System and method of providing pricing information
First Claim
1. A computer-implemented method of providing pricing information, comprising:
- dynamically updating, at a host computer, an assumption set of customer characteristics comprising at least one assumption derived from customer data, wherein the dynamic updating is based on feedback from a plurality of customers;
presenting the assumption set to a user at a client computer;
receiving, at the host computer from the client computer, a set of information from the user, wherein the set of information includes a confirmation of whether each assumption in the assumption set applies to the user;
conditionally estimating a first price or a second price for a product based on the confirmation, wherein estimating the first price for the product is based on the assumption set, and wherein estimating the second price for the product is based on user-provided information to be used in place of the assumption set; and
presenting the first or second price to the user at the client computer.
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Accused Products
Abstract
The present invention provides a system and method capable of providing an estimated premium without extensive and repetitive questioning. The present invention utilizes unique assumptions to dramatically reduce the amount of information that must be provided by the customer. In one embodiment, the present invention utilizes a mainframe computer system, an application server, and an external rules management system to interact with the customer via an attractive graphic user interface. Once logged onto the website of the present invention, the customer may choose to engage in a fast quote process which utilizes assumptions, driver information, and vehicle information to assess the risk associated with insuring the customer and then calculates an estimated cost to insure.
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Citations
20 Claims
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1. A computer-implemented method of providing pricing information, comprising:
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dynamically updating, at a host computer, an assumption set of customer characteristics comprising at least one assumption derived from customer data, wherein the dynamic updating is based on feedback from a plurality of customers; presenting the assumption set to a user at a client computer; receiving, at the host computer from the client computer, a set of information from the user, wherein the set of information includes a confirmation of whether each assumption in the assumption set applies to the user; conditionally estimating a first price or a second price for a product based on the confirmation, wherein estimating the first price for the product is based on the assumption set, and wherein estimating the second price for the product is based on user-provided information to be used in place of the assumption set; and presenting the first or second price to the user at the client computer. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A non-transitory machine-readable medium comprising instructions, which when executed by a host computer, cause the host computer to provide pricing information by:
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dynamically updating an assumption set of customer characteristics comprising at least one assumption derived from customer data, wherein the dynamic updating is based on feedback from a plurality of customers; presenting the assumption set to a user at a client computer; receiving, at the host computer from the client computer, a set of information from the user, wherein the set of information includes a confirmation of whether each assumption in the assumption set applies to the user; conditionally estimating a first price or a second price for a product based on the confirmation, wherein estimating the first price for the product is based on the assumption set, and wherein estimating the second price for the product is based on user-provided information to be used in place of the assumption set; and presenting the first or second price to the user at the client computer. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18)
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19. A computer system for providing pricing information comprising:
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a storage device configured to store electronic data, wherein the storage device contains an assumption set of customer characteristics comprising at least one assumption derived front customer data; and an application server coupled to the storage device and configured to; dynamically update the assumption set based on feedback from a plurality of customers; present the assumption set to a user at a client computer; receive, at the computer system from the client computer, a set of information from the user, wherein the set of information includes a confirmation of whether each assumption in the assumption set applies to the user; conditionally estimate a first price or a second price for a product based on the confirmation, wherein estimating the first price for the product is based on the assumption set, and wherein estimating the second price for the product is based on user-provided information to be used in place of the assumption set; and present the first or second price to the user at the client computer. - View Dependent Claims (20)
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Specification