Method and system for providing insurance policies via a distributed computing network

• US 7,925,523 B1
• Filed: 09/11/2000
• Issued: 04/12/2011
• Est. Priority Date: 09/11/2000
• Status: Active Grant

• Current Assignee: Safeco Corporation (Liberty Mutual Holding Company)
• Original Assignee: Safeco Corporation (Liberty Mutual Holding Company)
• Inventors: McConnell, Frank J., Randall, Anne H., Lewis, Jason J., Tormey, William M., Lenoir, Edward V., Johannesen, Greg S., Ellermeier, Dennis M.
• Primary Examiner(s): O'Connor; Gerald J.
• Assistant Examiner(s): PASS, NATALIE
• Application Number:
  US09/658,770
• Time in Patent Office: 3,865 Days
• Field of Search: 705/2, 705/4, 705/400, 705/38, 705/1, 705/3, 705/27, 235/381, 283/54
• US Class Current: 705/4
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A virtual insurance producer Web site is provided at which a prospective insurance customer may request a bindable premium quotation for an insurance policy. If the policy may be underwritten, the Web site calculates a premium for the insurance policy. The premium is displayed to the prospective customer as a bindable quotation that binds the insurance company providing the policy and that may be purchased on-line immediately. The prospective customer may purchase the insurance policy according to the provided bindable premium quotation through the virtual insurance producer Web site. If the prospective customer elects to purchase the policy, the virtual insurance producer Web site may re-intermediate an insurance agent into the sales process and transmit the insurance policy to the customer in electronic form.

Claims

1. A system for providing an insurance policy via a distributed computing network, comprising:

a server computer maintaining a virtual insurance producer Web site available via said distributed computing network, and wherein said virtual producer Web site is operative to;

receive a request for a bindable premium quotation for an insurance policy;

receive information relating to the insurability of an individual to be insured by said insurance policy and information relating to the coverage to be provided by said insurance policy in response to said request;

gather underwriting information from one or more outside information resources based upon the identify of said individual;

determine whether said insurance policy may be underwritten;

to calculate a premium for said insurance policy and to provide said premium to a requestor of said premium quotation as a bindable insurance premium quotation;

receive a request to purchase said insurance policy according to said bindable insurance premium quotation;

re-intermediate an insurance agent; and

issue said insurance policy.

2. The system of claim 1, wherein said virtual producer Web site is further operative to:

provide an interactive help system to a requestor of said insurance policy.

3. The system of claim 2, wherein said interactive help system comprises an interactive chat facility for providing real-time communication between said requestor of said insurance policy and an insurance help-desk representative.

4. The system of claim 3, wherein said interactive help system further comprises an e-mail facility for receiving an electronic mail message from said requestor of said insurance policy and transmitting said message to an insurance help-desk representative.

5. The system of claim 4, wherein said interactive help system further comprises a facility for notifying an insurance help-desk representative that said requestor of said insurance policy would like to receive a telephone call providing assistance.

6. The system of claim 1, wherein issuing said insurance policy comprises transmitting an electronic version of said insurance policy to an individual insured by said insurance policy.

7. The system of claim 6, wherein re-intermediating an insurance agent comprises:

providing a list of available insurance agents;

receiving the selection of a selected agent from the list of available insurance agents;

assigning said selected insurance agent to said insurance policy;

transmitting information regarding said individual and said insurance policy to said selected insurance agent; and

remitting a commission to said selected insurance agent.

8. The system of claim 6, wherein re-intermediating an insurance agent comprises:

providing a list of available insurance agents, said available insurance agents identified based upon their geographical proximity to said individual;

receiving the selection of a selected agent from the list of available insurance agents;

assigning said selected insurance agent to said insurance policy;

transmitting information regarding said individual and said insurance policy to said selected insurance agent; and

remitting a commission to said selected insurance agent.

9. The system of claim 6, wherein re-intermediating an insurance agent comprises:

assigning an insurance agent to said insurance policy based upon the geographical proximity of said insurance agent to said individual;

assigning said assigned insurance agent to said insurance policy;

transmitting information regarding said individual and said insurance policy to said assigned insurance agent; and

remitting a commission to said assigned insurance agent.

10. The system of claim 9, wherein said assigned insurance agent comprises the geographically closest available insurance agent to said customer.