Rapid Insurance Market Segmentation and Savings Test

• US 20120046975A1
• Filed: 08/23/2011
• Published: 02/23/2012
• Est. Priority Date: 08/23/2010
• Status: Abandoned Application

• Current Assignee: Robert Carl Stolze
• Original Assignee: Robert Carl Stolze
• Inventors: STOLZE, Robert Carl
• Application Number:
  US13/215,780
• Publication Number:
  US 20120046975A1
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A computer method and system for quickly determining the competitive costs of a plurality of insurance companies for a consumer. The present invention provides the user with the means to input informational elements relating to their insurance profile. The insurance profile is then matched to a market segment with a plurality of insurance companies. The plurality of insurance companies within the market segment provides the needs most suitable for the matched insurance profile. An analysis of each insurance company'"'"'s pricing is made in order to match a consumer insurance profile with an insurance company.

Claims

1. A method for quickly determining a consumer'"'"'s current insurance profile and evaluating a consumer'"'"'s opportunity to save money on insurance premiums by executing a compute-executable instructions stored on a non-transitory computer-readable medium, the method comprises the steps of:

providing a plurality of market segments, wherein each market segments consists of a plurality of informational element ranges;

assigning of a plurality of insurance companies to a plurality of market segments;

prompting for a plurality of informational elements, wherein the plurality of informational elements include a plurality of auto elements, a plurality of home elements, an information component B, an information component I, an information component J, and an information component K;

defining an insurance profile with the plurality of informational elements;

matching of the insurance profile to one of the market segments based on the plurality of auto elements and the plurality of home elements; and

analyzing current cost competitiveness for each insurance company within the matched market segment.

2. The method for quickly determining a consumer'"'"'s current insurance profile and evaluating a consumer'"'"'s opportunity to save money on insurance premiums by executing a computer-executable instructions stored on a non-transitory computer-readable medium, as claimed in claim 1 comprises,

prompting for the plurality of auto elements, wherein the plurality of auto elements comprises a component C, a component D, a component E, and a component F;

and

matching of the insurance profile to the plurality of market segments depending on the combination of the information component B, the component C, the component D, the component E, the component F, and the information component I.

3. The method for quickly determining a consumer'"'"'s current insurance profile and evaluating a consumer'"'"'s opportunity to save money on insurance premiums by executing a computer-executable instructions stored on a non-transitory computer-readable medium, as claimed in claim 1 comprises,

prompting for the plurality of home elements, wherein the plurality of home elements comprises a component G, a component H;

and

matching of the insurance profile to the plurality of market segments depending on the combination of the information component B, the component G, the component H, and the informational component I.

4. The method for quickly determining a consumer'"'"'s current insurance profile and evaluating a consumer'"'"'s opportunity to save money on insurance premiums by executing a computer-executable instructions stored on a non-transitory computer-readable medium, as claimed in claim 2 comprises,

wherein the component C is number of drivers over age 25 registered under the insurance profile;

wherein the component D is number of drivers under age 25 registered under the insurance profile;

wherein the component E is number of vehicles registered under the insurance profile; and

wherein the component F is number of at-fault accidents and driving violations within the last 3 years of the entire household recorded on the insurance profile.

5. The method for quickly determining a consumer'"'"'s current insurance profile and evaluating a consumer'"'"'s opportunity to save money on insurance premiums by executing a computer-executable instructions stored on a non-transitory computer-readable medium, as claimed in claim 3 comprises,

wherein the component G is value of home registered under the insurance profile;

and

wherein the component H is number of claims made for the home within the last 3 years for the home under the insurance profile.

6. The method for quickly determining a consumer'"'"'s current insurance profile and evaluating a consumer'"'"'s opportunity to save money on insurance premiums by executing a computer-executable instructions stored on a non-transitory computer-readable medium, as claimed in claim 1 comprises,

wherein the information component B is the state of residence for the insurance profile;

wherein the information component I is a credit score rating of the insurance profile;

wherein the information component J is current coverage of the insurance profile; and

wherein the information component K is number of years insured with current coverage.

