System and Method for Processing Requests for Insurance Proposals
First Claim
1. A computer system for processing requests to provide insurance quotes, the computer system comprising:
- a computer processor;
a memory storage device in communication with the computer processor and storing data indicative of rules to select data sources correlated with categories of risk; and
a security systems device in communication with the computer processor;
wherein the computer processor is configured to;
receive via the security systems device one or more messages having data including a request for a quote to provide insurance coverage with respect to a first risk in a first category;
determine, based on the data indicative of business rules and the first category, one or more sources of data to access to validate and enhance the received data;
access the determined one or more data sources, and validate and enhance the received data to obtain validated and enhanced request data;
determine, based on the validated and enhanced request data with respect to the first risk, and using at least an appetite service, whether;
(a) to provide a quote for coverage with respect to the first risk or (b) to decline to provide a quote for coverage for the first risk;
responsive to determining to provide the quote for coverage for the first risk;
provide the validated and enhanced request data to an underwriting engine;
receive the quote for coverage for the first risk from the underwriting engine; and
furnish the quote in response to the request;
responsive to determining to decline to provide the quote for coverage for the first risk;
provide, to a third party server multi-carrier quotation server configured to return quotes from a plurality of carriers, data including the received data and at least a portion of the validated and enhanced data.
0 Assignments
0 Petitions
Accused Products
Abstract
A computer system for receiving and evaluating requests for quotes for insurance services includes a processor; and a memory storage device in communication with the processor. The processor is adapted to: receive via a communications interface data including a request for a quote to provide insurance services with respect to a first risk; verify and augment the received data with respect to one or more sources of data; determine based on the verified and augmented received data whether a quote will be provided with respect to the first risk; and provide an output signal including the received data and at least a portion of the augmented data to a third party server.
19 Citations
20 Claims
-
1. A computer system for processing requests to provide insurance quotes, the computer system comprising:
-
a computer processor; a memory storage device in communication with the computer processor and storing data indicative of rules to select data sources correlated with categories of risk; and a security systems device in communication with the computer processor; wherein the computer processor is configured to; receive via the security systems device one or more messages having data including a request for a quote to provide insurance coverage with respect to a first risk in a first category; determine, based on the data indicative of business rules and the first category, one or more sources of data to access to validate and enhance the received data; access the determined one or more data sources, and validate and enhance the received data to obtain validated and enhanced request data; determine, based on the validated and enhanced request data with respect to the first risk, and using at least an appetite service, whether;
(a) to provide a quote for coverage with respect to the first risk or (b) to decline to provide a quote for coverage for the first risk;responsive to determining to provide the quote for coverage for the first risk; provide the validated and enhanced request data to an underwriting engine; receive the quote for coverage for the first risk from the underwriting engine; and furnish the quote in response to the request; responsive to determining to decline to provide the quote for coverage for the first risk; provide, to a third party server multi-carrier quotation server configured to return quotes from a plurality of carriers, data including the received data and at least a portion of the validated and enhanced data. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
-
-
11. A computer-implemented method for processing requests to provide insurance quotes, comprising:
-
receiving by a computer processor, via a security systems device, one or more messages having data including a request for a quote to provide insurance coverage with respect to a first risk in a first category; accessing by the computer processor, from a memory storage device in communication with the computer processor, data indicative of rules to select data sources correlated with categories of risk; determining by the computer processor, based on the data indicative of business rules and the first category, one or more sources of data to access to validate and enhance the received data; accessing by the computer processor the determined one or more data sources, and validating and enhancing by the computer processor the received data to obtain validated and enhanced request data; determining by the computer processor, based on the validated and enhanced request data with respect to the first risk, and using at least an appetite service, whether;
(a) to provide a quote for coverage with respect to the first risk or (b) to decline to provide a quote for coverage for the first risk;responsive to determining to provide the quote for coverage for the first risk; providing by the computer processor the validated and enhanced request data to an underwriting engine implemented on a mainframe computer system; receiving by the computer processor the quote for coverage for the first risk from the underwriting engine implemented on the mainframe computer system; and furnishing by the computer processor the quote in response to the request; responsive to determining to decline to provide the quote for coverage for the first risk; providing by the computer processor, to a third party server multi-carrier quotation server configured to return quotes from a plurality of carriers, data including the received data and at least a portion of the validated and enhanced data. - View Dependent Claims (12, 13, 14, 15, 16, 17)
-
-
18. A non-transitory computer-readable storage medium, the non-transitory computer-readable storage medium having processor-executable instructions, which instructions, when executed by a processor, cause the processor to:
-
receive one or more messages having data including a request for a quote to provide insurance coverage with respect to a first risk in a first category; access, from a memory storage device in communication with the processor, data indicative of rules to select data sources correlated with categories of risk; determine, based on the data indicative of business rules and the first category, one or more sources of data to access to validate and enhance the received data; access the determined one or more data sources, and validate and enhance the received data to obtain validated and enhanced request data; determine, based on the validated and enhanced request data with respect to the first risk, and using at least an appetite service, whether;
(a) to provide a quote for coverage with respect to the first risk or (b) to decline to provide a quote for coverage for the first risk;responsive to determining to provide the quote for coverage for the first risk; provide the validated and enhanced request data to an underwriting engine; receive the quote for coverage for the first risk from the underwriting engine; and furnish the quote in response to the request; responsive to determining to decline to provide the quote for coverage for the first risk; provide, to a third party server multi-carrier quotation server configured to return quotes from a plurality of carriers, data including the received data and at least a portion of the validated and enhanced data. - View Dependent Claims (19, 20)
-
Specification