METHOD AND APPARATUS FOR INTERNET ON-LINE INSURANCE POLICY SERVICE

• US 20020116228A1
• Filed: 07/30/1999
• Published: 08/22/2002
• Est. Priority Date: 07/30/1999
• Status: Active Grant

• Current Assignee: Progressive Casualty Insurance Company (Progressive Corporation)
• Original Assignee: Progressive Casualty Insurance Company (Progressive Corporation)
• Inventors: YOUNGSTROM, LESLIE, BAUER, ALAN R., MCNAMARA, MEGAN N., ALFRED, TOBY, KEYSER, RICHARD J., URMINSKI, CHERYL L., BOWMAN, AMANDA L.
• Granted Patent: US 7,124,088 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

An Internet on-line insurance policy service system that facilitates real-time automated communication of policy information, adjustment of policy parameters, calculation and communication of resulting policy quotes, and implementation of policy changes, while obviating insurer personnel involvement and supervision of the communication. The system comprises a plurality of software modules relating to on-line real-time communication of existing policy information, testing of a wide range of variations in policy parameters, computing and communicating changes in policy premiums that would result from such variations, communicating desired changes in policy parameters and implementing desired policy changes. Other modules relate to communication of claims information and the providing of on-line forms.

Claims

1. An Internet on-line insurance policy service system for real-time automated selective adjustment by a user of policy parameters and system computation and communication of consequent costs, comprising:

an information module for identifying a user to the system and for verifying to the user present policy parameters of a policy held by the user; and

,

a policy adjustment module for selectively communicating a parameter change and for generating in real-time a cost adjustment attributable to the parameter change

2. The system as defined in claim 1 further including a claims information module

3. The system as defined in claim 1 further including an electronic funds transfer module.

4. The system as defined in claim 1 wherein the parameter change comprises a change in location.

5. The system as defined in claim 1 wherein the parameter change comprises a change in resident address of the insured.

6. The system as defined in claim 1 wherein the parameter change comprises a change in garage location of a vehicle insured under the policy

7. The system as defined in claim 1 wherein the parameter change comprises a change in item insured by the policy.

8. The system as defined in claim 7 wherein the change in item comprises a change in a person insured under the policy.

9. The system as defined in claim 7 wherein the change in item comprises a change in insurance coverages, deductibles and policy limits under the policy.

10. The system as defined in claim 7 wherein the change in item comprises a vehicle change.

11. The system as defined in claim 10 wherein the vehicle change comprises adding, replacing or deleting an insured vehicle under the policy.

12. The system as defined in claim 1 further including an implementing module for submitting and implementing the parameter change.

14. The system as defined in claim 13 further including a claims information module.

15. The system as defined in claim 13 further including an electronic funds transfer module.

16. The system as defined in claim 13 wherein the parameter change comprises a change in location.

17. The system as defined in claim 13 wherein the parameter change comprises a change in resident address of the insured.

18. The system as defined in claim 13 wherein the parameter change comprises a change in garage location of a vehicle insured under the policy.

19. The system as defined in claim 13 wherein the parameter change comprises a change in item insured by the policy.

20. The system as defined in claim 19 wherein the change in item comprises a change in a person insured under the policy.

21. The system as defined in claim 19 wherein the change in item comprises a change in coverages, deductibles and policy limits under the policy.

22. The system as defined in claim 19 wherein the change in item comprises a vehicle change.

23. The system as defined in claim 22 wherein the vehicle change comprises adding, replacing or deleting an insured vehicle under the policy.

24. The system as defined in claim 13 further including an implementing module for submitting and implementing the parameter change.

26. The method as claimed in claim 25 further including displaying policy information to the customer comprising preexisting policy parameters.

27. The method as claimed in claim 25 further including providing on-line forms to the customer

28. The method as claimed in claim 25 further including enabling electronic funds transferring through the on-line connection for payment of policy premiums.

29. The method as claimed in claim 25 further including displaying claims information to the customer and enabling communication of related information concerning a claim through the on-line connection.

30. The method as claimed in claim 25 wherein the communicating the policy parameter change comprises at least one of:

a vehicle addition, deletion or replacement, a change in insureds listed in the policy, a change in address or telephone number for an insured, a change in a garage location of an insured vehicle or changes in policy limits, desired coverages or deductibles.

13. An Internet on-line insurance policy service system for real-time automated selective adjustment by a user of policy parameters for an insurance policy, and for system computation and communication of changes in coverage under the policy comprising:

an information module for identifying a user to the system and for verifying to the user present policy parameters of a policy held by the user; and

,

a policy adjustment module for selectively communicating a parameter change and for generating in real-time a coverage adjustment attributable to the parameter change.

25. A method of servicing an insurance policy via Internet on-line communications for estimating cost variances attributable to policy parameter changes and for real-time updating of the policy parameters, comprising:

communicating through an Internet on-line connection an identity of a customer and a policy parameter change;

calculating a cost variance attributable to the policy parameter change and quoting the cost variance to the customer back through the on-line connection;

submitting the policy parameter change as an implementable change for updating the policy;

adjusting the policy in accordance with the policy parameter change and verifying the adjusting in real-time back to the customer through the on-line connection.

31. A method of servicing an insurance policy via Internet on-line communications for estimating cost variances attributable to policy parameter changes and for real-time updating of the policy parameters, comprising:

communicating through an Internet on-line connection an identity of a customer and a policy parameter change;

determining a coverage variance attributable to the policy parameter change and quoting the cost variance to the customer back through the on-line connection;

submitting the policy parameter change as an implementable change for updating the policy;

adjusting the policy in accordance with the policy parameter change and verifying the adjustment in real-time back to the customer through the on-line connection.

32. The method as claimed in claim 31 further including displaying policy information to the customer comprising preexisting policy parameters.

33. The method as claimed in claim 31 further including providing on-line forms to the customer.

34. The method as claimed in claim 31 further including enabling electronic funds transferring through the on-line connection for payment of policy premiums.

35. The method as claimed in claim 31 further including displaying claims information to the customer and enabling communication of related information concerning a claim through the on-line connection.

36. The method as claimed in claim 31 wherein the communicating the policy parameter change comprises at least one of:

a vehicle addition, deletion or replacement, a change in insureds listed in the policy, a change in address or telephone number for an insured, a change in garage location of an insured vehicle or changes in policy limits, desired coverages or deductibles.