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INSURANCE VERIFICATION SYSTEM (INSVSYS)

  • US 20140039934A1
  • Filed: 08/01/2012
  • Published: 02/06/2014
  • Est. Priority Date: 08/01/2012
  • Status: Abandoned Application
First Claim
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1. A method for verifying insurance information associated with an entity, the insurance information stored in an insurance information repository, the method comprising:

  • receiving, at a receiver and from the third party computer, the insurance information and the parameter associated with the entity, wherein the third party computer is one of a government computer, an insurance carrier computer and a financial institution computer;

    storing, at a memory, the insurance information and the parameter in the insurance information repository for future retrieval;

    receiving, at the receiver, an insurance information verification request from a third party computer, the insurance information verification request including a parameter associated with the entity;

    determining, at a processor, whether insurance information associated with the entity includes an insurance policy;

    when the insurance information associated with the entity includes the insurance policy;

    determining, at the processor, a policy status of the insurance policy; and

    transmitting, at a transmitter and to the third party computer, a verification message verifying that the insurance information associated with the entity includes the insurance policy, the verification message including the policy status; and

    when the insurance information associated with the entity does not include the insurance policy;

    transmitting, at the transmitter, an alert message to the third party computer, the alert message indicating that the entity does not have insurance;

    ,determining, at the processor, a risk profile of the entity based at least in part on the insurance information associated with the parameter, the risk profile indicating a risk level associated with the entity;

    receiving, at the receiver, a first insurance information request message from the third party computer, the first insurance information request message including the parameter and a request for the risk level associated with the entity based on the parameter;

    transmitting, at the transmitter, an alert to the third party computer if the risk level associated with the entity meets a predefined threshold.

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