System and method for providing and activating commoditized insurance
First Claim
1. A system for activating a product, the system comprising:
- a product having an activation code associated therewith, the product being available for purchase for a price, the activation code identifying pre-defined parameters for the product; and
a carrier that provides the product, the carrier receiving payment in an amount of the price and information regarding the activation code, via a web server upon purchase of the product;
the carrier via an issuance server including;
a memory device configured to store information in a central record that includes;
the activation code associated with pre-defined parameters for the product and identified with the product; and
a set of verification queries associated with the activation code, the set of verification queries related to the pre-defined parameters wherein the set of verification queries screen for eligibility of the product;
a processor configured to receive the activation code associated with the product when a user device is used to attempt to activate the product via the carrier and access the memory device to determine the set of verification queries associated with the received activation code; and
a communications interface to provide the determined set of verification queries to the user device and receive responses thereto, and on a condition that the processor determines that the received responses to the determined set of verification queries are in accordance with the product activates the product.
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Accused Products
Abstract
A system and method for providing commoditized insurance products to at least one consumer is disclosed. The system includes a commoditized insurance product including an activation code and an insurance company that underwrites the commoditized insurance product and provides the commoditized insurance product to a retail outlet. Based on consumer purchase of the commoditized product at the retail outlet and initiation of an activation process, the insurance company receives an activation code associated with the commoditized insurance product and provides verification queries to the consumer, and based on positive responses to the queries activates the policy providing the selected insurance coverage for the consumer.
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Citations
15 Claims
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1. A system for activating a product, the system comprising:
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a product having an activation code associated therewith, the product being available for purchase for a price, the activation code identifying pre-defined parameters for the product; and a carrier that provides the product, the carrier receiving payment in an amount of the price and information regarding the activation code, via a web server upon purchase of the product; the carrier via an issuance server including; a memory device configured to store information in a central record that includes; the activation code associated with pre-defined parameters for the product and identified with the product; and a set of verification queries associated with the activation code, the set of verification queries related to the pre-defined parameters wherein the set of verification queries screen for eligibility of the product; a processor configured to receive the activation code associated with the product when a user device is used to attempt to activate the product via the carrier and access the memory device to determine the set of verification queries associated with the received activation code; and a communications interface to provide the determined set of verification queries to the user device and receive responses thereto, and on a condition that the processor determines that the received responses to the determined set of verification queries are in accordance with the product activates the product. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A device for activating a product having an activation code associated therewith, the product being available for purchase for a price, the activation code identifying pre-defined parameters for the product, the device comprising:
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a carrier that provides the product, the carrier receiving payment in an amount of the price and information regarding the activation code, via a web server upon purchase of the product; the carrier via an issuance server including; a memory device configured to store information in a central record that includes; the activation code associated with pre-defined parameters for the product and identified with the product; and a set of verification queries associated with the activation code, the set of verification queries related to the pre-defined parameters wherein the set of verification queries screen for eligibility of the product; a processor configured to receive the activation code associated with the product when a user device is used to attempt to activate the product via the carrier and access the memory device to determine the set of verification queries associated with the received activation code; and a communications interface to provide the determined set of verification queries to the user device and receive responses thereto, and on a condition that the processor determines that the received responses to the determined set of verification queries are in accordance with the product activates the product. - View Dependent Claims (12, 13, 14, 15)
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Specification