored record, the lease having an approaching expiration date; identifying a customer corresponding to the lease; offering the customer a paid insurance policy in exchange for purchasing or re-leasing the item after the expiration date, wherein the insurance policy covers the item upon a completion of the purchase of the item by the customer; and paying a premium to an insurance provider for the insurance for the item. - View Dependent Claims (78)
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Specification