Policy event management system and method
First Claim
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1. A method for policy event management, comprising:
- receiving, by a data processing system of a broker, an electronic communication from an insurance provider of an event related to a policy of a consumer serviced by the insurance provider;
responsive to receiving the electronic communication, automatically determining, by the data processing system, whether the event meets at least one event criterion monitored by the data processing system of the broker; and
responsive to determining that the event corresponds to at least one event criterion monitored by the broker, automatically initiating, by the data processing system, an action related to the event; and
wherein the event comprises a change in a policy premium; and
wherein the at least one event criterion comprises the change in the policy premium exceeding a predetermined threshold, and further comprising, responsive to determining that the change in the policy premium exceeds the predetermined threshold, the action comprises automatically transmitting an electronic request for an insurance quote to at least one other insurance provider on behalf of the consumer.
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Abstract
According to one aspect of the present disclosure, a method and technique for policy event management is disclosed. The method includes: receiving by a broker an electronic communication from an insurance provider of an event related to a policy of a consumer serviced by the insurance provider; responsive to receiving the notice, automatically determining whether the event meets at least one event criteria monitored by the broker; and responsive to determining that the event corresponds to at least one event criteria monitored by the broker, automatically initiating an action related to the event.
29 Citations
16 Claims
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1. A method for policy event management, comprising:
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receiving, by a data processing system of a broker, an electronic communication from an insurance provider of an event related to a policy of a consumer serviced by the insurance provider; responsive to receiving the electronic communication, automatically determining, by the data processing system, whether the event meets at least one event criterion monitored by the data processing system of the broker; and responsive to determining that the event corresponds to at least one event criterion monitored by the broker, automatically initiating, by the data processing system, an action related to the event; and wherein the event comprises a change in a policy premium; and wherein the at least one event criterion comprises the change in the policy premium exceeding a predetermined threshold, and further comprising, responsive to determining that the change in the policy premium exceeds the predetermined threshold, the action comprises automatically transmitting an electronic request for an insurance quote to at least one other insurance provider on behalf of the consumer. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A policy event management system, comprising:
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a data processing system operable to receive, by a broker, an electronic communication from an insurance provider indicating an event related to a policy of a consumer serviced by the insurance provider; an event module operable to, responsive to receiving the electronic communication, automatically determine whether the event meets at least one event criterion monitored by the broker; and wherein the event module is operable to, responsive to determining that the event corresponds to at least one event criterion monitored by the broker, automatically initiate an action related to the event; and wherein the event comprises a change in a policy premium; and wherein the at least one event criterion comprises the change in the policy premium exceeding a predetermined threshold, and wherein the event module is operable to, responsive to determining that the change in the policy premium exceeds the predetermined threshold, the action comprises initiating a quotation module operable to automatically transmit an electronic request for an insurance quote to at least one other insurance provider on behalf of the consumer. - View Dependent Claims (8, 9, 10, 11)
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12. A policy event management method, comprising:
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storing, by a broker in a data processing system, information associated with a policy for an insurance product between a consumer and an insurance provider; monitoring, by the data processing system, for a change associated with at least one parameter value associated with the policy; responsive to detecting a change to at least one parameter value associated with the policy, automatically determining by the data processing system whether the change may cause a change to a premium paid by the consumer for the insurance product; and responsive to determining that the change may cause a change to a premium paid by the consumer for the insurance product, automatically transmitting an electronic request for an insurance quote to at least one other insurance provider on behalf of the consumer for the insurance product. - View Dependent Claims (13, 14, 15, 16)
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Specification