7. The method for quickly determining a consumer'"'"'s current insurance profile and evaluating a consumer'"'"'s opportunity to save money on insurance premiums by executing a computer-executable instructions stored on a non-transitory computer-readable medium, as claimed in claim 2 comprises,

analyzing a publicly available insurer pricing database by inputting the plurality of home elements and the plurality of auto elements;

plotting a dot analysis of the insurance profile with the numerous insurers assigned under the matched market segment;

displaying of the dot plot analysis with ranking of all insurers based on lowest prices to highest prices within the matched market segment; and

comparing the information component J with the top ranked insurer, wherein equal value between the information component J and the top ranked insurer suggests the current insurer is a low cost insurer.

8. A method for quickly determining a consumer'"'"'s current insurance profile and evaluating a consumer'"'"'s opportunity to save money on insurance premiums by executing a compute-executable instructions stored on a non-transitory computer-readable medium, the method comprises the steps of:

providing a plurality of market segments, wherein each market segments consists of a plurality of informational element ranges;

assigning of a plurality of insurance companies to a plurality of market segments;

prompting for a plurality of informational elements, wherein the plurality of informational elements include a plurality of auto elements and a plurality of home elements;

defining an insurance profile with the plurality of informational elements;

matching of the insurance profile to one of the market segments based on the plurality of auto elements and the plurality of home elements; and

analyzing a current cost competitiveness factor for each insurance company within the matched market segment.

9. The method for quickly determining a consumer'"'"'s current insurance profile and evaluating a consumer'"'"'s opportunity to save money on insurance premiums by executing a computer-executable instructions stored on a non-transitory computer-readable medium, as claimed in claim 8 comprises,

prompting for the plurality of auto elements;

and

matching of the insurance profile to the plurality of market segments depending on the plurality of auto elements.

10. The method for quickly determining a consumer'"'"'s current insurance profile and evaluating a consumer'"'"'s opportunity to save money on insurance premiums by executing a computer-executable instructions stored on a non-transitory computer-readable medium, as claimed in claim 8 comprises,

prompting for the plurality of home elements;

and

matching of the insurance profiled to the plurality of market segments depending on the plurality of home elements.

11. The method for quickly determining a consumer'"'"'s current insurance profile and evaluating a consumer'"'"'s opportunity to save money on insurance premiums by executing a computer-executable instructions stored on a non-transitory computer-readable medium, as claimed in claim 8 comprises,

analyzing a publicly available insurer pricing database by inputting the plurality of home elements and the plurality of auto elements;

plotting a dot analysis of the insurance profile with the numerous insurers assigned under the matched market segment; and

displaying of the dot plot analysis with ranking of all insurers based on lowest prices to highest prices within the matched market segment.

12. A method for quickly determining a consumer'"'"'s current insurance profile and evaluating a consumer'"'"'s opportunity to save money on insurance premiums by executing a compute-executable instructions stored on a non-transitory computer-readable medium, the method comprises the steps of:

providing a plurality of market segments, wherein each market segments consists of a plurality of informational element ranges;

assigning of a plurality of insurance companies to a plurality of market segments;

prompting for a plurality of informational elements, wherein the plurality of informational elements include a plurality of auto elements and a plurality of home elements;

defining an insurance profile with the plurality of informational elements;

matching of the insurance profile to one of the market segments based on the plurality of auto elements and the plurality of home elements;

analyzing a current cost competitiveness factor for each insurance company within the matched market segment;

analyzing a publicly available insurer pricing database by inputting the plurality of home elements and the plurality of auto elements;

plotting a dot analysis of the insurance profile with the numerous insurers assigned under the matched market segment; and

displaying of the dot plot analysis with ranking of all insurers based on lowest prices to highest prices within the matched market segment.

13. The method for quickly determining a consumer'"'"'s current insurance profile and evaluating a consumer'"'"'s opportunity to save money on insurance premiums by executing a computer-executable instructions stored on a non-transitory computer-readable medium, as claimed in claim 12 comprises,

prompting for the plurality of auto elements;

prompting for the plurality of home elements; and

matching of the insurance profiled to the plurality of market segments depending on the plurality of home elements and the plurality of auto elements.